The Senate has initiated steps to amend relevant provisions of the 1999 Constitution to review Nigeria’s revenue allocation formula, with the aim of increasing the share accruing to the Federal Government.
Under the current formula, the Federal Government receives 52.68% of national revenue, while states get 26.72%, and the 774 local government councils receive 20.60%
A bill sponsored by Senator Sunday Karimi seeking a further increase in the Federal Government’s allocation has passed first reading in the Senate.
Addressing journalists after plenary, Senator Karimi said the proposed amendment is designed to address what he described as grossly inadequate revenue available to the Federal Government in the face of its expanding constitutional responsibilities.
According to him, the existing revenue sharing formula has become outdated and unsustainable, placing excessive financial pressure on the Federal Government amid worsening infrastructure decay and rising insecurity across the country.
Senator Karimi explained that the condition of federal roads nationwide has deteriorated significantly, while enormous resources are being committed to tackling banditry, terrorism, and other security challenges.
He stressed that the responsibilities borne by the Federal Government, particularly in road construction and maintenance as well as internal security, have become overwhelming under the current allocation framework.
The lawmaker maintained that the proposal does not suggest misuse of public funds but rather seeks a necessary adjustment to enable the Federal Government meet its obligations more effectively.
He added that inadequate funding has also impacted the military’s fight against terrorism, a situation he said could be improved through increased revenue allocation to the Federal Government.
(Editor: Anoyoyo Ogiagboviogie)
