The House of Representatives Committee on Finance (RMARF) on Tuesday approved the sum of N105.14bn for Revenue Mobilisation Allocation and Fiscal Commission (RMARF) operations for the 2025 fiscal year.
The committee, chaired by Lagos lawmaker, Abiodun Faleke, adopted the proposed budget during the budget defence session with the management of RMAFC led by its Chairman, Mr. Mohammed Shehu.
Shehu, at the event, told the committee that out of the total proposal, N20.6bn was for personnel, while the sum of N8.9bn was for overhead expenditure.
According to the document cited by our correspondent, projected sources of revenue from January to June 2025, from 0.5 per cent non-oil Federation revenue, stand at N37.20bn, while the projected revenue from July to December 2025 stands at N67.94bn.
The RMAFC boss noted that, “The sum of N75.5bn representing 71.8 per cent of the total budget is earmarked for capital estimates.”
He commended the committee for championing the recent amendment of the RMAFC Act, saying that it had positioned the commission to perform more effectively.
On his part, Faleke said that the committee had gone through the budget and was satisfied with the estimates, adding, “Through our oversight, the committee will ensure full implementation of the budget.”
He noted that the National Assembly would proceed on its annual recess within the week, stressing that upon return, the committee expects between 30 to 40 per cent implement.
