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Conference may override RMAFC’s new revenue formula

Chairman, RMAFC, Mr. Elias Mbam

Indications have emerged that the new revenue formula proposed by the Revenue Mobilisation Allocation and Fiscal Commission may not see the light of the day as a result of the ongoing National Conference.

Revenue formula is one of the issues that will be discussed by the conference and already, delegates from some parts of the country have taken positions on certain aspects of the formula.

Our correspondent learnt that the need to allow the conference to come up with a position on a new revenue formula might have informed the inability of the Federal Government to take further action to activate the new formula.

 Although the Chairman of RMAFC, Mr. Elias Mbam, had announced in December 2013 that a draft formula, in the works since 2010 had been completed, the Federal Government had since then taken no action to present it to the National Assembly.

It was learnt that the draft revenue formula had not been officially presented to President Goodluck Jonathan by officials of the RMAFC.

The Head, Public Relations, RMAFC, Mr. Ibrahim Mohammed, confirmed this to our correspondent on the telephone.

While sources attribute the delay in formally presenting the draft revenue formula to Jonathan to the recent change of guard at the Office of the Chief of Staff to the President, others said the delay was necessitated by the need to allow the conference to make input into it.

“The revenue formula is open for the delegates to the conference to debate on. It is not one of the areas that they cannot discuss. This means that Nigerians will have another opportunity to make input into the new revenue formula. I am sure that is responsible for the delay,” a Presidency official said on Sunday on the condition of anonymity.

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