The House of Representatives Committee on Finance has approved a budget of N105.14 billion for the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) for the 2025 fiscal year.
The approval came during the committee’s budget defence session on Tuesday with RMAFC management, led by Chairman Mr. Mohammed Shehu. The session was chaired by Lagos lawmaker, Abiodun Faleke.
Mr. Shehu disclosed that of the total budget, N20.6 billion is allocated for personnel costs, while N8.9 billion is designated for overhead expenses. The remaining N75.5 billion, representing 71.8 percent of the total budget, is earmarked for capital projects.
According to the budget document reviewed by our correspondent, projected revenues from January to June 2025, based on a 0.5 percent share of non-oil Federation revenue, amount to N37.20 billion. The revenue projection for July to December 2025 stands at N67.94 billion.
Commending the House committee, Shehu praised the recent amendment of the RMAFC Act, which he said has enhanced the commission’s capacity to operate more effectively.
Chairman Faleke said the committee was satisfied with the budget estimates after thorough review and reiterated the commitment of the committee to ensure full implementation through rigorous oversight. He also noted that the National Assembly would soon proceed on its annual recess but expects 30 to 40 percent of the budget to be implemented upon its return.
The approval marks a significant step in equipping RMAFC to continue its crucial role in revenue mobilisation and fiscal management across Nigeria.
