Nigeria: '2012 Budget Won't Accommodate New Revenue Formula'

14 October 2011

The new revenue formula expected to be unveiled next year by the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) will not be captured in the 2012 budget, the Chairman of the commission Engr. Elias Mbam has said.

Speaking yesterday in Abuja when the Acting Governor of Plateau State, Ignatius Longjan visited him, the chairman said the new revenue formula cannot be accommodated in the 2012 budget because of the progress made so far in its preparation.

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