Mimiko Tasks Buhari on Review of Revenue Allocation Formula

Ondo State Governor, Dr Olusegun Mimiko on Monday charged President Mohammadu Buhari to summon the political will and present to the National Assembly a bill for the amendment of the revenue allocation formula in favour of states and local government in the country.

Mimiko gave the charge in Akure, the state capital while speaking after the swearing in of the newly elected chairmen of the 18 local government areas of the state.

The inaugurated local administration was the first democratically elected administration at the third tier of government since 2009 when Mimiko came on board as the governor of the state.

The governor, who said the current fiscal federalism whereby the Federal Government takes 52 per cent of the revenue accruing to the nation, leaving the states and local governments with 26 and 20 per cent respectively does not take care of the enormous responsibilities of the two tiers of government that are closer to the populace.

He said though the revenue formula ought to be reviewed every five years, the Revenue Mobilisation Allocation And Fiscal Commission (RMFAC) had not done this because the Federal Government had not presented a bill to that effect to the National Assembly.