In a bold move to shore up national finances and improve fiscal transparency, the Federal Government has inaugurated a comprehensive revenue recovery initiative aimed at identifying and reclaiming unremitted revenuesacross key sectors of the Nigerian economy.
The exercise, which officially kicked off on Monday in Abuja, is being jointly coordinated by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) and the Federal Inland Revenue Service (FIRS). Over 50 revenue recovery consultants have been engaged to execute the assignment, which is expected to run for six months.
Strategic Step Toward Fiscal Reform
Speaking during the inauguration at RMAFC headquarters, Dr. Mohammed Bello Shehu, Chairman of RMAFC, emphasized that the project is a strategic move to plug revenue leakages and strengthen the fiscal framework across all tiers of government.
“This is not a routine administrative action but a deliberate, result-oriented innovation designed to strengthen fiscal governance and ensure every recoverable naira due to the Federation is transparently remitted,” Shehu stated.
He explained that the initiative aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritizes transparency, accountability, and efficient public finance management.
Consultants to Trace and Recover Revenues
The over 50 appointed consultants will focus on tracing unremitted funds in various sectors, ensuring that all revenues legally due to the Federation Account are fully recovered and documented.
According to Shehu, the Commission’s decision to outsource part of the recovery efforts is both strategic and constitutional, leveraging specialized expertise to enhance the efficiency and reach of the programme.
Full Inter-Agency Support for Revenue Drive
Representing the FIRS Chairman, Dr. Zacch Adedeji, at the event, Shettima Tamadi, Coordinating Director at FIRS, pledged full collaboration with RMAFC and praised the Commission’s leadership for taking proactive steps toward fiscal sustainability.
“Nigeria has a huge revenue gap, but with stronger collaboration between agencies and partners, we can bridge that gap and achieve sustainable fiscal growth,” Tamadi said.
Recovered Revenues to Fund National Priorities
Also speaking at the event, Mr. Joseph Nwaeze Okechukwu, Secretary to the Commission, urged the consultants to carry out their duties with diligence and professionalism.
He stressed that the recovered funds would directly support national development priorities, including infrastructure, healthcare, and education.
“You are expected to ensure that all recoverable revenues are returned to the Federation Account within the stipulated timeframe,” he said.
