Nigerian Senate says current revenue sharing formula is illegal

The Nigerian Senate has said that the nation’s current formula of revenue sharing to states and local government areas is ‘unconstitutional’ and does not reflect the country’s present realities.

The Upper legislative chamber on Thursday, called for a review of the formula to give states and local government areas greater share than what they get in the current formula, which gives more to the federal government.

Recall that the Senate had on Wednesday, rejected a constitutional review proposal to devolve greater powers to the states.

The senate had argued that the proposal did not seek to give the federating units greater share of the national revenue and control over resources.

More to follow…

#senate