Governors Press Buhari to Submit Updated Revenue Formula to NASS

Afaf Fahchouch
Afaf Fahchouch
2 Min Read
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The Nigeria Governors Forum has resolved to meet with President Muhammadu Buhari to discuss the new revenue draft presented to him by the Revenue Mobilization Allocation and Fiscal Commission in 2022. The meeting is to persuade the President to present the new draft formula to the National Assembly before May 29, 2023, before a new government takes over.

At the meeting, the Chairman of the National Assembly Service Commission, Mr. Ahmed Amshi, was in attendance, and the discussion lasted over three hours. Governor Aminu Tambuwal, the Chairman of the Nigeria Governors Forum, disclosed this after the meeting.

During a recent meeting of the Nigerian Governors’ Forum, Governor Tambuwal revealed that the current revenue-sharing arrangement, which sees the Federal Government receiving 52.68% of revenue and the State and Local Governments receiving 26.72% and 20.60% respectively, was a hot topic of discussion. The Forum has expressed its intention to call upon President Buhari to present a new draft formula to the National Assembly before his tenure comes to an end. This proposed move seeks to address the imbalance in the distribution of revenue and empower the State and Local Governments to better serve their constituents.

In addition to the new revenue formula, the governors also discussed guidelines on financial regulations set by the Nigerian Financial Intelligence Unit, primary healthcare, and stamp duties. The governors agreed to work with the NFIU to ensure that Nigeria is taken off the grey list of the Financial Task Force.

Afaf Al Fahchouch

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