The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), said on Thursday that it has finalised work on a new remuneration for political office holders in the country, which it has submitted to the President through the Office of the Secretary to the Government of the Federation.
Chairman of the Commission, Mohammed Bello Shehu, who disclosed this at a budget defence of the agency before the House Committee on Finance, said the new proposal, which is for Ministers and political office holders, will soon be forwarded to the National Assembly by the President.
He said the agency is also working on “vertical, horizontal revenue sharing formula. We are also on that. We will conclude this year.”
Shehu, who gave an update on the ongoing review of the revenue allocation formula for the three tiers of government, as well as remuneration for political office holders, said, “very soon we will conclude. We have done everything. We have concluded. We are just about to finish analyzing the data and bring it before you.”
He said, “We hope that very soon this will be transmitted to you so that it becomes law. Of course, your own doesn’t require any legislation. It’s for Ministers and others”.
“I’m glad that Mr. President spoke to the Governors himself, that if you don’t allow this, then I will issue an Executive Order. So, the Commission is fully in support of Mr. President over this course.
“The crisis we are having in Nigeria today is the lack of functionality of Local Governments, and every single one of us knows this. Even under the military, the Local Governments will perform much better. So I thank you profoundly, sir; it’s your committee that initiated this.
“Some of them went to the creek water was up to here, sir, to identify those oil assets that we have in Nigeria. And by the time we finish, sir, when Mr. President receives this report, this country will shake, sir. And I’m not making it up. I have provided you with an internal report, but I don’t want to let the cart out of the bag, sir. So this is remarkable, sir.”
