RMAFC, Interior Ministry partner to boost foreign investment
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has initiated plans to cooperate with the Federal Ministry of Interior to attract more foreign investment into the country. This formed the
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has initiated plans to cooperate with the Federal Ministry of Interior to attract more foreign investment into the country.
This formed the focus of a meeting in Abuja on Thursday, where RMAFC Chairman, Dr. Mohammed Bello Shehu, led a delegation to engage with the Minister of Interior, Olubunmi Tunji-Ojo, on issues ranging from revenue generation to migration management and national development.
Speaking during the meeting, Shehu said the Commission was preparing to host a major oil and gas summit aimed at drawing investment into both upstream and downstream segments of the sector. He explained that the initiative is part of broader efforts to improve revenue inflows and strengthen the country’s economic base.
He noted that the Commission plays a key constitutional role in monitoring funds paid into the Federation Account and ensuring that such revenues are shared in line with existing laws. According to him, the agency also reviews revenue-sharing formulas and determines the pay structure for top public office holders.
“Every legitimate revenue due to the Federation must be properly accounted for and distributed in accordance with the law,” Shehu said.
The RMAFC chairman acknowledged ongoing reforms within the ministry, pointing to improvements in immigration processes and the operations of related agencies. He said these changes are already making a difference and are being noticed across the country. He commended agencies under the Interior Ministry for their cooperation during joint verification exercises, describing such support as vital for transparency and accountability in public finance management.
In his response, the Minister for Interior Dr. Olubunmi Tunji-Ojo, acknowledged the importance of synergy among government institutions. He said no single agency can achieve national goals on its own, adding that collaboration remains central to effective governance.
“Collaboration is the soul of governance. No institution can succeed in isolation, and our doors remain open to every agency committed to national development,” the minister said.
Tunji-Ojo explained that the ministry has been using migration policies as a tool to support economic growth and make Nigeria more attractive to investors. He said reforms introduced so far include the digitisation of key processes, simpler visa procedures and improved transparency.
“Our agenda has been to use migration management as an enabler of business. We have digitised major processes, simplified visa systems, improved transparency, and reduced bottlenecks so that investors can access Nigeria more easily,” he said.
He added that while citizenship matters are strictly guided by the Nigerian Constitution, legal pathways exist that allow foreign investors to obtain residency and remain in the country for extended periods in line with economic objectives.
Earlier, a federal commissioner and member of the Commission’s Investment Monitoring Committee, Enefe Ekene, said the committee is responsible for overseeing government investment initiatives and efforts to attract foreign direct investment.
He explained that the decision to seek closer ties with the Interior Ministry was driven by the need to create a stable and transparent environment that supports investors.
According to him, efficient migration systems and clear entry processes are essential in building confidence among foreign businesses and boosting national revenue.
