The House of Representatives Committee on Finance has approved the 2025 budget proposal of N105.14 billion for operations of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC).
The budget approval took place during a budget defence session held in Abuja on Tuesday, where RMAFC’s management team, led by its Chairman, Mr. Mohammed Shehu, appeared before the committee.
While presenting the budget breakdown, Mr. Shehu explained that N20.6 billion was allocated for personnel costs, and N8.9 billion was designated for overhead expenses.
He further stated that a substantial N75.5 billion – equivalent to 71.8% of the total budget was earmarked for capital expenditure.
Mr. Shehu also used the opportunity to commend the committee for its recent role in amending the RMAFC Act, noting that the reform has enhanced the commission’s operational capacity.
The Committee Chairman, Hon. James Faleke (APC-Lagos), affirmed that the committee had thoroughly reviewed the proposed budget and found the estimates satisfactory.
He added that the committee would, through its oversight mandate, monitor the implementation of the budget to ensure it is carried out in full.
Faleke noted the National Assembly would commence its annual recess later in the week.
Upon resumption, he said the committee expects to see between 30% to 40% of the budget already implemented.
Following its adoption by the Finance Committee, the appropriation bill will proceed to the Committee of the Whole for its third reading before being sent to the President for final approval and assent.
Juliet Akoje
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