OSUN Finance Commissioner Advocates Improved Federal Allocation to States.






Commissioner for Finance in Osun, Mr Bola Oyebamiji has called on the Revenue Allocation Mobilization Committee (RMFAC)  to do a review of the revenue allocation formula which will help states earn more from the Federal Accounts Allocation Committee (FAAC).

The Commissioner stated this during a meeting with the Federal Commissioner representing Osun at RMFAC, Mr Oladele Gboyega in preparation for the South-West zonal public hearing on the review of the vertical revenue allocation formula.

Oyebamiji noted that if FAAC will adopt a just, fair and equitable revenue allocation formula for the country, then states of the federation need to earn more while the federal government should reduce its own share because it is the state governments that deal more directly with the masses.

While calling on states of the federation to also work to improve on their internally generated revenue, the Commissioner solicited that a state like Osun definitely needs more from FAAC because the present administration has a lot to do in terms of impacting on the lives of the masses.

He said, "We definitely want to add more value to the lives of our people, I know that states must also do more in terms of revenue generation but it is time the nation's revenue sharing committee must review the revenue sharing formula for the states to earn more.

"State governments deal with the masses more, state governments are directly responsible for the social security issues of the masses and this they must take care without any choice. The present sharing formula has been in place since 1992 and has not been reviewed.

"There must be a progressive position across board, so many parameters as at 1992, which is 29 years ago, has changed. The responsibilities of state governments have increased to a large extent and most state governor's are just struggling to meet the needs of the masses in their various states.",he concluded.

Corroborating the position of the Osun Commissioner for Finance, the RMFAC Federal Commissioner in charge of Osun, Mr Oladele Gboyega said it is definitely time for allocation to the states to be reviewed upward going by the obvious changing realities which include issues regarding health, security and others.

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