The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) said it would review the country’s revenue allocation formula every five years.

The commission also called for the amendment of Section 162 (2) of the constitution to specify the time frame the President should present a revenue allocation formula proposal to the National Assembly.

These are contained in a communiqué issued at the end of a three-day retreat for newly-inaugurated members and management staff of the commission in Uyo.

The commission, in the communiqué signed by RMAFC Chairman, Dr Mohammed Shehu, and Secretary, Joseph Nwaze, said the current revenue allocation formula had existed for 16 years, noting that it was time it was reviewed.

“The constitution should also be amended to enable local government councils to receive payments directly from the federation account,” it said.

The commission held that such an amendment would fall in line with the July 11, 2024, Supreme Court judgment that granted financial autonomy to local government councils.

It called for a constitutional amendment to include local government council chairmen and councillors among the beneficiaries of the remuneration package listed in the 1999 Constitution.

The commission expressed its commitment to exercising its constitutional mandate of monitoring revenue accruals to ensure accurate and prompt remittance of revenues by the generating agencies.

It highlighted the need to establish a national revenue dashboard that would interface with revenue-generating agencies for digitised real-time monitoring.

It would be recalled that the Commission had in the recent past made attempts and had reviewed the allocation formula and forwarded it to then President Goodluck Jonathan towards the tail end of his administration.

But for unknown reasons, he did not transmit it to the National Assembly.

Another attempt was made under the former president, Mohammadu Buhari. He also did not transmit the proposal to the National Assembly before the end of his tenure.