The Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) says the new revenue allocation formula for the three tiers of government will no longer be feasible in the first quarter as earlier announced.
The Chairman of the commission, Mr Elias Mbam, said this while fielding questions from Journalists when the Comptroller- General of the Nigerian Customs Service, Alhaji Abdullahi Dikko, paid him courtesy call on Monday in Abuja. It will be recalled that Mbam had earlier announced that the commission would release a new revenue allocation formula for the three tiers of government before the end of the first quarter.
“Even the budget year was moved from December to March and so many other challenges which you know as much as I do.”
Mbam, however, assured that the commission would brief the media at the end of the first quarter on the progress made on the issue, adding that it would be difficult to say when the new revenue formula will be ready. “We have really made reasonable progress but we don’t want to start by shouting that we have done a lot of job behind the scene.
Because this issue is very sensitive and it has implication in the unity and progress of this country, we are conscious of that and we are very careful in all our actions and inactions.”
The RMAFC boss assured that the commission would continue to strive to maintain its image as an unbiased umpire by being fair, free and devoid of partisanship. “We will keep to that, and so we will not be dragged into politicising the review of the revenue allocation formula.”