State Governors are advocating for a review of the revenue sharing formula and asking for 42 percent of the revenue in the Federation Account while the FG receives 35 percent.
Ekiti State Governor and Chairman of the Nigeria Governor’s Forum (NGF), Dr. Kayode Fayemi, said this at a national dialogue and book presentation held in Abuja.
He said, “On revenue collection and sharing, the position of the Nigeria Governors’ Forum to which I subscribe is that the sharing formula should be reviewed in favour of the states, especially given the argument of devolved responsibilities to the sub-nationals.
“In the context of the proposed new federal structure, governors have argued for a formula along the lines of 42 percent to states, 35 percent to the Federal and 2.3 percent to local governments.”
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Fayemi said the nation’s federal system has not served the best interests of Nigerians because it is devoid of devolution of power, decentralisation and true federalism.
He asked, ”For how long can we continue to run away from this issue and continue to pretend that somehow it would resolve itself someday?
He said, “Caught in our politics of difference and otherness, devolution, decentralisation, restructuring and such other concepts have come to mean different things to different people, depending on the ethnic and regional toga they wear.”
Fayemi supported the suggestion by former Chairman of INEC, Professor Attahiru Jega, saying that “sooner than later, these matters have to be addressed squarely, but dispassionately.
He said the challenge is how to address restructuring without upsetting the apple-cart; that is, without unleashing instability occasioned by the mobilisation of ethnic, regional and religious sentiments and identities”.
He explained, “Our idea of restructuring must be motivated only by our generational responsibility to perfect our union and to build a nation where peace and justice shall reign based on an operative principle that true greatness lies in building a country that works for everyone, regardless of the language they speak, or how they understand and worship God.”
