FG launches income restoration drive to strengthen fiscal governance 

The Federal Authorities has commenced a complete income restoration train geared toward plugging leakages and strengthening Nigeria’s fiscal governance.

The initiative was formally launched on the headquarters of the Income Mobilisation Allocation and Fiscal Fee (RMAFC) in Abuja, throughout the inauguration of consultants engaged for the income restoration challenge.

Talking on the occasion, RMAFC Chairman, Dr. Mohammed Bello Shehu, reaffirmed the Fee’s dedication to making sure that every one revenues as a result of Federation are absolutely accounted for and remitted into the Federation Account.

“This train shouldn’t be a routine administrative motion, however a deliberate, result-oriented innovation designed to strengthen fiscal governance and guarantee each recoverable naira as a result of Federation is transparently remitted,” he said. 

Strategic transfer to spice up fiscal capability  

Dr. Shehu described the engagement of consultants as a strategic transfer aligned with President Bola Tinubu’s Renewed Hope Agenda, noting that it could assist improve transparency, plug leakages, and enhance the fiscal capability of the three tiers of presidency.

“According to the constitutional accountability of the Fee and with the complete assist of Mr. President and the Particular Adviser to the President on Income, in addition to the Government Chairman of the FIRS, this initiative seeks to establish and get better unremitted revenues throughout sectors of the financial system,” he added. 

Representing the Government Chairman of the Federal Inland Income Service (FIRS), Mr. Shettima Tamadi, Coordinating Director at FIRS, inaugurated the consultants and recommended the RMAFC for its proactive management.

“Nigeria has an enormous income hole, however with stronger collaboration between companies and companions, we are able to bridge that hole and obtain sustainable fiscal development,” Tamadi mentioned. 

Consultants urged to ship  

Additionally talking, Mr. Joseph Nwaeze Okechukwu, Secretary to the Fee, urged the consultants to ship the task inside the stipulated six-month timeframe and be sure that all recoverable funds are promptly returned to the Federation Account.

Delivering an acceptance speech on behalf of the consultants, Mr. Temitayo Ojeleke, the lead advisor, described the engagement as a nationwide name to obligation and pledged full dedication to transparency and measurable outcomes.

“We settle for this task as companions in Nigeria’s financial renewal, able to ship outcomes that can strengthen the nation’s income base,” Ojeleke said. 

The inauguration marks a big milestone in RMAFC’s broader drive to reinforce inter-agency collaboration, enhance accountability, and maximize income era for the collective good thing about the Federation.

What it’s best to know  

• In August, the Federal Authorities had instructed RMAFC to undertake a complete due diligence course of within the improvement of a brand new and equitable income allocation formulation for the nation.
• The directive was issued by the Secretary to the Government of the Federation (SGF), Senator George Akume, throughout a gathering with the RMAFC administration workforce led by its Chairman, Dr. Mohammed Bello Shehu, on the SGF’s workplace.
• In accordance with Segun Imohiosen, Director of Data & Public Relations, Senator Akume expressed confidence within the Fee’s potential to ship a sturdy and inclusive framework that displays the nation’s fiscal realities.