The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has proposed the establishment of a National Revenue Dashboard. This dashboard will interface with all revenue-generating agencies in the country to track revenues and enhance digital real-time monitoring of revenue inflows.

According to RMAFC, a framework should be established to review the revenue allocation formula statutorily every five years. These proposals were part of the decisions made during a three-day retreat for members and management staff of RMAFC held in Uyo, Akwa Ibom State. The retreat's theme was “Understanding the Role of Revenue Mobilisation Allocation and Fiscal Commission and other Stakeholders/Agencies in nation building.”

The communique, signed by Chairman Muhammed Shehu and Secretary Joseph Okechukwu, emphasized that the commission should establish the National Revenue Dashboard for digital real-time monitoring of revenue inflows. It also stated that RMAFC should put mechanisms in place to enhance its function in fiscal management, particularly concerning advisories on revenue, expenditures, and debt management.

Furthermore, the commission called for a review of the revenue allocation formula every five years, as per constitutional provisions. It suggested that Section 162 (2) of the constitution be amended to specify the timeframe for the president to present RMAFC’s proposal on the review of the revenue allocation formula to the National Assembly upon receipt from the commission.

The RMAFC also advocated for a constitutional amendment to include local government chairmen and councillors among the beneficiaries of the remuneration package listed in the 1999 Constitution of the Federal Republic of Nigeria, as amended.

The communique further stated that Section 162(6) of the constitution should be amended to ensure that local government allocations are paid directly to them from the Federation Account, aligning with the Supreme Court ruling delivered on July 11th, 2024, regarding local government financial autonomy.

Additionally, the commission proposed amending relevant sections of the Petroleum Industry Act (PIA) to expand the board of the Nigeria National Petroleum Company Limited to include representatives from major stakeholders, such as the state, local government, and the Central Bank of Nigeria (CBN).