By Favour Goodness
Gov. Willie Obiano of Anambra state, has proposed a revenue sharing formula of 50, 30, and 20 per cent for state, local and federal governments, respectively.
The governor said this while declaring open the sensitisation exercise for a new revenue allocation formula for the country held in Awka.
Represented by his deputy, Dr Nkem Okeke, the governor said, โIssues of security, health-care, education and of infrastructure in the states require enormous resources and funding.
โThe existing revenue formula of 26 per cent collectable by states is grossly inadequate.โ
A Federal Commissioner in the Revenue Mobilisation Allocation and Fiscal Commission, Chima Okafor, said the team was given a specific constitutional mandate to review from time to time the revenue allocation formula and principles in operation to ensure conformity with changing realities.
