Revenue Sharing: Governors Urge Buhari To Reveal New Formula To National Assembly.
The Nigeria Governors Forum is set to meet with President Muhammadu Buhari to request that he presents the new revenue formula to the National Assembly before the end of his administration.
Aminu Tambuwal, the Chairman of the NGF and the Governor of Sokoto State, disclosed this to journalists after a meeting of the forum in Abuja. Last year, the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) presented the report on the review of the vertical revenue allocation formula to President Buhari.
However, more than a year after, the President has not presented the report to the National Assembly. The new formula proposes 45.17% for the Federal Government, 29.79% for States, and 21.04% for LGAs.
Revenue Sharing: Governors Urge Buhari To Reveal New Formula To National Assembly
In addition to discussing the new revenue formula, the governors also discussed a range of other topics, including financial regulation and primary healthcare. They called for Nigeria to be taken off the grey list of the Financial Task Force, with the Nigeria Financial Intelligence Unit’s guidelines on financial regulation being a key topic. The governors also discussed progress made in primary healthcare, with some states set to receive awards for their achievements. They also talked about the issue of stamp duties owed to both the Federal and State Governments and are working to ensure that these are released for disbursement.
Tambuwal stated that the Nigerian Governors Forum has achieved a lot in terms of maintaining unity and non-partisanship, with a focus on Nigeria first and their individual states as second. The forum plans to appeal to President Buhari to present the new revenue formula to the National Assembly before the end of his administration. It is hoped that the President will present the new sharing formula prior to the lapse of his tenure in office.
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