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The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has announced a significant growth of N23.06 trillion in Nigeria’s Federation Account within the first ten months of 2025. According to Dr. Mohammed Shehu, Chairman of RMAFC, this performance surpasses the N11.93 trillion recorded in 2023 and N21.43 trillion in 2024.
Shehu attributed the revenue growth to fiscal reforms, improved coordination among revenue agencies, stronger audits, and expanded digital tracking systems. He noted that the improved inflows have strengthened allocations to federal, state, and local governments, reducing volatility and dependence on oil revenues.
The RMAFC chairman reaffirmed the commission’s commitment to monitoring accruals and safeguarding federation revenues through transparency and accountability measures. He also highlighted the importance of the new Tax Act, which will take effect in January 2026, aiming to streamline administration, reduce compliance costs, and strengthen revenue governance.
Minister of Solid Minerals Development, Dr. Dele Alake, emphasized the commission’s role in Nigeria’s peace and governance architecture, calling for collaboration to implement the Act effectively.
Other stakeholders, including Mr. Desmond Akawor and Taiwo Oyedele, praised the tax reforms, noting they will create a fairer, simpler, and more efficient system, boosting economic growth and government revenue.
Notably, Oyedele mentioned that Nigerians will stop paying certain taxes, including those on food, shelter, and education, starting January.
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