Key Takeaways
- The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has completed the review of remuneration for political office holders.
- The review covers the president, governors, deputy governors, legislators, and other political office holders.
- The existing salary structure is based on legislation dating back to 2007/2008 and has not been reviewed by law since then.
The RMAFC Chairman, Dr. Mohammed Bello Shehu, disclosed that the Commission has completed the process of reviewing the remuneration of political office holders, 18 years after their salaries were last reviewed by law.
According to Shehu, the remuneration review is being processed in collaboration with the Federal Ministry of Justice, and the proposed new remuneration and revenue allocation Bills will reach the National Assembly before the end of the year.
Shehu stressed that the existing salary structure was no longer sustainable, given the change in the cost of living since 2008, and argued that better remuneration could help reduce incentives for corruption.
The Commission is also advocating for fair wages for fair work, with Shehu noting that the current salaries of ministers and commissioners are less than N1 million a month, which is not reasonable.
Revenue Allocation
RMAFC has also completed a new revenue allocation formula designed to reflect additional responsibilities being assumed by state governments.
Shehu said the Commission has made adjustments to the formula and is working in collaboration with the Ministry of Justice to draft the enabling Act.
The Commission expects the remuneration and revenue allocation Bills to be ready before the end of the year.
Local Government Autonomy
RMAFC has established monitoring committees for both state and local governments to ensure proper utilisation of allocations.
Shehu said the Commission used to monitor local governments previously and has now set up a Local Government Monitoring Committee and a State Monitoring Committee.
Why This Matters
The review of political office holders' salaries and revenue allocation formula is crucial in ensuring that those in power are reasonably compensated and that resources are allocated efficiently, which could have a positive impact on the country's governance and economy.