Govs demand cut of FG allocation from 52 to 35%

DISSATISFIED with the current revenue sharing formula, governors have proposed a new arrangement that would give the Federal Government 35 per cent, states 42 per cent and local governments 23 per cent.Under the current formula, the Federal Government takes 52 per cent, states 28 per cent and councils 20 per cent.Rising from a meeting of the Nigeria Governors Forum (NGF) in the early hours of yesterday in Abuja, the governors equally deliberated extensively on what they tagged the 'continuing unconstitutional deductions' y the Federal Government from the Federation Account in the name of oil subsidy which negates the principles of federalism and budgetary provisions.
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