Anambra State Governor, Chief Willie Obiano has advocated a revenue-sharing formula of 50, 30, and 20 per cents for state, local, and federal governments, respectively.
He made the request while declaring an open, sensitisation exercise for a new revenue allocation formula for the country, held in Awka, on Wednesday, 22nd September 2021.
Governor Obiano, represented by his Deputy, Dr Nkem Okeke, opined that states should get the lion’s share of allocations because they shoulder the highest responsibilities among the three tiers of government.
According to him, issues of security, health care, education and infrastructure in states require enormous resources and funding.
He pointed out that the existing revenue formula of twenty-six per cent collectable by states is grossly inadequate.
In his address, the Federal Commissioner, in the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Mr Chima Okafor, informed that the team was given a specific constitutional mandate to review, from time to time, the revenue allocation formula and principles in operation.
Mr Okafor disclosed that It was in compliance with the constitutional provision and in view of the changing socio-economic and political dynamics of the nation, that prompted the commission to commence full-scale engagement of representatives of various stakeholders and the people nationwide in the process of fashioning a new revenue sharing formula for the country.
According to him, inputs from the people at the interactive exercise would provide pathways for creating a workable template to assist the commission in its task of evolving and bequeathing to the nation, a fair, just and equitable new revenue sharing formula, acceptable to all.
Stakeholders and groups, including traditional rulers, civil society organisations, the legislators and the judiciary who spoke at the event endorsed an upward review of revenue due to states and local governments.
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