ABUJA, NIGERIA – The House of Representatives Committee on Finance has approved a budget of ₦105.14 billion (approximately $70 million USD) for the operations of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) for the 2025 fiscal year. The approval was granted on Tuesday during a budget defence session in Abuja.
The committee, chaired by Lagos lawmaker Abiodun Faleke, adopted the proposed budget after a presentation by RMAFC Chairman, Mohammed Shehu. Mr. Shehu informed the committee that the total proposal includes ₦20.6 billion for personnel costs and ₦8.9 billion for overhead expenditure.
According to documents, projected revenue for RMAFC from January to June 2025, derived from 0.5 per cent of non-oil Federation revenue, is estimated at ₦37.20 billion, with an additional ₦67.94 billion projected for July to December 2025. Mr. Shehu highlighted that “The sum of N75.5bn representing 71.8 per cent of the total budget is earmarked for capital estimates.” He also commended the committee for championing the recent amendment of the RMAFC Act, which he said has positioned the commission for more effective performance.
Committee Chairman Faleke stated that the committee was satisfied with the estimates and would ensure full implementation through its oversight functions. He noted that the National Assembly would proceed on its annual recess within the week, expecting a 30 to 40 per cent budget implementation upon their return.
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