Zainab Ahmed, Minister of Finance
The Revenue Mobilization Allocation and Fiscal Commission (RMAFC) will on Monday commence the process of reviewing the current revenue allocation formula for governments in the country with a two-day public hearing in Lagos.
The South-West public hearing will kick off the nationwide consultations expected to lead to a new revenue sharing formula for the country.
The states expected to participate are Lagos, Ekiti, Oyo, Ogun, Ondo and Osun.
A schedule of the public hearings released by RMAFC shows that the South-South zone edition will hold in Rivers State between Thursday, October 7 to Friday, October 8 with participants expected from Rivers, Akwa Ibom, Bayelsa, Cross River, Delta and Edo states.
Under the current sharing arrangement, the Federal Government takes 52.68 percent of the revenue shared, states get 26.72 percent while the Local Governments get 20.60 percent.
The current review will focus only on the vertical allocation which covers allocation to the Federal, States and Local Governments and does not imply a reduction in the cost of governance.
RMAFC said the review is in pursuant of the constitutional mandate that empowers it to “review from time to time, the revenue allocation formula and principles in operation to ensure conformity with changing realities.”
For the South-East which holds in Imo State from 11-12 of October, participants are expected from Abia, Anambra, Ebonyi, Enugu and Imo states.
In the North West, Kaduna State will host the public hearing with participants expected also from Jigawa, Kano, Katsina, Sokoto, and Zamfara states.
Kogi State will be the host for the North Central between October 19 and 20 with participants from Benue, Kwara, Nasarawa, Niger and Plateau states.
In the North East, the public hearing will hold in Gombe State between October 21 and 22. Participants are expected from Adamawa, Bauchi, Borno, Taraba, and Yobe states.
In the Federal Capital Territory, the public hearing will hold between October 25 and 26, 2021.
Participants at the zonal public hearings are expected to be drawn from States Executives, legislatures, judiciary, local government officials, civil society groups, organized labour, elder statemen, traditional rulers and the general public.
The commission urged all stakeholders to participate effectively in the process and to submit five hard copies of their memoranda as well as a soft copy of the proposed review to its office in Abuja or during the hearings across the zones.
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
We Have Not Had Water Supply In Months ― Abeokuta Residents
In spite of the huge investment in the water sector by the government and international organisations, water scarcity has grown to become a perennial nightmare for residents of Abeokuta, the Ogun State capital. This report x-rays the lives and experiences of residents in getting clean, potable and affordable water amidst the surge of COVID-19 cases in the state.
Selfies, video calls and Chinese documentaries: The things you’ll meet onboard Lagos-Ibadan train
The Lagos-Ibadan railway was inaugurated recently for a full paid operation by the Nigerian Railway Corporation after about a year of free test-run. Our reporter joined the train to and fro Lagos from Ibadan and tells his experience in this report…
The United Arab Emirates (UAE) and the United States have introduced new visa restrictions policies…
"We know how to incur debt but not how to manage it, so we need…
Clinical lecturers at Ladoke Akintola University of Technology (LAUTECH) have issued a 21-day ultimatum to...
“Currently, there’s a huge outstanding debt to the Power Generation companies in the form of…
"ABU became the overall winner having emerged as the..."
According to the statement, the take-off dates would avail the state governmet sufficient time to…
This website uses cookies.