RMAFC holds 3-day sensitization workshop to redefine revenue sources

The Revenue Mobilization Allocation and Fiscal Commission (RMAFC)organizes a three-day sensitization workshop on alternative sources of revenue for States and Local Governments in Nigeria to diversify their revenue base which has been nose-diving as a result of dwindling revenues from the Federation Account.

The programme, put together by the Commission in collaboration with Switch Consulting Ltd, a firm of international repute with specialization in Social and Economic Development;

will be declared open by the Vice President of the Federal Republic of Nigeria, Prof. Yemi Osinbajo, Monday, at the International Conference Centre, Abuja.

RMAFC Spokesperson, Mr. Ibrahim Mohammed, in a statement said that the over –dependence on Statutory Revenue Allocation from the Federation Account by all the States and Local Government Councils for governance and development has exposed them to fiscal risks and distress, hence the need for the Tiers of Government to seek for alternative means of Revenue generation.

Mohammed said that it was in an attempt to assist the two tiers of Government to reduce their over-dependence on the depleting Federation Account that the Commission as empowered by Paragraph 32(C) Part I to the Third Schedule of the 1999 Constitution of the Federal Republic of Nigeria (as Amended) is coming up with the Workshop.

“This is intended to identify the gaps in the funding of the States and Local Government Councils and also to sensitize participants on new strategies for Internal Revenue Generation”.

The Daily Times recalls that long before the economy dipped into recession, the Commission had over the years mounted extensive advocacy and mass mobilization campaign throughout the states of the federation to sensitize governments at all levels on the need to adopt economic diversification for enhanced revenue generation, wealth creation and employment generation.