The National Economic Council (NEC), chaired by Vice President Kashim Shettima, has approved a 0.05% marginal increase in workers’ emoluments under the Revenue Mobilization Allocation and Fiscal Commission (RMAFC).
This decision was revealed by Anambra State Governor, Charles Soludo while briefing State House correspondents on Thursday.
Governor Soludo disclosed that the Commission had initially requested a 0.75% increment, citing the enormity of its responsibilities in mobilizing and allocating funds to states for developmental projects. However, NEC approved a reduced figure of 0.05%.
He added that the RMAFC has been directed to draft a bill for the proposed review and present it to the National Assembly for legislative approval.
Soludo said, “Among the issues discussed at today’s NEC was the presentation of a report in respect of an earlier presentation by the chairman of the Revenue Mobilization Allocation and Fiscal Commission to NEC on the 21st of November, 2024 seeking essentially revised or repeal the existing Act of Parliament establishing the Commission and to replace it with a new one.
“Then it is also seeking for revision, I mean a review about alternative funding to the institution. So the report elaborately noted the very onerous responsibilities of RMAFC as a very beautiful institution in the functioning of the Federation and noted the inadequate funding for this institution to be able to perform its tasks.
“NEC also noted the draft repeal and replace legislation that was also pending and after deliberating on this, the Council noted and approved as follows. First is that RMAFC should forward the draft bill to the National Assembly for consideration and passage into law.
“The Council also approved the recommendation for improved funding for RMAFC and approved that the Commission be funded with 0.05% non-oil federation revenue based on the proposed tax reforms and subject to further scrutiny by the National Assembly. I know the Commission had requested for 0.75% but in the wisdom of NEC, it was awarded 0.05% of course, subject to review by the National Assembly.”