Monday, August 8, 2022
More

    Latest Posts

    Kidnappers said Nollywood not supporting Nnamdi Kanu – Okereke

    Freed Nollywood actress, Cynthia Okereke, has revealed what her abductors told while she was in captivity. In an interview with Sunday Scoop, Okereke said the...

    BBNaija 7: He has sucked my breast, fingered me – Beauty says as she drags Groovy

    Nearly a hour after the Saturday night party, Beauty has kept her fellow level two housemates up over another dramatic situation with her love...

    ‘When will you congratulate my uncle over victory?’ – Davido asks outgoing governor Gboyega Oyetola

    Nigerian singer David Adeleke popularly known as Davido has wondered when the outgoing governor of Osun, Gboyega Oyetola, will congratulate his uncle and governor-elect,...

    PDP summons NEC meeting, George seeks Ayu’s removal

    The South-West arm of the Peoples Democratic Party has joined the push for the resignation of the National Chairman of the PDP, Iyorchia Ayu. Notable...

    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

    Kidnappers said Nollywood not supporting Nnamdi Kanu – Okereke

    Freed Nollywood actress, Cynthia Okereke, has revealed what her abductors told while she was in captivity. In an interview with Sunday Scoop, Okereke said the...

    BBNaija 7: He has sucked my breast, fingered me – Beauty says as she drags Groovy

    Nearly a hour after the Saturday night party, Beauty has kept her fellow level two housemates up over another dramatic situation with her love...

    ‘When will you congratulate my uncle over victory?’ – Davido asks outgoing governor Gboyega Oyetola

    Nigerian singer David Adeleke popularly known as Davido has wondered when the outgoing governor of Osun, Gboyega Oyetola, will congratulate his uncle and governor-elect,...

    PDP summons NEC meeting, George seeks Ayu’s removal

    The South-West arm of the Peoples Democratic Party has joined the push for the resignation of the National Chairman of the PDP, Iyorchia Ayu. Notable...

    Don't Miss

    Tems earns 2022 MTV VMAs nomination

    The single is one of the songs on Future's 9th solo studio album 'I Never Liked You' and it features Drake and also samples...

    Senators seek Buhari’s sacking, walk out on Lawan

    Some senators walked out on the Senate President, Ahmad Lawan, on Wednesday, after he allegedly refused the Minority Leader, Senator Philip Aduda, to allow...

    Burna Boy, Pheelz, Tems appear on Barack Obama’s 2022 Summer Playlist

    Barack Obama Summer Playlists: Every year since 2015, former United States President Barack Obama has been releasing an annual summer playlist that features the...

    Senate to invite Emefiele over naira devaluation

    The Senate, on Wednesday, said it would summon the governor of the Central Bank of Nigeria, Godwin Emefiele, over inflation and naira devaluation which...

    Headies withdraws Portable’s nominations due to police investigation

    The Headies Academy's decision was necessitated by Portable's recent running afoul of the law as he claimed that he was the founder of the...

    Stay in touch

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