The Nigerian Senate has set machinery in motion for alteration of relevant provisions of the 1999 Constitution to pave way for more revenue allocation to the federal government through upward review of the current formula.
Though among the three tiers of government in the current revenue allocation formula, the federal government takes the lion share of 52.68% as against 26.72% given to the 36 States and 20.60% given to the 774 local government Councils, but the Senate through a bill sponsored by Senator Sunday Karimi ( Kogi West), wants more revenue for the federal government.
Explaining the intent of the bill which scaled first reading to journalists after the plenary on Tuesday, Senator Karimi said the proposed legislation basically seeks to rescue the federal government from grossly inadequate revenue to enormous responsibilities which according to him, is getting it suffocated .
“The proposed alteration seeks to increase federal government revenue allocation to address mounting financial obligations and national responsibilities across Nigeria.
“The current revenue sharing formula is outdated and unsustainable because it places excessive financial pressure on the federal government amid rising infrastructure decay and insecurity nationwide.
“There is a need for adjustment in the revenue allocation coming to the Federal Government so that we can have a slight increase in what is coming to the Federal Government for it to meet its responsibilities,” he said.
He explained further that federal roads nationwide have deteriorated, while huge resources were committed to combating banditry, terrorism, and other security threats across the country.
“Responsibilities borne by the Federal Government, particularly the construction and maintenance of federal roads across the country, have become overwhelming under the existing revenue formula aside the enormous responsibilities on internal security.
“So what is needed now is an adjustment in the revenue allocation formula to increase the federal government allocation,” he stressed .
Senator Karimi added that inadequate funding also affects the military’s fight against terrorism which according to him, will be solved through increased revenue to the federal government.