RMAFC To Unveil New Allocation Formula Before End Of 2021

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) on Monday announced that a new formula for sharing revenue between the states and federal government will be unveiled before the end of 2021.

The commission made the revelation in a statement issued in Abuja.

The RMAFC statement noted that “arrangements to fully commence the review of the Nation’s Revenue Allocation Formula (RAF) has been concluded.”

It added that when completed “the review is targeted at equitable distribution of the accrued revenue into the Federation account to the three tiers of government.”

Details later…