True Federalism Best Option For Nigeria, Says IBBFeatured, Femi Kehinde, Latest News, News Tuesday, October 22nd, 2013
Femi Kehinde, Lagos
Former military President, Gen. Ibrahim Babangida, has canvassed for true federalism as the best option for Nigeria.
Babangida stated this when the Chairman of Revenue Mobilisation, Allocation and Fiscal Commission, Chief Elias Mbam, paid him a visit at his residence in Minna on Monday.
He said that the devolution of powers between the federal, state and local governments is in the spirit of true federalism adding that besides proper devolution of powers, there was need for a review of revenue sharing formula in favour of the states and the local government councils.
He advocated that a greater percentage of revenue should go to the state and local governments because of their closeness to the masses.
Earlier in his address, Chief Mbam said the visit was part of extensive consultation with all stakeholders before drawing up a new revenue sharing formula which would be ready by December.
According to him, the review of the revenue sharing formula was last held during the Babangida regime.
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