The Revenue Mobilization Allocation and Fiscal Commission, RMAFC, has called on the President Muhammadu Buhari-led Federal Government to remove fuel subsidy because it has become a burden on the nation’s economy.
RMAFC’S Head of Public Relations, Ibrahim Mohammed disclosed this in a statement yesterday in Abuja, stressing that the subsidy had not served the masses as it was supposed to hence the need for its removal.
Mohammed said, “It has become a major fiscal and financial burden to the nation and should therefore be discarded totally since the intended targets, the poor and middle income class, were often denied the benefits.
“The removal will drastically reduce the pressure on the revenue profile of the country just as it will free additional funds for the execution of developmental projects which would have direct bearing on the masses.”
The commission also restated Its resolve to fully complement the efforts of the Federal Government in the effective implementation of the 2016 budget.
Mohammed stressed that the commission intend to do so by beefing up revenue generation from diverse revenue sources and ensuring timely remittances by all revenue generating agencies into the federation account for the rapid development of the country.
The statement noted that the major highlights of the proposed budget by President Muhammadu Buhari were in line with the commission’s mandate of monitoring accruals to and disbursement of revenue from the Federation Account.
He recalled that beyond mobilizing revenue from traditional sources namely oil and gas and the non-oil sector, RMAFC had in the last two years been effectively engaged in promoting economic diversification through advocacy and mass mobilization campaign.
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