NEC approves 0.05% non-oil revenue funding for RMFAC

The National Economic Council (NEC) has approved the allocation of 0.05% of non-oil federation revenue to fund the Revenue Mobilisation and Fiscal Allocation Commission (RMFAC).

Governor Chukwuma Soludo of Anambra State disclosed this while briefing State House reporters after the NEC meeting presided over by Vice President Kashim Shettima.

He said the funding decision was part of broader efforts to strengthen the commission’s operations and implement tax reforms.

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Soludo highlighted that RMFAC, as a vital institution in the federation, faces challenges of inadequate funding, which hinders its capacity to fulfill its mandate.