Reps Approve Massive ₦105bn Budget for RMAFC Operations

The House of Representatives Committee on Finance has approved a total budget of ₦105.14 billion for the operations of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) for the 2025 fiscal year. This decision was reached during a budget defense session with RMAFC officials, led by the commission’s chairman, Mohammed Shehu.

According to iReporter Online, the committee, chaired by Lagos lawmaker Abiodun Faleke, reviewed and adopted the proposed estimates, expressing satisfaction with the breakdown provided by the commission’s leadership. Details from the session indicate that ₦20.6 billion of the total budget will cover personnel costs, while ₦8.9 billion has been earmarked for overhead expenses.

The commission’s revenue projections for the year were also outlined, with ₦37.20 billion expected from January to June 2025, and ₦67.94 billion projected between July and December. These revenues are anticipated from 0.5 percent of non-oil income from the Federation Account.

Shehu revealed that capital projects account for the majority of the allocation, with ₦75.5 billion—representing 71.8 percent of the total budget—dedicated to capital expenditure. He commended the finance committee for facilitating a recent amendment to the RMAFC Act, which he said would enhance the commission’s efficiency and accountability.

Committee chairman Faleke affirmed the committee’s commitment to rigorous oversight and full implementation of the approved budget. He noted that the National Assembly would soon embark on its annual recess and expects 30 to 40 percent implementation of the commission’s budget upon resumption.