Lagos seeks review of revenue sharing formula - Punch Newspapers

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The Lagos State Government has called for a review of the revenue allocation formula, saying the one currently operating in the country is unrealistic.

The Commissioner for Finance, Dr Rabiu Olowo, stated this on Tuesday at a sensitisation workshop on 2021 Revenue Allocation Formula Review held in Agidingbi, Ikeja. Olowo gave his address at the stakeholders’ workshop organised by the Ministry of Finance with representatives of the Revenue Mobilisation Allocation and Fiscal Commission, members of the State Executive Council, lawmakers, permanent secretaries and local government chairmen, among others.

He said, “The current revenue allocation formula is far from being realistic as the country has evolved over the years. The number of states has increased from 30 to 36; the number of local government increased from 589 to 774 LGAs and in particular, in Lagos State, we have added 37 Local Community Development Areas to bring the government closer to the people.”

Olowo added that RMFAC had been unable to review the allocation in the last 29 years due to poor execution.

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The guy finally saw a topic that can unite Lagos after the order to kill lekki protesters.

Which formula when you are pushing laws to collect your own VAT? Is somebody under attack?

Good move

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