The aim of the review was to produce a fair, just and equitable revenue sharing formula.
INVESTIGATION: Commissioned by Buhari, Nasarawa’s ₦15 billion airport joins Nigeria’s white elephant projectsSPECIAL REPORT: Poor infrastructure, long distance hinder schooling in Abuja communityWhen disorder is applauded and distress ignored: A mental health reckoning, By Margaret Uddin OjeahereYou be terrorist, I no be terrorist, By Festus AdedayoPT Health Watch: What you should know about Tuberculosis, why it...
“In line with this constitutional responsibility and in response to the evolving socio-economic, political and fiscal realities of our nation, the commission has resolved to initiate the process of reviewing the formula to reflect emerging socio-economic reality. He said that the responsibilities involved placing electricity, railways, and prisons on the concurrent list, which had placed financial and administrative burdens on sub-national governments.
“As well as Association of Local Government of Nigeria , the judiciary, MDAs, civil society organisations, traditional rulers, the organised private sector and development partners. “Hence, the need for a fresh review of the revenue allocation formula in its entirety to reflect the current socio-economic challenges in the country, as well as the new economic policies of the current administration.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Reps panel approves RMAFC’s N105bn budget proposalThe lawmakers assured that they would provide close oversight on the budget's implementation.
Read more »
RMAFC got N22.8bn allocation from FAAC in three months — four times its 2025 budgetThe Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) received a total of N22.8 billion in allocations from the federation account allocation committee (FAAC) between April and June 2025.
Read more »
Akwa Ibom PDP chieftains begin regrouping after Gov Eno’s exit, begin prepartions for 2027A Trusted Nigerian Newspaper
Read more »
Reps begin probe of CNG policy implementationThe lawmakers said that the success of CNG is threatened by a lack of transparency, inconsistent access, and questions around sustainability.
Read more »
Nigerian firm to begin construction of military equipment plantVinicius International is set to commence construction of a security hardware production plant in Nigeria, with the aim of reducing Africa's reliance on imported defence equipment.
Read more »
Kaduna to begin monkeypox vaccination in affected LGAsHe noted that several LGAs in the state had recorded a significant number of monkeypox cases
Read more »