- The Lagos State government has called for a new revenue sharing formula while advocating a special status grant
- Governor Babajide Sanwo-Olu on Monday October 4th asked for one percent of the share of the formula for the distribution of revenue for the country
- The Governor of the Southwest insists that the time be for a review of the existing ones Income distribution formula was long overdue
Lagos – A report from The Punch indicates that Governor Babajide Sanwo-Olu of Lagos State a percentage of the country’s revenue distribution formula.
Sanwo-Olu filed the motion on Monday, October 4th, during a two-day public hearing in southwestern California Region for checking the revenue distribution formula in the state of Lagos.
Curr Ending the search for a special status for the state of Lagos, the governor claimed that the unique characteristics of the state and its prosperity on development development in the southwest, added the Nigerian Tribune.
He suggested that the revenue sharing formula should be 34% for the federal government, including 1% for FCT-Abuja and 42% for state governments, 23% for local government and 1% for Lagos (special status) compared to the current one Formula for the distribution of income.
“The call for a special status for Lagos is not a selfish suggestion; It is in the best interests of the country and all Nigerians that Lagos, which accounts for about 20 percent of the national gross domestic product and about 10 percent of the country’s population, continues to thrive. ”
Okowa wants NASS to have true federalism
The governor called on Monday the 20th government building, Asaba.
He stated that an independent RMAFC had theirs Functions independently, including submitting their proposals directly to the National Assembly for approval.
6 states that can safely survive without federal grants
Meanwhile, the Annual State Viability Index (ASVI) published by Economic Confidential shows some Nigerian states that can survive without the monthly federal grants.
The ASVI measured the viability index of states by using the intern ge Each state’s IGR is used as a percentage of its federal allocation for the year.
States with an IGR of less than 10% of their total federal income are considered insolvent.
These are Lagos, Rivers, Ogun, Kaduna, Oyo and Anambra states.