Nigeria Governors have advocated 42 per cent of national revenue accruing to the Federation Account to States and 35 per cent to the Federal Government.
Ekiti State Governor and Chairman of the Nigeria Governor’s Forum (NGF), Dr Kayode Fayemi, who disclosed this, said Nigeria was also ripe for restructuring.
Dr Fayemi who spoke at a national dialogue and book presentation in Abuja stated that it is high time the sharing formula is reviewed in favour of the States, especially given the argument of devolved responsibilities to the sub-nationals.
He said the Nation’s Federal system has not served the best interests of Nigerians because it is devoid of devolution of power, decentralization and true federalism.
In the context of the proposed new federal structure, Governors have argued for a formula along the lines of 42 per cent to States, 35 per cent to the Federal and 23 per cent to local Governments.”