The National Economic Council (NEC) meeting chaired by Vice President Kashim Shettima on Thursday, approved a marginal increase of 0.05% in the emoluments of workers under the Revenue Mobilization Allocation and Fiscal Commission (RMAFC).

Specifically, RMAFC mobilises funds and allocates the same to states to meet their developmental needs.

Anambra State Governor, Charles Soludo, who disclosed the development while briefing newsmen, said the Commission had requested for 0.75% hinging it on the enormity of its job as an institution.

He explained that the Commission has been directed to forward a bill for the review to the National Assembly.

Soludo said, “Among the issues discussed at today’s (Thursday) NEC was the presentation of a report in respect of an earlier presentation by the chairman of the Revenue Mobilization Allocation and Fiscal Commission to NEC on the 21st of November, 2024 seeking essentially revised or repeal the existing Act of Parliament establishing the Commission and to replace it with a new one.

“Then it is also seeking for revision, I mean a review about alternative funding to the institution. So the report elaborately noted the very onerous responsibilities of RMAFC and as a very beautiful institution in the functioning of Federation, and noted the inadequate funding for this institution to be able to perform its tasks.

“NEC also noted the draft repeal and replace legislation that
was also pending and after deliberating on this, the Council noted and approved as follows. First is that RMAFC should forward the draft bill to the National Assembly for consideration and passage into law.

“The Council also approved the recommendation for improved funding for RMAFC and approved that the Commission be funded with 0.05% non oil federation revenue based on the proposed tax reforms and subject to further scrutiny by the National Assembly. I know the Commission had requested for 0.75% but in the wisdom of NEC, it was awarded 0.05% of course, subject to review by the National Assembly.”