NEC to Boost RMAFC’s Funds by 0.05%
The National Economic Council (NEC) has recommended 0.05 per cent increase in funds allocated to the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) from non-oil sources.
Gov. Chukwuma Soludo of Anambra said this while briefing State House correspondents after the NEC meeting chaired by Vice-President Kashim Shettima, on Thursday in Abuja.
He explained that the commission requested for 0.75 per cent, “but in the wisdom of NEC, it approved 0.05 per cent, subject to review by the National Assembly.”
He said the commission was seeking a revision of the Act establishing it and to replace it with a new one.
He said the revision was in respect of a review of alternative funding for the institution.
“So, the report noted the very onerous responsibilities of the RAMFAC, and the inadequate funding for this institution, which has made it difficult to perform its tasks.
“Council noted the draft repeal and replacement legislation that is pending and after deliberation, the council directed the commission to forward the draft bill to the NASS for consideration and passage into law,” said Soludo. #NEC to Boost RMAFC’s Funds by 0.05%#
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