OrderPaperToday – The House of Representatives has passed a bill that seeks to amend the Revenue Mobilization, Allocation and Fiscal Commission Act through its second reading.
The bill, sponsored by Uzoma Abonta (PDP, Abia), seeks to ensure the commission adequately performs its statutory functions of monitoring revenue generation.
Leading the debate on the bill, Abonta noted that it would empower the Commission and put revenue generation in proper perspective, in line with relevant sections of the Constitution, when passed.
He added that one of the major functions of the commission involves fieldwork, adding that the continuous leakages across the country have reinforced the need to amend the bill.
According to the Abonta, “as it is, the Commission is not funded well enough to carry out its duties effectively.”
Finally, the Abia State Senator revealed that the monthly Federal Accounts and Allocation Committee (FAAC) meeting for June did not hold because revenue generated by the Nigeria National Petroleum Company (NNPC) was not properly accounted. This was as a result of no proper monitoring of revenue generated by the NNPC.