RMAF Chairman Says Primary Role Of Agency Is To Advise Tiers Of Govt On Revenue Diversification



Chairman, Revenue Mobilisation Allocation and Fiscal Commission, (RMAFC), Abuja,  Engr, Elias Nwalem Mbam has said that the primary roles of the commission is to mobilise revenue, to diversify and to advice all tiers of government on fiscal efficiency.

L-R: Chairman, Revenue Mobilisation Allocation and Fiscal Commission Abuja, Engr. Elias Nwalem Mbam with Managing Director, Nigeria Commodity Exchange, Mrs. Zaheera Baba Ari during a courtesy visit to the Commission by the latter in Abuja on Wednesday June 23, 2021. Photo Bashir Bello Dollars

He was speaking when the Managing Director of Nigeria Commodity Exchange Board, Mrs Zaheera Baba Ari led the management team on a courtesy call to the Revenue Mobilisation Allocation and Fiscal Commission office in Abuja on Wednesday.
Engineer Elias explained that his commission has visited the six geopolitical zones to sensitise the governments and the people of each zones on the need for them to diversify their economies and  know the resources available in their zones which they could  harness.
He said, “Before now,  solid minerals was not contributing to the federation account but with advocacy, sensitisation and collaboration with the commission and Ministry of Mines and Steels, solid minerals is now contributing reasonably”.
He revealed that in recent times,  oil revenues to the federation have dwindled significantly, and that there is the need for all the tiers of government to beam their searchlight on non oil sectors like  agriculture, tourism and solid minerals.
Engineer Elias added that his commission is therefore, willing and ready to work with the Nigerian Commodity Exchange (NCE), since its mandate is also to explore the use of agriculture to boost the revenue base of the country.
‘In recent times, oil has not been contributing  much to the economy and so we have to fall back to non oil sectors such as agriculture, tourism and solid minerals and so any agency that is working to enhance the revenue base of the country, we are willing to work with such,” he said.
The RMFAC boss  said that  a six-man commitee would be set up to further explore how his commission and NCE to would collaborate in order to deepen ways by which the non oil sectors could be further harnessed in the area of revenue generation.
According to Elias, the six-man committee would be made up of 3 members each  from RMAFC and   NCE.
Speaking earlier, the MD of NCE, Mrs Baba Ari said that the purpose of the visit of NCE officials to the commission was to explain to the  what NCE does and to seek for collaboration between the agency and RMAFC.
Speaking further, Mrs. Baba Ari explained that the NCE’s mandate is to ensure that Nigerian farmers get a platform for where they can market their commodities.
She added that with the provision of platform for selling of farm products, the farmers would benefit and the government’s revenue would be boosted.
She further added that for every revenue generated by the NCE, a percentage goes to TSA.
She therefore, assured  that her agency would train officials of RMAFC in order for the two bodies to collaborate in order to sensitise the farmers on the need to use the NCE as a marketing platform which would in turn be beneficial to the commission.


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