Against the backdrop of persistent drop in Federal Government’s revenue, the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) has affirmed its commitment to explore new areas of revenue generation into the Federation Account.
RMAFC Chairman made the pledge when he received a delegation from the National Space Research and Development Agency (NASRDA) led by Dr. Abayomi Taofik Alaga, Director, Mission Planning and Satellite Data Management.
A statement by RMAFC’s spokesperson, Maryam Umar Yusuf, said NASRDA team was at the Commission to enlighten board members and management staff on how to explore new revenue lines for the federation.
Represented by Engr. Muhammed Sanni Baba, the Commissioner representing Bauchi State in the Commission, the Chairman disclosed that NASRDA was invited by the Commission to make a presentation on how to optimize possible areas of income generation into the Federation Account.
This, he said, was in line with the core mandates of the Commission, which are; to identify, mobilize, monitor, and recommend alternative sources of revenue into the Federation Account for sharing amongst the beneficiaries.
“We welcome the delegation from NASRDA as they lead us to understand the details of the modus operandi of their organization and enlighten us on how we can better achieve our mandate as the Agency responsible for generating revenues for the three tiers of government in Nigeria,” he said.
The Chairman also disclosed the decision of the Commission to extend the collaboration between NASRDA to NIGCOMSAT to leverage optimized satellite operations in order to enhance monitoring and evaluation of accruals into the Federation Account.
A member of the delegation, Dr. Leke Oyewale, who is the Managing Director of Milky – Way Visuals, made an extensive presentation on the potential revenue streams that can be generated from space technology through the deployment of geospatial support.
The NASRDA team explained various initiatives such as satellite development, space-based services, and commercialization of space research that can generate revenue into the Federation Account.
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