The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has called for a shift in Nigeria’s fiscal governance from an overreliance on revenue collection to efficient resource allocation, transparency and accountability as key drivers of sustainable economic growth and national development.
The commission made the call on Monday at a stakeholders’ strategic retreat organised in partnership with the House of Representatives Committee on Finance in Ikeja, Lagos. The retreat was themed, “Beyond Collection: Revenue Mobilisation for Economic Growth – Building Strategies for Efficient Resource Allocation.”
Speaking on behalf of the Chairman of RMAFC, Dr. Mohammed Bello Shehu, the Federal Commissioner representing Oyo State, Hon. Kolade Daniel Abimbola, described the retreat as a platform for reviewing Nigeria’s fiscal landscape and developing practical strategies to strengthen domestic revenue mobilisation and improve resource allocation across all tiers of government.
Abimbola acknowledged that Nigeria had recorded progress in expanding non-oil revenue through reforms, institutional strengthening and digitisation, but said greater efforts were needed to improve compliance, block leakages and enhance collaboration among relevant institutions.
He stressed that sustainable development depends not only on generating more revenue but also on ensuring that public resources are efficiently utilised for the benefit of citizens.
“The conversation must now move beyond simply collecting revenue. Every naira mobilised must be efficiently allocated, prudently managed, transparently accounted for and strategically invested in sectors that stimulate economic growth, create jobs and improve the welfare of Nigerians,” he said.
Abimbola reaffirmed the commission’s constitutional mandate to monitor accruals into and disbursements from the Federation Account, review the Revenue Allocation Formula and advise government on fiscal efficiency.
He also called for stronger collaboration among fiscal institutions, the legislature, state governments and the private sector, noting that the use of emerging technologies such as artificial intelligence, data analytics and digital monitoring systems would improve transparency, reduce leakages and support evidence-based fiscal decision-making.
The Chairman of the House of Representatives Committee on Finance, Hon. James Abiodun Faleke, commended the commission for organising the retreat, describing it as consistent with President Bola Tinubu’s Renewed Hope Agenda.
Faleke said increased revenue would only have meaningful impact if accompanied by prudent allocation, effective oversight and fiscal discipline.
“Revenue, on its own, does not build roads, equip hospitals or improve the lives of our people. It is prudent allocation, effective oversight and fiscal discipline that transform public resources into tangible development outcomes,” he said.
He urged participants to develop practical recommendations that would strengthen legislative oversight, improve fiscal management and ensure public resources deliver measurable value to Nigerians.
Speaking with journalists on the sidelines of the event, Abimbola disclosed that the commission was advancing plans to deploy a real-time digital revenue monitoring dashboard to strengthen oversight of revenue collections by government agencies.
According to him, the initiative is expected to improve transparency, reduce leakages, enhance remittance monitoring and support more effective fiscal decision-making while ensuring increased public revenue translates into better infrastructure and improved social services.
Also speaking, the Federal Commissioner representing Abia State, Hon. Linda Nkechi Oti, described the retreat as timely and urged participants to work together to produce practical recommendations that would strengthen Nigeria’s fiscal governance and economic development.
The retreat featured technical sessions and panel discussions on strengthening domestic revenue mobilisation, improving resource allocation frameworks, promoting fiscal sustainability and leveraging technology to enhance transparency and accountability in public financial management.
Several federal commissioners attended the event, including Amb. Desmond Akawor (Rivers), Hon. Hadizatu Uwani Mustapha (Borno), Hon. Bello Abubakar Wamakko (Sokoto), Prof. Steve Ugba (Benue), Hon. Kolade Daniel Abimbola (Oyo) and Hon. Linda Nkechi Oti (Abia).
The commission said the retreat is expected to produce actionable recommendations aimed at strengthening Nigeria’s revenue mobilisation framework, improving fiscal discipline, enhancing resource allocation and supporting sustainable economic growth.
