From Kenneth Udeh, Abuja
The Senate on Wednesday approved the sum of ₦105,140,926,744.08 for the 2025 fiscal year budget of the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) following the presentation and adoption of a harmonised report by the Senate Committee on National Planning and Economic Affairs and the House of Representatives Committee on Finance.
Presenting the report at plenary, Chairman of the Senate Committee on National Planning and Economic Affairs, Senator Yahaya A. Abdullahi (APC, Kebbi North), said the budget was in line with the provisions of the RMAFC Act, 2025, and the 0.5% of the non-oil Federation Revenue approved by the National Economic Council (NEC) in December 2024 for the funding of the Commission across the three tiers of government.
According to the harmonised budget details, the total allocation of ₦105.14 billion comprises:
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– Personnel Cost: ₦20,636,277,973.19
– Overhead Cost: ₦8,949,992,489.81
– Capital Expenditure: ₦75,554,656,281.08
The combined recurrent expenditure amounts to ₦29.59 billion, representing 28.14%, while the capital component, ₦75.55 billion, represents 71.86% of the total budget.
Abdullahi, a former Leader of the Senate, noted that the Committees thoroughly reviewed the budget proposal as presented by the Commission, including justifications for the line items, and were satisfied with the fiscal framework and distribution.
The report stated that the funding proposal was based on:
– The NEC-approved 0.5% of non-oil revenue from the Federation Account;
– Projected annual revenue of ₦105.14 billion for the Commission;
– A fiscal distribution of 19.63% for personnel, 8.51% for overhead, and 71.86% for capital expenditure.
“Having critically considered the 2025 budget proposals of the Commission and convinced of the merit of its provisions, we hereby recommend that the Senate approves the budget as presented,” Senator Abdullahi declared.
Following the presentation, the Senate President, Godswill Akpabio, put the recommendations to a voice vote, which was overwhelmingly adopted by the lawmakers.
In his remarks, Akpabio commended Senator Abdullahi and the Committee for their diligent work, reaffirming the Senate’s commitment to supporting institutions that contribute to national economic planning and efficient revenue management.
“This budget approval reflects our collective resolve to empower key revenue institutions and ensure they have the necessary resources to carry out their constitutional duties effectively,” Akpabio added.
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