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NEWS UPDATE: Revenue allocation: Obiano demands 50% for states

NEWS UPDATE: Revenue allocation: Obiano demands 50% for states

The Anambra Province Governor, Willie Obiano, has proposed a revenue-sharing formula of 50, 30, and 20 percents for province, local and federal governments, respectively.

The governor stated this on quarta-feira piece declaring open the sensitisation exercise for a new revenue allotment formula for the country held in Awka, the province working capital.

Obiano who was represented by his Deputy, Dr Nkem Okeke, said states should acquire the king of beasts’s part of allotment because they shouldered the highest level responsibilities amid the three- tiers of authorities

He said: “Issues of security, wellness aid, education and infrastructure in the states require huge, immense resources and funding.

“The existing revenue formula of 26 percent collectable by states is grossly inadequate.”

Before a Federal Commissioner, in the Revenue Mobilisation Allotment and Financial Commission, Chima Okafor, said the squad was given a specific constitutional mandate to review from time to time the revenue allotment formula and principles in surgery.

This he said was to ensure conformity with changing realities, “if that the revenue formula which had been accepted by an Human action of the National Assembly shall remain in strength for a period of not less than 5 years from the date of graduation of the Human action”.

“It is in compliance with that constitutional provision and in view of the changing socio-economic and political dynamics of the country that prompted the commission to commence full-scale engagement of representatives of various stakeholders and the people nationwide in the physical process of fashioning a new revenue sharing formula for the country.

“Inputs from the people at the interactive exercise will provide pathways for creating a workable template to assist the commission in its task of evolving and bequeathing to the country a fair, just and equitable new revenue sharing formula.”

Okafor said the commission was desirous of providing within the shortest possible time a generally acceptable revenue formula that would see the expectations of the 3 tiers of authorities to the advatage of the citizens.

Stakeholders and groups, including traditional rulers, civil society organisations, the legislature and the judiciary who spoke at the case endorsed an upward review of revenue accruable to states and LGAs.

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