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Lagos demands special status on revenue allocation

By Gbenga Salau and Kehinde Olatunji
22 September 2021   |   4:03 am
Lagos State government, yesterday, said it would continue to push for a special status for the state in the sharing formula of revenue by the Federal Government.

Rabiu Olowo

• Says formula inherited skewed towards FG
• Insists review of sharing long overdue
• House of Assembly mourns ex-member, Adegeye

Lagos State government, yesterday, said it would continue to push for a special status for the state in the sharing formula of revenue by the Federal Government.

It said the time for a review of the subsisting revenue sharing formula was long overdue. Stakeholders, representatives of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), members of the state executive council, lawmakers and local council representatives all agreed for upward review of revenue allocation for the state.

The state Commissioner for Finance, Dr. Rabiu Olowo, said the effort was a proactive move to gather data towards an upcoming South-West regional stakeholders’ meeting on the review of the subsisting revenue allocation formula.

He said that the revenue allocation formula inherited from the military was skewed largely towards the Federal Government, which, according to him, is inconsistent with present realities.

Olowo reiterated that with the status of Lagos as the economic nerve centre of the country, the demand for a special status for Lagos State had been long overdue.

Commenting, a Federal Commissioner representing Lagos State at RMAFC, Dr. Adekunle Wright, said in view of the changing situation and demands, the commission had been prompted to host stakeholders across the country towards reviewing the revenue formula.

On her part, Permanent Secretary, Ministry of Finance, Mrs. Ayoola Oyeyemi, said since its introduction over 32 years ago, stakeholders had never come under a forum for deliberation to review the revenue formula.

She said that the state should bring up robust memoranda for onward submission towards the upcoming zonal public hearing. For the state’s Commissioner for Economic Planning and Budget, Mr. Sam Egube, upward review of allocation to the state is critical because Lagos is a significant national asset.

MEANWHILE, the state House of Assembly, yesterday, mourned a former member of the House, Risikat Adegeye, describing her demise as the “fall of a shining star.” Adegeye, wife of the musician, King Sunny Ade, was said to have died in the early hours of Tuesday during a brief illness.

The Speaker, in a statement by his media office, said her death was shocking and that the incident had thrown him and his colleagues into mourning.

According to Obasa, Adegeye, a philanthropist, died at a period she was still very relevant to the progress of Lagos. While at the Assembly, Adegeye, a loyal member of the All Progressives Congress (APC), represented Amuwo-Odofin Constituency I.

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