In a strategic move aimed at enhancing Nigeria’s economic landscape, the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) is joining forces with the Ministry of Interior to bolster revenue collection and attract foreign investment. This collaboration was highlighted during a recent courtesy visit by RMAFC Chairman, Mohammed Shehu, to the Minister of Interior, Dr Olubunmi Tunji-Ojo, in Abuja.
During the meeting, Shehu expressed that the primary goal of this partnership is to create a conducive environment for foreign investors. He announced plans for an upcoming oil and gas summit designed to stimulate investment opportunities in both upstream and downstream sectors.
“RMAFC plays a crucial role in monitoring revenue accruals, ensuring lawful disbursement, and reviewing allocation formulas while determining the remuneration for public office holders,” Shehu explained. He emphasised the commission’s authority to request financial information from organisations to ensure transparency in revenue generation and distribution.
Shehu commended the supportive role of agencies within the Ministry of Interior, particularly in inter-agency verification exercises, which he identified as essential for maintaining accountability in revenue management. He also praised the significant reforms underway in immigration and civil defence agencies, noting marked improvements in service delivery.
In his response, Minister Tunji-Ojo underscored the importance of collaboration among government institutions as a cornerstone of national development. “Collaboration is the essence of effective governance; no single institution can thrive in isolation,” he stated.
The minister highlighted the ministry’s initiatives to leverage migration management and immigration documentation to drive economic growth while enhancing investor confidence. “We have digitised our processes, simplified visa systems, and improved transparency to facilitate easier access for investors. While citizenship is constitutionally regulated, we are exploring investor-friendly residency pathways within legal frameworks,” Tunji-Ojo added.
Additionally, Enefe Ekene, the Chairman of the Investment Monitoring Committee of RMAFC, stressed the necessity of a stable and transparent environment for investment to flourish. He described the Ministry of Interior as a vital partner in enhancing migration, residency, and business entry systems.
Both the RMAFC and the Ministry of Interior reaffirmed their dedication to deepening their collaboration, which is expected to enhance revenue generation and attract significant investment for Nigeria’s national development. This partnership reflects a proactive approach to ensuring that the country remains competitive in the global market, fostering an ecosystem conducive to investment and economic growth.
Leave a Reply