President Muhammadu Buhari to wait for Constitution Review Process over New Revenue Formula.
Written by News Room on April 8, 2022
President Muhammadu Buhari says he will await the final outcome of the constitutional review process before presenting the report of the review of the vertical revenue allocation formula to the National Assembly as a Bill for enactment.
The President made the comment in Abuja while receiving the report by the Revenue Mobilization Allocation and Fiscal Commission (RMAFC), led by Engr. Elias Mbam
The President assured members of the Commission that the Federal Government would immediately subject the report to its internal review and approval processes, while awaiting finalization of the efforts by the National Assembly.
He commended the RMAFC for a job painstakingly done, pledging his unwavering commitment and support to them in carrying out their constitutional mandates. The President also thanked Nigerians, especially the State and Local Governments, for making their inputs through the broad stake-holder engagement processes that produced the report.
In his remarks, the Secretary to the Government of the Federation, Boss Mustapha, said the RMAFC followed due process in undertaking the exercise, and sought the opinion of the Federal Government before finalizing the report.