Says States deserve 42 percent.

Lagos Governor, Babajide Sanwo-Olu has called for a review that will allow states to get 42 per cent of revenue in the Federation Account.

The governor spoke on Monday at the South-West Zonal public hearing on Review of Allocation formula by the Revenue Mobilization Allocation and Fiscal Commission (RMAFC).

In the current sharing formula, the Federal Government takes 52.68 per cent, states 26.72 per cent, local governments 20.60 per cent and 13 per cent derivation for oil producing states.

Sanwo-Olu noted that the formula which became operational about 29 years ago was long overdue for amendment.

The governor said the Nigerian fiscal federalism should be adjusted to develop more expenditure responsibilities with appropriate revenue allocation to States and LGs.

“The Lagos State Government proposed revenue allocation formula: Federal government: 34 per cent, State government 42 per cent, local government councils: 23 per cent and Lagos State (Special Status, 1 per cent).”

Sanwo-Olu said the solution will diversify and strengthen the fiscal base of the state government.

The Lagos helmsman stressed the need to reverse the age-long fiscal dominance by the federal government in order to re-establish a true federal system.
https://dailypost.ng/2021/10/04/federation-allocation-fg-should-stop-getting-lions-share-states-deserve-42-percent-sanwo-olu/

No lies spotted at all....very good content.

#SaynotoQoutasystem of Government.

Good one Mr Governor, the states and local government definitely deserves more.

Where your reasoning dey before now

So far, Sanwolu has not behaved like a psychiatric patient o!

Maybe they lied.

From Amotekun to Open Grazing Ban to VAT, Sanwo Eko has demonstrated uncommon firmness without apologies to any sensibilities.

Ride on His Excellency!

This make sense.

However this still will be exploited by the Nothern states because they will still do the allocation based on the inflated population figures.

The unproductive states will now be getting almost double of what they initially earn currently and that will even make them more unproductive and allow the governors to loot everything dry. When people don’t work for what they get, they tend to spend anyhow without thinking.

However on the merit side, it will allow sensible altruistic governors to carry out more developmental project in their states and allow them to take over some projects from the FG to bring governance closer to the people.

At least doing that will mean we are progressing bit by bit, we will eventually get it right someday.

Burdens go with benefit. FGN is responsible for 80% of national growth and development. Lagos state only has to bother about Lagos state, that's all.

bolanto24:
Good one Mr Governor, the states and local government definitely deserves more.

More to do what
What did your state do for u?

The south should take it easy.. all this economic withdrawals against the North is bad

We are one Nigeria


Peace and unity