THE Chairman of Northern Governors Forum (NGF) and Governor of Niger State Dr. Mi’azu Babangida Aliyu yesterday described the current revenue allocation formula as outdated.
The governor who was speaking while inaugurating the Nigeria Union of Teachers (NUT) Micro Finance Bank in Minna condemned the formula which, he said gave over half of the nation’s revenue to the Federal Government. He said the development was causing wastages and leakages at that level.
According to Aliyu, the Constitution stipulates that the revenue allocation formula should be reviewed every 10 years, but lamented that the current formula has been in effect without review for almost 20 years.
He said: “By Nigeria Constitution and law, the revenue formula should have been reviewed every 10 years but believe me, the one we have on the ground now is over 15 years and 20 years, we must do something to make sure that those entitled to certain things are given.
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Revenue allocation formula outdated, says, Aliyu