The Senate has proposed a review of Nigeria’s revenue-sharing formula to increase the allocation to the Federal Government. The proposal is contained in a constitutional amendment bill sponsored by Senator Karimi Sunday, representing Kogi West, which passed first reading during plenary on Tuesday.
The bill, titled Constitution of the Federal Republic of Nigeria, 1999 Alteration Bill 2026, seeks to adjust the current formula under which the Federal Government receives 52.68 per cent, states 26.72 per cent and local governments 20.60 per cent. The proposal comes amid sustained calls for a new revenue formula that would favour states and local governments.
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Speaking at a media conference in Abuja, Senator Karimi said the Federal Government was overburdened by responsibilities, including the rehabilitation of Trunk A roads and rising security costs. He also alleged that some states have little to show for funds received from the Federation Account, ahead of the bill’s second reading.
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