The Revenue Mobilisation Allocation and Fiscal Commission on Friday said the Federal Government’s input on the review of the current revenue allocation sharing formula was still awaited.

It also said a public hearing on the ongoing review exercise had been fixed for November 9.

Speaking while briefing the Secretary to the Government of the Federal, Boss Mustapha on Friday,  the Chairman of the commission, Elias Mbam, described the Federal Government as a critical stakeholder whose input was necessary for the completion of the exercise.

Mbam said, “We are still expecting the inputs of the Federal Government with respect to the review. The Federal Government is a critical Stakeholder and its views and opinion are indispensable in the review exercise.

“The task before the commission is enormous and requires the support and cooperation of all Nigerians. In this regard, I wish to call for your support at all levels of the review process to its logical conclusion.

 “The commission is poised and determined to achieve this onerous task and give the nation a new revenue allocation formula that will meet the yearnings and developmental aspirations of Nigerians.”

He further said the commission had made several attempts to review the revenue allocation formula in 2001, 2002, 2003, 2006, and 2014 where all necessary processes required were concluded, though the final process was inconclusive.

He, however, said the commission had invited memoranda from all stakeholders by placing an advertisement in both print and electronic media, adding that zonal public hearings were held in all the six geo-political zones of the country in addition to sensitisation tours to all the states and local governments.

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He added, “A grand finale is scheduled to hold in Abuja on November 9, 2021. Similarly, the commission has obtained relevant data from relevant Agencies for use in the review process. Studies on fiscal matters relating to the allocation of federation revenue are being carried out by the commission. All these are aimed at ensuring that the new revenue formula shall be fair, just, and equitable.”

The Secretary to the Government of the Federation, Boss Mustapha, said the new formula was long overdue.

Represented by the Permanent Secretary, Ecological Project Office, OSGF, Dr Habiba Lawal, he added, “Also, it will be good for us to reiterate the importance of the fact that any revenue allocation formula should be based on the constitutionally allocated functions.

“So the funds should be put where the responsibilities are. We are looking forward to that happening as part of the key component of the new exercise.”