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Oshiomhole seeks new revenue sharing formula

By Gabriel Enegholase
BENIN — EDO State Governor, Adams Oshiomhole, Wednesday, called for review of the revenue sharing formula in the country to enable the component states and local government areas have more funds for development.

The Governor, who spoke at the 3rd National Business Conference of the School of Business Studies, Auchi Polytechnic, described the current revenue sharing formula as lopsided and disadvantageous against the states.

He said the theoretical calculation of the revenue sharing formula means that for every N100, Abuja gets N52.6k while the 36 states, including the Federal Capital Territory and the 774 local government areas share the remaining N47.4k.

“What does Abuja have to do with building classrooms in local government areas or states?”, he asked.

Nothing will work this way and unless we change to a better revenue sharing formula, how can we create a better society for our people.”

According to him, “Lagos used to be an industrial hub, but  the textile sector, leather, chemical and other industries have been sent  to the grave yards while the industrial cities of Baradai and Bompai in Kano have become ghost towns not because of world economic meltdown but because of the leadership lacking in qualities appropriate of their office.

“As president of the Nigeria Labour Congress, I used to suspect but now as a governor and an insider, I know that Nigeria as a country has enough to meet the basic needs of the people but not enough to satisfy the greed of the few, who continue to steal from its commonwealth”, Oshiomhole said.

He called on Nigerians, including students present to ‘ask questions and demand answers’ from leaders, saying that in the past Nigerian leaders used to pride that the country was the most populous Black African nation but quality of the human resources is the important issue.


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