Special status: Lagos demands one per cent of Nigeria’s revenue as South-West states meet - Thepodiummedia

Post published:October 5, 2021
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Babajide Sanwo-Olu

Babajide Sanwo-Olu

Lagos State Governor, Mr Babajide Sanwo-Olu on Monday demanded one per cent share in the revenue allocation formula after stating that the special status of the state and its prosperity directly or indirectly has multiplying effects on the South-West region and the entire country.

He also proposed that the revenue sharing formula should be 34 per cent for Federal Government including one per cent for FCT – Abuja, 42 per cent for State Governments, 23 per cent for Local Governments and one per cent for Lagos State (special status) as against the current revenue allocation formula, which were 52.68 per cent, 26.72 per cent and 20.60 per cent for Federal Government, 36 state governments and 774 local governments respectively.

He spoke during the opening event of a two-day South-West zonal public hearing on review of revenue allocation formula by the Revenue Mobilisation Allocation and Fiscal Commission, in Lagos State on Monday.

The participating states at the event were Lagos, Ogun, Osun, Oyo, Ondo and Ekiti States.

He said, “I should say that it will actually be unfair to expect the state to bear this heavy burden on its own. It is therefore necessary to give due consideration to all the variables that support our advocacy for a special status.

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“The call for a special status for Lagos is not a selfish proposition; it is in the best interest of the country and all Nigerians, for Lagos which accounts for about 20 per cent of the national Gross Domestic Product and about 10 per cent of the nation’s population to continue to prosper.”

The Chairman, RMAFC, Elias Mbam, said it would consult with the six zones in the country on how to review revenue allocation formula.

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He said the zonal public hearing would also be replicated in the other five geopolitical zones.

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Morak Babajide-Alabi is a graduate of Mass Communication with a Master of Arts Degree in Journalism from Napier University, Edinburgh, United Kingdom. He is an experienced Social Media practitioner with a strong passion for connecting with customers of brands.

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He started his brand management career at Owena Bank as Media Relations Manager before joining Prudent Bank (now Polaris Bank) as the pioneer Head of Corporate Affairs.

The British Council appointed him as Head of Communication and Marketing to co-ordinate branding and reputation management activities at its Lagos, Abuja, Kano and Port Harcourt offices.

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