Rivers State Governor Nyesom Wike has advocated a new revenue sharing formula that will increase the percentage Nigerian states get from the federal government.
At present, the federal government takes 52.68 percent, the states 26.72 percent and the local governments, 20.60 percent with 13 percent derivation revenue going to the oil producing states.
Wike made the suggestion yesterday when he received a delegation of the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) on a courtesy visit at Government House, Port Harcourt.
He pointed out that the states bear more development burden and would require more money to cater to the people.
“There cannot be a federal government without the states. So we advocate a new revenue formula that should take more revenue out of the federal government and given to the states.
“This is because the burden is more on the states than the federal government. So the states should have more revenue to cater for the people,” he said.
By Ernest Chinwo
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