[From CHINEDU NWAFOR, Abakaliki]
Anambra State Governor, Chief Willie Obiano, has proposed a new revenue sharing formula for the country.
Governor Obiano who was represented by his deputy, Dr. Nkem Okeke made the state’s position known on Wednesday while declaring open the sensitisation exercise for a new revenue allocation formular for the country in Awka.
Obiano proposed 50 percent for States, 30 per cent for local governments and 20 percent for the Federal Government as new allocation sharing formula.
The Governor said his reason for making the new proposal was because States shoulder the highest responsibility among the three- tier of government in the country.
Earlier in his opening remarks, the team leader and Federal Commissioner, Revenue Mobilisation Allocation and Fiscal Commission, Hon. Chima P. Okafor said the Commission had the constitutional mandate “to review from time to time the Revenue Allocation Formula and Principles in Operation to ensure conformity with changing realities, provided that the Revenue Formula which had been accepted by an act of the National Assembly shall remain in force for a period of not less than Five years from the date of commencement of the Act”.
According to Okafor, it is in compliance of that constitutional provision and in view of the changing socio-economic and political dynamics of the nation that prompted the commission to commence full scale engagement of representatives of various stakeholders and the people nationwide in the process of fashioning a new revenue sharing formula for the country.
He said the inputs from the people at the interactive exercise would provide pathways for creating a workable template to assist the commission in its task of evolving and bequeathing to the nation a fair, just and equitable new revenue sharing formula.