The Delta government and the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) have strengthened collaboration to diversify the state’s economy beyond oil and improve sustainable revenue generation.
The renewed partnership was reaffirmed on Monday in Asaba during RMAFC’s assessment tour of Delta’s economic diversification projects and programmes.
Chairman of the RMAFC Economic Diversification Committee, Mr Victor Eboigbe, said Nigeria must urgently reduce its dependence on oil revenues to secure long-term economic growth and fiscal stability.
Eboigbe said excessive reliance on oil income had become increasingly unsustainable, exposing governments to unpredictable fluctuations in global hydrocarbon markets and weakening national economic resilience.
“Overdependence on oil and gas revenues has remained a major challenge for Nigeria’s economy,” he said.
He said recurring volatility in international energy markets reinforced the need for governments to accelerate diversification strategies capable of creating stable and sustainable revenue sources.
According to him, agriculture, manufacturing, technology, innovation, tourism and the creative economy remain critical sectors capable of transforming Delta’s economy and creating employment opportunities.
Eboigbe said Delta possessed abundant human capital and rich natural resources that could support sustainable development if effectively harnessed through deliberate planning and sound economic policies.
He explained that the committee’s visit was designed to evaluate Delta’s economic diversification policies, programmes and projects in line with RMAFC’s constitutional responsibility of promoting fiscal efficiency.
Eboigbe said the assessment formed part of wider national efforts following previous advocacy programmes and a presidential directive encouraging diversification across the federation.
He disclosed that questionnaires had already been distributed to ministries, departments and agencies to enable comprehensive evaluation of ongoing initiatives and policy implementation.
According to him, the findings will provide valuable insights for improving fiscal sustainability and strengthening economic planning at both state and national levels.
Eboigbe said the exercise supported President Bola Tinubu’s Renewed Hope Agenda, which prioritised industrialisation, manufacturing, digitisation, innovation and the creative economy.
He noted that strengthening these sectors would reduce dependence on crude oil while expanding opportunities for investment, productivity, wealth creation and inclusive economic development.
The Commissioner for Economic Planning, Mr Sunny Ekedayen, described the visit as a strategic partnership aimed at preparing Delta for a resilient future beyond crude oil dependence.
Ekedayen said RMAFC’s responsibilities extended beyond revenue allocation to identifying practical strategies capable of expanding Nigeria’s economic base and promoting sustainable revenue generation.
“They are not only responsible for sharing the national cake; they are also looking at how the cake can become bigger,” Ekedayen said.
He explained that Delta was selected among the pilot states because of its commitment to economic reforms and forward-looking development policies.
According to him, responsible governments must prepare today for future economic realities by reducing dependence on crude oil revenues through deliberate planning and strategic investments.
“They are here to help us prepare for life beyond oil. It is something all of us must take very seriously because the future demands deliberate planning,” he said.
Ekedayen stressed that the federal delegation had not come to criticise government programmes but to provide technical support and strengthen existing development initiatives.
He said: “This time around, they are not coming to take from us.
“They are actually coming to add value, help us identify gaps and strengthen our economic planning process.”
He assured the delegation of Delta government’s full cooperation, promising unrestricted access to relevant information and productive engagement with ministries, departments and agencies throughout the assessment.
Welcoming the delegation on behalf of Gov. Sheriff Oborevwori, Ekedayen expressed confidence that the partnership would accelerate reforms and strengthen the state’s economic resilience.
He said the collaboration would improve revenue diversification, enhance fiscal sustainability and position Delta for lasting prosperity beyond dependence on crude oil revenues.
