It said the time for a review of the subsisting revenue sharing formula was long overdue. Stakeholders, representatives of the Revenue Mobilisation Allocation and Fiscal Commission , members of the state executive council, lawmakers and local council representatives all agreed for upward review of revenue allocation for the state.
Olowo reiterated that with the status of Lagos as the economic nerve centre of the country, the demand for a special status for Lagos State had been long overdue. On her part, Permanent Secretary, Ministry of Finance, Mrs. Ayoola Oyeyemi, said since its introduction over 32 years ago, stakeholders had never come under a forum for deliberation to review the revenue formula.She said that the state should bring up robust memoranda for onward submission towards the upcoming zonal public hearing. For the state’s Commissioner for Economic Planning and Budget, Mr.
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