Abiodun Canvasses Upward Review Of State’s Revenue Allocation Sharing Formula
The Ogun State Governor, Dapo Abiodun, has canvassed for an upward review of the state’s revenue allocation sharing formula from 26.7 per cent to 45 per cent to allow more developments in the states.
Abiodun, who was represented by his Commissioner for Finance and Chief Economic Adviser, Dapo Okubadejo, canvassed the position in Lagos while speaking at the South-West Zonal Public Hearing on Review of Revenue Mobilisation Allocation and Fiscal Commission.
The statement read in part, “The allocation is forestalling the development of states and local governments. The Exclusive List should be amended to allow each tier of government to concentrate on areas that will better touch the lives of the people.
“Given that the State and Local government are closer to the citizenry and can meet their needs more accurately, it is imperative to consider an increase in the allocation to the States and Local governments.
“In addition to the above, revenue allocation should be reviewed and each tier of government should be funded according to the functions they perform. This is to enable that States can carry out expenditure functions within their scope and jurisdiction thus improve the economic growth of the states and nation in general”, Abiodun said.
The State Government further called for a review of the Social Development Factor of the allocation formula in line1 with modern-day realities areas of education, health and population, saying, “population density should replace population and landmass as an independent factor in revenue allocation”
Declaring the forum opened, Lagos State Governor, Mr Babajide Sanwo-Olu, called on the Federal government to accord the state a special status, because of its pivotal role in the development of Nigeria as a whole.
The Governor added that for the country to attain greater economic prosperity, there is a need for a just, equitable, and very straightforward revenue sharing formula.
Dignitaries at the event include Governor’s of all the South-West States, represented by their Commissioners for Finance.
Others were the Speaker, Ogun State, House of Assembly, Rt. Hon. Olakunle Oluomo; Commissioner for Local Government and Chieftaincy Affairs, Hon. Afolabi Afuape; Senior Special Assistant to the Governor on Revenue Assurance, Mr Seyi Ogunseye; Permanent Secretary, Ministry of Finance, Alh. Hassan Adekunle; and his Local Government and Chieftaincy Affairs counterpart, Mr Kolawole Fagbohun, among others.