Ogun State Governor, Dapo Abiodun has canvassed for an upward review of the state’s revenue allocation sharing formula.
Gatekeepers News reports that the Governor of Ogun State, South West Nigeria, 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 canvassed the position while speaking at the South-West Zonal Public Hearing on Review of Revenue Mobilisation Allocation and Fiscal Commission in Lagos.
Dignitaries at the event include governor’s of all the South-West States, represented by their Commissioners for Finance.
Abiodun was represented by his Commissioner for Finance and Chief Economic Adviser, Dapo Okubadejo.
He further called for a review of the Social Development Factor of the allocation formula in line with modern-day realities in areas of education, health and population, saying, “population density should replace population and landmass as an independent factor in revenue allocation.”
Abiodun said, “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.”
The Lagos State Governor, Mr Babajide Sanwo-Olu, while declaring the forum opened called on the Federal government of Nigeria to accord the state a special status, because of its pivotal role in the development of Nigeria as a whole.
Sanwo-Olu added that for the country to attain greater economic prosperity, there is a need for a just, equitable, and very straightforward revenue sharing formula.
