The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) according to the act setting it up, states that:
1) The Commission shall have the power to:
(a) monitor the accruals to and disbursement of revenue from the Federation Account
(b) review, from time to time, the revenue allocation formula and principles in operation to ensure conformity with changing realities
(c) advise the Federal, State and Local Governments on fiscal efficiency and methods by which their revenue is to be increased
(d) determine the remuneration appropriate to the holders of the offices as specified in Parts A and B of the First Schedule to this Act.
However, as good as these might look on paper the effectiveness of the RMAFC is glaring for all to see in this country especially as it relates to section (d) of the act.
According to the RMAFC ‘Remuneration Package for Political, Public and Judicial Office Holders’ which became effective July 1, 2009, a governor is expected to earn an annual salary of N11,540,896. N 2,223,705 is annual basic salary and an annual leave allowance of N222,370.50. Based on the 2009 approved earning, the governor is entitled to 400 per cent of his annual basic salary, amounting to 8,894,820.00, as a loan for vehicles and maintenance.
However, a cursory look at this amount shows a disparity in the way of life of state executives. They move about in convoys of bulletproof cars which can’t be catered for by their vehicle allowance, they build mansions worth billions for personal use as seen in the Okenne mansion of Governor Yahaya Bello and his other colleagues.
Some of these state executives fly private jets even for short distance trip like Lagos and to Ibadan. Their children attend the most expensive foreign universities among other luxury lifestyles.
This has brought to fore the question about the effectiveness of the RMAFC package for political office holders as they are known to live beyond their means as displayed to the public.
As a result, How effective is the Revenue Mobilisation Allocation and Fiscal Commission?
Omoleye Omoruyi… an apprentice web/game developer, novelist, sensitive to happenings in the world. Meet him @Lord_rickie on Twitter/Instagram
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