Governors To Meet Buhari On New Revenue Formula

Governors of the 36 States of the Federation have decided to meet President Muhammadu Buhari over the new revenue formula.

Naija News reports that the Chairman of the Nigeria Governors Forum and Governor of Sokoto State, Aminu Tambuwal has said the meeting was for the outgoing governors to plead with the president to present the new draft formula to the National Assembly before May 29, 2023, when a new government will take over the reins of power.

Tambuwal disclosed this development late Wednesday night at a meeting of the 36 Governors under the aegis of the Nigeria Governors Forum (NGF) in Abuja.

Speaking with pressmen at the end of the meeting that lasted about three hours,  Tambuwal said, “It was a normal meeting of governors where we discussed issues concerning the country, the sub-nationals and of course, democracy and good governance.

“We discussed the new revenue formula submitted to Mr President by the Revenue Mobilization Allocation and Fiscal Commission and the need for us to approach Mr President for him to present the new draft formula to the National Assembly before this administration winds up.

“We are going to meet with Mr President as a forum and we’ll appeal to him to present that formula to the National Assembly. We will see!”

Tambuwal, the governors also discussed the guidelines on financial regulations set by the Nigerian Financial Intelligence Unit, primary healthcare, and stamp duties, among others.

He added that “The current revenue-sharing arrangement, the Federal Government takes home 52.68% leaving the State and Local Governments with 26.72 % and 20.60% respectively.

“We discussed the guidelines by the NFIU on financial regulation that is working on how to ensure that Nigeria is taken out of the grey list of the Financial Task Force.

“We discussed the issue of primary healthcare and the progress made so far during our induction course. Some states that have attained some milestones are going to receive awards for their performance.

“We also discussed the issue of stamp duties being owed to both the Federal and the State Governments and warehoused by the Central Bank and we are working to make sure that it is released for disbursement to both the Federal Government and the states.”

It would be recalled that in April 2022, the RMAFC presented a report on the review of the vertical allocation formula to President Buhari for necessary action.

The report proposed a revenue-sharing formula of 45.17% to the Federal Government, 29.79% to States and 21.04 per cent to Local Governments. (https://sofy.tv/)

the current revenue-sharing arrangement, the Federal Government takes home 52.68%, leaving the State and Local Governments with 26.72 % and 20.60% respectively.

In attendance at the meeting was Governor Nasir El-Rufai of Kaduna State, accompanied by the Kaduna State Governor-elect, Senator Uba Sani: Governors Godwin Obaseki (Edo), Babagana Zulum (Borno), Abubakar Badaru (Jigawa), Atiku Bagudu (Kebbi), Yahaya Bello (Kogi) and Duoye Diri of Bayelsa State.

Others include Seyi Makinde, Simon Lalong, Aminu Masari, Dapo Abiodun, Hope Uzodinma and Babajide Sanwo-Olu of Oyo, Plateau, Katsina, Ogun, Imo and Lagos States respectively, among others.