Governors of the 36 states in Nigeria want President Muhammadu Buhari to present the new revenue formula to the 9th National Assembly for passage into law before the end of his administration.
Chairman of the Nigeria Governors’ Forum (NGF), Gov. Aminu Tambuwal of Sokoto State, who stated this after the forum’s meeting in Abuja, said the governors were planning to meet the president to fasttrack action on the new formula.
Recall that last year; the Revenue Mobilization Allocation and Fiscal Commission presented a reviewed allocation formula to the President which recommended 45.17 per cent to the Federal Government, 29.79 per cent to States and 21.04 per cent to Local Governments.
In the current revenue-sharing arrangement, the Federal Government takes home 52.68 per cent, leaving the State and Local Governments with 26.72 per cent and 20.60 per cent.
Tambuwal said the governors discussed other issues that bordered on national, sub-national, democracy and good governance, including the need for timely release of the collected stamp duties warehoused in the Central Bank of Nigeria (CBN) for disbursement.
