Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Dr. Mohammed Shehu has called for a robust approach to domestic revenue mobilisation to finance national development.
Dr. Shehu made the call while making his presentation at the just concluded 2024 edition of the National Council on Finance and Economic Development (NACOFED), with the theme, “Fostering Economic Growth in Challenging Times: Strategies for Policies and Partnership for Fiscal Sustainability and National Development,” which took place in Bauchi.
He emphasised the urgent need for diversifying Nigeria’s revenue base to ensure fiscal independence and economic resilience.
Dr. Shehu noted that Nigeria’s reliance on oil revenue, coupled with global price volatility and rising debt burdens, has highlighted the need for sustainable alternatives.
“Boosting domestic revenue provides a predictable foundation for national planning and reduces reliance on external borrowing,”…