Breaking News
Translate

TUC backs govs’ call for review of revenue sharing formula

By Victor Young

LAGOS—THE Trade Union Congress of Nigeria, TUC, yesterday, urged the Federal Government to review the revenue sharing formula to financially empower the states and local governments to undertake projects that will impact on the lives of Nigerians, insisting that the current sharing formula renders the state financially impotent.

File: A cross section of members of the organised labour

President of TUC, Quadri Olaleye said this when the leaders of the Nigerian Union of Journalist, NUJ, in Lagos State paid him a courtesy visit.

Olaleye said: “There is no significant project that can be undertaken by the states and local government because of the huge percentage of revenue that is retained by the federal government in the existing revenue sharing formula. Therefore, it is expedient that the current revenue sharing formula is reviewed to enable the states and local governments to meet their obligations to the citizens.”

On the delay in the implementation of the N30, 000 new minimum wage, he said the time had come for politicians to be on a wage package similar to that of the civil servants.

Diezani: Ex petroleum minister defends $40m jewelries from UK(Opens in a new browser tab)

He said: “The cost of governance in this country is very disturbing and remains the reason for the delays and foot-dragging by the Federal Government over the issue. But we are positive that the minimum wage issue will be resolved soon.

“We have also written to the Central Bank of Nigeria, CBN, to be cautious in releasing foreign exchange as many privileged individuals now trade in dollars. They are not being fair to the local industries and the economy.”

Earlier, the Lagos NUJ Chairman, Qasim Akinreti, among others, urged the Congress leadership to speed up action on its negotiation with the government for workers to start enjoying the new wage, adding “there is need to find a level ground to enable workers to enjoy the wage.”

Vanguard

All rights reserved. This material and any other digital content on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from VANGUARD NEWS.

Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.