{"id":87566,"date":"2021-09-29T08:05:27","date_gmt":"2021-09-29T07:05:27","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=87566"},"modified":"2021-09-29T08:05:27","modified_gmt":"2021-09-29T07:05:27","slug":"rmafc-to-conduct-public-hearing-on-revenue-allocation-formula-oct-3","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/09\/29\/rmafc-to-conduct-public-hearing-on-revenue-allocation-formula-oct-3\/","title":{"rendered":"RMAFC to conduct public hearing on revenue allocation formula Oct 3"},"content":{"rendered":"<p>The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has stated that it will commence public hearings on the review of the revenue allocation formula on Monday, October 3, 2021, starting with the south-west geopolitical zone.<\/p>\n<p>This was announced by RMAFC chairman, Elia Mba when the commission<span data-preserver-spaces=\"true\">\u00a0paid a courtesy visit to the house of representatives on Tuesday.<\/span><\/p>\n<p>According to Mba,<span data-preserver-spaces=\"true\">\u00a0it is important that the public hearing is conducted to look at the objectives and subject of the revenue formula, describing it as long overdue.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He explained that the last time the formula was reviewed was in 1999, adding that the public hearing will be carried out alongside questionnaires.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cOn Monday we are going to start the public hearing with the South West zone, we appeal to state governors to attend,\u201d he said.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThere are some concerns such as security, environmental degradation, and <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/06\/18\/akwa-ibom-spends-n10-billion-on-erosion-control\/\">erosion<\/a>; so there is need to look at the sharing formula to ensure that what every tier of government gets is in line with their needs.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThis is a process, and the end will determine it. We cannot do this without seeking advice from the leadership of the House.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cYour input and advice will go a long way. When we finish, we will bring our recommendation to the National Assembly for further legislative action.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Mba also said the RMAFC would carry out extensive sensitisation and public hearing in the other geopolitical zones to ensure that everyone was carried along so that the result would be an equitable and acceptable formula.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In his remarks, Femi Gbajabiamila, speaker of the house of representatives, said: \u201cIt\u2019s over 30 years now. We have to balance growth, bearing in mind that we operate a federal structure.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cI believe that embarking on this important assignment should not be based on sentiment or emotions, but statistics so that at the end of the day, your report will not be faulted.\u201d<\/span><\/p>\n<p>In August, RMAFC said the new revenue allocation formula would be ready and submitted to Muhammadu Buhari before the end of 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has stated that it will commence public hearings on the review of the revenue allocation formula on Monday, October 3, 2021, starting with the south-west geopolitical zone. This was announced by RMAFC chairman, Elia Mba when the commission\u00a0paid a courtesy visit to the house of representatives on [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":87580,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[16587],"tags":[18852,18853,1591,18338,16294],"class_list":["post-87566","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-elia-mba","tag-erosion","tag-femi-gbajabiamila","tag-revenue-allocation-formula","tag-rmafc"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>RMAFC to conduct public hearing on revenue allocation formula Oct 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