The Senate on Thursday gave power to the Revenue Mobilisation, Allocation and Fiscal Commission to monitor revenue accruals and disbursement.
The bill seeks to grant the commission enforcement powers in the monitoring of accruals to and disbursement of revenue from the Federation Account and to bring the Act in conformity with the provisions of the 1999 Constitution (as amended).
The Senate passed the bill following consideration of the report submitted by the Joint Committee on National Planning and Economic Affairs and Senate Committee on Finance which was presented by Senator Abdullahi Yahaya.
The Joint Committees in its report said, “One of the major factors militating against the performance and effective service delivery of the Commission was the out-moded nature of the extant act which this Bill seeks to address.
“Having considered the presentation of the Commission, and the clarifications and inputs made by the Ministries of Justice, and Finance, the Committees recommend that the Bill be passed as provided in the attached document which contains the provisions of the extant Act, the provisions of the Bill, and the recommendation of the Committees.”
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According to the report, the main objective of this Bill is to reinforce the mandate and powers of the Revenue Mobilization, Allocation and Fiscal Commission as a body constitutionally saddled with the responsibility of monitoring revenue generation and disbursement of same, to the three tiers of government of the Federation.
The Bill also prescribes the composition of the Commission and its modus operandi to ensure that the Federal, State and Local governments are adequately provided with the constitutionally mandated resources to address the challenges of governance and development. In the conduct of this onerous task the Commission requires adequate funding from the Federation account, the lack of which has hitherto hampered the effective performance of its Constitutional responsibilities.
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