BREAKING NEWS

Metro

World

Spiritual

15 Jul 2017

Revenue Sharing Formular Is Unfair, Gov Ambode Breaks Silnce

Lagos State Governor, Mr. Akinwunmi Ambode, has faulted the current revenue   sharing formula by which the Federal Government takes more than the state and the local governments.

Speaking at a joint working retreat of the Senate and House of  Representatives’ committees on the review of the 1999 Constitution held in Lagos on Friday, Ambode called for an urgent review of the constitution to enable other tiers of government to realise their potential and accelerate growth and development.

A statement by the governor’s Chief Press Secretary, Habib Aruna, disclosed that Ambode noted that the allocation formula was not helping the states and local governments.

Ambode said, “The current revenue allocation formula by which the Federal Government takes as much as 52.68 per cent of centrally collected revenues in the Federation Account, leaving the states and local governments with 26.72 per cent and 20.60 per cent respectively, has created a glaring and unacceptable imbalance in the financial resources of the three tiers of government.

“The sharing formula should be limited to federal and state governments. Since local governments are to come under the purview of the states, allocations to them should be shared to states as they can have as many local governments as they wish.”

Ambode also asked that special status should be granted to Lagos State in the proposed constitutional amendment, being the former Federal Capital Territory of Nigeria.

He also argued that the state deserved such a status as the economic and commercial nerve centre of the nation. The governor also said the state had had to deal with high population density and the continuous influx of people from other states.

In addition, Ambode said it was time for Section 214 (1) of the Nigerian Constitution to be amended to allow state police as according to him, the current arrangement is not effective.

Ambode also described the continuous operation of the Federal Land Registry in Lagos as an aberration which the current ongoing constitutional amendment process must address in line with the principle of fiscal federalism.

PLACE YOUR TEXT ADVERT BELOW:>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

How I Made Me =N=2.5 MILLION In 7 Days from 2 Common Product I Imported and how you can do the same. Click HERE FOR FREE Details right now

Warning To Men: This 3 Foods Is Killing Your Erection. Click Here To Know Them

REVEALED!! Reduce Your Blood Sugar Level And Reverse Diabetics Within A Short Period Of Time. Click Here To See How

Warning: Got Arthritis? 3 Simple Ways To Get Cured And Be Permanently Free From Joint Pains. Click Here To See Them

Secret Fruits that increased my Manhood and makes me last 55 minutes+ all time - Click here to get it

MIDNIGHT,Pressed Mr Kilanko Suddenly Couldn't Urinate. Shrink your Enlarged Prostrate Here! Click Here Now

Loading...

SHARE YOUR STORY WITH US VIA EMAIL: INFO@247NIGERIANEWSUPDATE.CO

RECEIVE NEWS VIA OUR WHATSAPP, KINDLY TEXT +234 701 056 0394 TO ADD YOU

CLICK HERE TO JOIN US ON OUR YOUTUBE CHANNEL FOR NEWS UPDATE

CLICK HERE TO JOIN US ON TWITTER FOR INSTANT NEWS UPDATE: @247NGNEWSUPDATE

CLICK HERE TO JOIN MILLIONS AROUND THE GLOBE TO READ NEWS ON OUR FACEBOOK FAN PAGE

FOR INSTANT UPDATES ON INSTAGRAM CLICK HERE

RECEIVE INSTANT NEWS UPDATE VIA OUR BBM BROADCAST: D3EDEFDF

Post a Comment

 
Copyright © 2015 247 Nigeria News Update
Website by Tech Guardian