*Pledges New Revenue Sharing Formula
The Revenue Mobilization Allocation and Fiscal Commission, RMAFC, has called on Nigerians to turn out in large numbers for the zonal public hearings put in place to fassion out a new revenue sharing formula for the country.
The Commission made the call in a statement released in Abuja at the weekend in which it explained that the review process will commence on Monday, October 3, with a two-day public event in Lagos. Ekiti, Oyo, Ogun, Ondo and Osun will join host Lagos to make up the South West zonal hearing.
The Lagos event will be followed by that of the South-South zone, billed for between October 7 and 8 in Port Harcourt, the Rivers state capital. Akwa Ibom, Bayelsa, Cross River, Delta and Edo states will team up with host, Rivers state in attendance.
The South East version will follow in Owerri, the Imo state capital, where Anambra, Ebonyi, Enugu and Imo states are expected to be in attendance between October 11 and 12.
This will be followed by the North West zone public hearing scheduled for Kaduna with Jigawa, Kano, Katsina, Sokoto, and Zamfara states will be on hand.
Kogi state will play host to states from the North Central where states from the zone, including Benue, Kwara, Nasarawa, Niger and Plateau states will be of the zone’s public hearing billed for between October 19 and 20.
Public hearing in the North East, will hold in Gombe State between October 21 and 22 with participants drawn from Adamawa, Bauchi, Borno, Taraba, and Yobe states.
The Federal Capital Territory,FCT, version will hold between October 25 and 26.
The different zones are expected to deliberate on relevance of the old revenue sharing formula, which has the federal government taking 52.68%, states 26.72% while the council areas get 20.60%. In the main, the public hearings will be focused only on the vertical allocation covering allocation to the Federal, States and Local Governments, which does not imply reduction in the cost of governance.
According to the RMAFC, the review is part of its constitutional mandate to “review from time to time, the revenue allocation formula and principles in operation with a view to ensuring conformity with changing realities. It 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.