
FGN Begins Review Of Revenue Allocation Formula
FG Begins Review Of Revenue Allocation Formula The Federal Government has officially commenced the process of reviewing the nation’s revenue allocation formula to meet current realities. Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Mohammed Bello Shehu announced the commencement of the review process at a press conference at Yar’Adua Centre in Abuja on Monday. There are indication that the new formula would give more funds to the states of the federation. Sources in the commission disclosed that government was planning to increase total allocation to the states to between 30 and 40% from the current formula which…