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REVENUE ALLOCATION FORMULAR TO FUNCTION INDEPENDENTLY

REVENUE ALLOCATION FORMULAR TO FUNCTION INDEPENDENTLY

Delta State Governor, Ifeanyi Okowa lamented that the country was still operating the1992 Revenue Allocation Formular, which is far from taking care of new trends, changing socio-economic and political dynamics faced by states and local Governments.

The Governor noted that the Revenue Allocation review was timely as it would guarantee sustainable development and good governance, stressing that the current revenue sharing formular where a large chunk of the funds was allocated to the Federal Government was unfair to other sub-national Governments in the country.

Okowa affirmed that with more funds, local and state Governments would be able to execute more developmental projects that would impact positively on the socio-economic lives of people at the grassroots.

Governor Okowa advised the Commission to ensure that the new Revenue Allocation formular reflects the collective wish of the people where all tiers of government would feel justly treated.

He urged the National Assembly to review the constitution to enable the Commission operate independently, emphasising that the ongoing review of revenue formular would effective when the Commission has the power to lay its proposal to the National Assembly rather than through the presidency.

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In his remarks, the Federal Commissioner representing Delta State in the Revenue Mobilisation Allocation and Fiscal Commission Mr.  Andrew Agbaga disclosed the last review of the revenue allocation formular was in 1992 since the establishment of the Commission in September, 1988. Mr. Agbaga said proposal for new Revenue Allocation Formular for the three tiers of Government was first made by the Commission in August, 2001.

Adding that the recommendation was withdrawn due to the compelling verdict of the judgement of the Supreme Court on Resource Control.

Earlier in his welcome address, the Commissioner for Finance, Chief Fidelis Tilijje opined that Delta was a peculiar state that needed more funds to attract more development to both riverine and upland areas of the state.

Stakeholders and representatives of all segments of the society at  the sensitisation programme which featured interactive session, made useful inputs towards having a equitable and unified  Nation

Urhobo Daily

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