Confab c'ttee okays review of revenue allocation formula
Members of the National Conference Committee on Devolution of Power have unanimously agreed to jerk up monthly revenue allocation of both states and local governments to 57.5 per cent against current allocation of 47 per cent.
With the new arrangement, the Federal Government will get 42.5 per cent, states will get 35.0 percent, while local governments will receive 22.5 per cent.
The Chairman of the Committee and former governor of Akwa Ibom State, Obong Victor Attah, in an interview with journalists on Monday in Abuja after a closed-door meeting, said the committee members were unanimous during deliberations on the issue.
According to him, by the new arrangement, every part of the country will be able to develop its domain.
He said, 'The allocation to the Federal Government should be reduced to 42.5 per cent, while the states should receive 35.0% and the local governments should receive 22.5 per cent. In other words, if you add what is due to the states and what is due to the LGs, you will get a total of 57.5% as opposed to the 42.5 per cent of the Federal Government. That is the major decision.
'On resource control, we would also look at horizontal sharing formula. This decision was unanimous. We believe that with more confidence, we would reach unanimous decisions again, because we have provided for every part of this country to be developed. There are mineral resources and diversification, so that if you want to go into agriculture, there is something for you and everyone would have something from which to get a derivation payment.
'Once that is established, we are confident that we would reach an agreement on what that level of derivation ought to be.'
Another member of the committee, Mr. Jack Tilley-Gyado, from Benue State, also revealed that the committee members arrived at a consensus after a serious debate.
He said members agreed on the need to take money from the Federal Government and give to federating units where they are mostly needed.