Governors To Meet Buhari On New Revenue Sharing Formula

The state governors have resolved to meet President Muhammadu Buhari over the new revenue sharing formula proposed by the Revenue Mobilization and Fiscal Commission (RMAFC)

The commission submitted its proposal to Buhari last year, jerking up a bit, the revenue allocation to the states and local governments from the federation account.

The governors at their meeting held in Abuja on Wednesday decided to meet Buhari on the proposal.

Chairman of the Nigeria Governors Forum, Aminu Tambuwal, in a communique issued at the end of the meeting, said they had asked Buhari to forward a draft bill on the proposal to the National Assembly, whose tenure is scheduled to end on May 29.

The forum, according to him, also discussed the revenue from the stamp duty which is being withheld by the Central Bank of Nigeria (CBN).

The forum had reached an out of court settlement with federal government for the disbursement of the revenue.

“We discussed the new revenue formula submitted to Mr President by the Revenue Mobilisation and Fiscal Commission and the need for us to approach Mr President on the need for him to present the new draft formula to the national assembly before this administration winds up,” Tambuwal said.

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“We also discussed the issue of stamp duties that have been held, both the federal government and the states that are warehoused in the Central Bank of Nigeria.

“We are working to make sure that it is released for disbursements to both the federal government and state.

“We are going to meet Mr President as the leader of the forum and we will appeal to him to present that draft revenue formula. By the time it is presented, you will see what is there.”

The Sokoto governor said the NGF has worked in a bipartisan approach for the benefit of the citizens.

“The NGF is actually doing well in terms of bringing governors together, working together for national interest, for the interests of the states,” he said.

Tambuwal added that there has been unity among the governors on national issues.