Reps approves N105.14bn budget for RMAFC

By Gift ChapiOdekina, Abuja

The House of Representatives Committee on Finance has approved the 2025 budget proposal of N105.14 billion for the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC).

The approval was given on Tuesday during a budget defence session at the National Assembly in Abuja, where the Chairman of RMAFC, Mr. Mohammed Shehu, led the commission’s management team to present the estimates.

According to Shehu, the proposed budget includes N20.6 billion for personnel costs, N8.9 billion for overheads, and a significant N75.5 billion for capital expenditure, which accounts for 71.8 per cent of the total budget.

He expressed appreciation to the committee for recently championing the amendment of the RMAFC Act, noting that the legislative support had strengthened the commission’s operational capacity.

Chairman of the Committee, Rep. James Faleke (APC–Lagos), said the panel had thoroughly reviewed the proposal and found it satisfactory. He assured that the committee would leverage its oversight powers to ensure effective implementation of the budget.

“With the National Assembly proceeding on its annual recess this week, we expect that by the time we return, about 30 to 40 per cent of the budget would have been implemented,” Faleke stated.

Following the committee’s endorsement, the appropriation bill will be presented to the Committee of the Whole for third reading and subsequent transmission to the President for assent.

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