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Home»Business»RMAFC, NEITI Deepen Partnership to Boost  Revenue from Extractive Industry
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RMAFC, NEITI Deepen Partnership to Boost  Revenue from Extractive Industry

TheSightNews .By TheSightNews .August 28, 2026No Comments4 Mins Read
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By Faith Anisiobi, The Sight News

The Revenue Mobilization, Allocation and Fiscal Commission (RMAFC) has called for stronger collaboration with the Nigeria Extractive Industries Transparency Initiative (NEITI) to promote transparency, accountability and improved revenue mobilization in Nigeria’s extractive industries.

RMAFC Chairman, Dr. Mohammed Bello Shehu, made the call on Friday, August 28, 2026, when the NEITI Executive Secretary, Hon. Musa Sarki Adar, led a delegation on a courtesy visit to the Commission’s headquarters in Abuja.

Shehu reaffirmed RMAFC’s commitment to deepening its longstanding partnership with NEITI, describing the relationship as strategic and mutually beneficial.

He commended NEITI for providing credible information on the operations and financial flows of the extractive industries, noting that its work had enhanced public understanding of the sector and strengthened accountability in the management of Nigeria’s natural resources.

“NEITI has earned a strong reputation through its consistent efforts to uncover facts, reconcile information and promote openness. That work is important to the country and deserves the support of all stakeholders,” he said.

The RMAFC chairman also acknowledged the contributions of NEITI’s international partners and expressed hope that stakeholders would continue to strengthen the organization’s capacity in information gathering, data verification, revenue transparency and accountability.

He assured NEITI of RMAFC’s continued support and willingness to collaborate in areas including data sharing, research, revenue monitoring and policy engagement.

Shehu also congratulated Adar on his appointment as NEITI Executive Secretary, describing it as well deserved and expressing confidence in his ability to provide effective leadership.

“Your appointment is well deserved. You have demonstrated commitment, competence and diligence in your professional career. I am confident that you will bring these qualities to bear in your new role and lead NEITI to even greater achievements,” he said.

Earlier, Adar described the relationship between NEITI and RMAFC as a long-standing partnership founded on a shared commitment to transparency, accountability and improved revenue mobilization.

“The relationship between NEITI and RMAFC is not new. It is a partnership built over time, and we must now take it to a higher level,” Adar said.

He highlighted RMAFC’s role in monitoring revenues accruing to the Federation Account and advising on measures to improve revenue collection and accountability, particularly from Nigeria’s natural resources.

According to him, reliable information on revenues generated from oil, gas and mining activities remains critical to fiscal management, public accountability and informed decision-making.

He said NEITI’s independent reconciliation of financial and physical flows in the extractive industries provides valuable data on revenues, payments, production, exports and company activities.

“NEITI’s reports can support RMAFC’s work in revenue monitoring, verification, policy analysis and the development of measures to improve revenue mobilization,” he said.

Adar further noted that Nigeria’s ongoing implementation of the 2023 EITI Standard provides an opportunity for the country to demonstrate measurable progress in strengthening governance across the extractive industries.

He said the standard’s focus on data reliability, systematic disclosure, transparency of revenue flows and institutional collaboration aligns with RMAFC’s mandate and provides opportunities for deeper cooperation between both institutions.

The NEITI executive secretary invited RMAFC to participate in the Global EITI Conference scheduled for October 8–9, 2026, in Brussels, Belgium, where Nigeria is expected to showcase its progress in resource governance.

He also called for stronger collaboration among NEITI, RMAFC and other relevant institutions in data sharing, revenue mobilization, research, capacity building and policy dialogue.

“Our objective should be to build a more coordinated institutional framework for revenue assurance and resource governance. By working together, NEITI and RMAFC can strengthen oversight and support evidence-based policymaking,” he said.

The meeting was attended by the Secretary to the Commission, Comrade Tosin Adeyanju, as well as directors and special advisers to the RMAFC chairman.

In a vote of thanks, the Director, Solid Minerals Department, Malam Rabiu Kabiru, thanked the NEITI delegation for the visit and reaffirmed the importance of the partnership between the two institutions.

He expressed confidence that the collaboration would continue to yield positive results for both institutions and the country.

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