The Federal Government has restated commitment to the review of the extant vertical revenue allocation formula to the three tiers of government in the country.
Alhaji Modu Aji, Commissioner, Revenue Mobilisation and Fiscal Allocation Commission (RMFAC), stated this at an interactive session with officials of Yobe State Government, on Friday in Damaturu.
Aji, who is representing Yobe at the Commission, said he was mandated to interact with the state’s stakeholders in order to develop a platform that would be used in advising President Muhammadu Buhari.
He said: “The current revenue allocation formula stands at 52.68 per cent for the Federal Government, that is including a special fund for the FCT; Ecological, Stabiliation and Natural Resources Development Funds.
“You then have 26.72 per cent for the states and 20.6 per cent for Local Government Areas.
“This is the vertical arrangement at the moment and it has been the…
Source: Guardian Newspaper