Friday, February 23, 2024
More

    Latest Posts

    Tinubu appoints Nandap as new Immigration CG

    President Bola Tinubu has approved the appointment of DCG Kemi Nanna Nandap to serve as the Comptroller-General of the Nigeria Immigration Service. Nandap’s appointment would...

    Akeredolu’ll be remembered for strengthening judiciary – Aiyedatiwa

    Ondo State Governor, Lucky Aiyedatiwa, has eulogised the late former governor of the state, Mr Rotimi Akeredolu, saying the late Akeredolu would be remembered...

    Labour Party chairman Abure arrested in Edo

    The National Chairman of the Labour Party, Mr Julius Abure, has been arrested by security operatives in Edo State. Abure was arrested on Wednesday, a...

    Tony Tetuila wants to feature Burna Boy on the remix of his 2001 hit single

    In 2001, Tony Tetuila released the smash hit single 'My Car' which was a comical commentary on the social economic state of the country. 'My...

    Special status: Lagos demands one per cent of Nigeria’s revenue as South-West states meet

    Lagos State Governor, Mr Babajide Sanwo-Olu on Monday demanded one per cent share in the revenue allocation formula after stating that the special status of the state and its prosperity directly or indirectly has multiplying effects on the South-West region and the entire country.

    He also proposed that the revenue sharing formula should be 34 per cent for Federal Government including one per cent for FCT – Abuja, 42 per cent for State Governments, 23 per cent for Local Governments and one per cent for Lagos State (special status) as against the current revenue allocation formula, which were 52.68 per cent, 26.72 per cent and 20.60 per cent for Federal Government, 36 state governments and 774 local governments respectively.

    He spoke during the opening event of a two-day South-West zonal public hearing on review of revenue allocation formula by the Revenue Mobilisation Allocation and Fiscal Commission, in Lagos State on Monday.

    The participating states at the event were Lagos, Ogun, Osun, Oyo, Ondo and Ekiti States.

    He said, “I should say that it will actually be unfair to expect the state to bear this heavy burden on its own. It is therefore necessary to give due consideration to all the variables that support our advocacy for a special status.

    “The call for a special status for Lagos is not a selfish proposition; it is in the best interest of the country and all Nigerians, for Lagos which accounts for about 20 per cent of the national Gross Domestic Product and about 10 per cent of the nation’s population to continue to prosper.”

    The Chairman, RMAFC, Elias Mbam, said it would consult with the six zones in the country on how to review revenue allocation formula.

    He said the zonal public hearing would also be replicated in the other five geopolitical zones.

    Copyright PUNCH.

    Latest Posts

    Tinubu appoints Nandap as new Immigration CG

    President Bola Tinubu has approved the appointment of DCG Kemi Nanna Nandap to serve as the Comptroller-General of the Nigeria Immigration Service. Nandap’s appointment would...

    Akeredolu’ll be remembered for strengthening judiciary – Aiyedatiwa

    Ondo State Governor, Lucky Aiyedatiwa, has eulogised the late former governor of the state, Mr Rotimi Akeredolu, saying the late Akeredolu would be remembered...

    Labour Party chairman Abure arrested in Edo

    The National Chairman of the Labour Party, Mr Julius Abure, has been arrested by security operatives in Edo State. Abure was arrested on Wednesday, a...

    Tony Tetuila wants to feature Burna Boy on the remix of his 2001 hit single

    In 2001, Tony Tetuila released the smash hit single 'My Car' which was a comical commentary on the social economic state of the country. 'My...

    Don't Miss

    AFCON: You showed great resilient, Tinubu hails Eagles

    President Bola Tinubu has praised the Super Eagles for their display in the 2023 Africa Cup of Nations final in Ivory Coast. Despite their loss...

    Tinubu, CBN, Access Holdings pay tributes

    President Bola Tinubu, Central Bank of Nigeria (CBN)’ governors and Board of Directors of Access Holdings Plc have mourned the death of Wigwe in...

    Discos overbilled 7.1million customers in nine months – FG

    Power distribution companies overbilled about 7.1 million unmetered electricity consumers between January and September 2023, an analysis of the latest monthly number of overbilled...

    Eagles express disappointment after AFCON defeat

    The Nigeria Super Eagles have expressed disappointment over their defeat at the 2023 CAF African Cup of Nations final. The Elephants of Côte d’Ivoire, on...

    A disappointing end, goalkeeper Stanley Nwabali laments AFCON defeat

    Nigeria’s goalkeeper, Stanley Nwabali, has lamented the Super Eagles’ 2-1 defeat in the hands of Cote d’Ivoire in the final of the 2024 Africa...

    Stay in touch

    To be updated with all the latest news, offers and special announcements.