Lagos State government, yesterday, said it would continue to push for a special status for the state in the sharing formula of revenue by the Federal Government. It said the time for a review of the subsisting revenue sharing formula was long overdue. Stakeholders, representatives of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), members of the state executive council, lawmakers and local council representatives all agreed for upward review of revenue allocation for the state. xHe said that the revenue allocation formula inherited from the military was skewed largely towards the Federal Government, which, according to him, is inconsistent with present realities. Olowo reiterated that with the status of Lagos as the economic nerve centre of the country, the demand for a special status for Lagos State had been long overdue.

Source: The Guardian September 22, 2021 04:18 UTC