DAMATURU, (YOBE STATE) — The Revenue Mobilisation and Fiscal Allocation Commission (RMFAC) says it is committed to reviewing the country’s revenue sharing formula.
The commissioner for RMFAC, Modu Aji, disclosed this during an interactive session with officials of Yobe state government, in Damaturu, the state capital, on Friday.
The commission had begun the review of the revenue allocation formula in June.
The commissioner noted that RMFAC is mandated to interact with the state’s stakeholders to develop a platform that would be used in advising President Muhammadu Buhari.
“The current revenue allocation formula stands at 52.68 percent for the Federal Government, that is including a special fund for the FCT; Ecological, Stabilisation and Natural Resources Development Funds,” he said.
“You then have 26.72 per cent for the states and 20.6 per cent for Local Government Areas.
“This is the vertical arrangement at the moment and it has been the arrangement since 1992.
“Several attempts made to review the formula were unsuccessful due to change of governments, absence of the National Assembly, among others.”
In his remarks, Baba Wali, the secretary to the state government (SSG), commended the federal government for its commitment and determination to conduct the review.
Wali said that the current allocation formula favours the federal government, adding that there should be an increase in the statutory allocations to both the state and LGAs to enable them to fulfill campaign promises.
- Breaking: Ohanaeze President General, George Obiozor, confirmed dead - December 28, 2022
- US to support NDLEA on improved intelligence gathering capacity - December 27, 2022
- Why diversified HIV/AIDS prevention tools matter for women - December 26, 2022
