By Emma Ujah, Abuja Bureau Chief
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), has commenced work on the review of the indices used in the sharing formula of federation resources among states and local governments.
The Chairman of the Commission, Mr. Mohammed Bello Shehu disclosed that the organisation was set to roll out a proprietary software for the collection of data on the indices to be used for the horizontal Revenue Allocation Formula.
Announcing the take-off of its maiden tooling programme in Abuja, yesterday, Mr. Bello, said that the tooling exercise was targeted at equipping selected officials of states and local governments in the country, with an in-depth understanding and operation of the electronic platform that the Commission would use in data collection as it prepares to review the indices for the Horizontal Revenue Allocation Formula among the second and third tiers of government.
Under the current formula, the federal government gets 52.68 per cent, the 36 states share 26.72 per cent while the 774 local government areas in the country share 20.60 per cent of federation revenue monthly.
Although the details of the new formula have not been disclosed, it was learnt that it reduced the federal government share of the revenue, which has been seen as a reason while federal authorities are no enthusiastic about forwarding it to the National Assembly
The post <strong>Revenue Commission to review sharing formula among states, LGs</strong> appeared first on Vanguard News.
Leave a Reply