The House of Representatives Committee on Finance has approved a 2025 budget proposal of ₦105.14 billion for the operations of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC).
The approval was granted during a budget defence session held Tuesday in Abuja, where RMAFC Chairman, Mr. Mohammed Shehu, led the commission’s management team to present the budget estimates.
According to Mr. Shehu, the proposed budget includes ₦20.6 billion for personnel costs and ₦8.9 billion for overhead expenses. A significant portion—₦75.5 billion, representing 71.8% of the total budget—is allocated for capital expenditure.
While addressing the committee, Shehu commended lawmakers for their recent amendment of the RMAFC Act, saying the reform had strengthened the commission’s ability to perform its constitutional duties effectively.
Committee Chairman, Hon. James Faleke (APC–Lagos), confirmed that the committee had carefully reviewed the budget proposal and found the figures to be satisfactory. He pledged that the committee would exercise its oversight responsibility to ensure full and effective implementation.
“With the National Assembly set to proceed on its annual recess later this week, we expect that by the time we resume, at least 30% to 40% of the budget should have been implemented,” Faleke stated.
Following the committee’s endorsement, the appropriation bill is expected to move to the Committee of the Whole for third reading before transmission to the President for final approval and assent.
