BREAKING! New Revenue Formula: FG Proposes 50.65%, 25.62%, 23.73% For FG, States, LGs

The Federal Government has proposed a revenue allocation formula of 50.65%; 25.62 %; and 23.73% for Federal States and Local Governments in the country with a derivation Allocation of 13 %.

Secretary to the Government of the Federation, Boss Mustapha stated the Federal Government’s position Tuesday in Abuja at a Town Hall meeting.

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Boss Mustapha also restated that revenue allocation should be done constructively in the face of dwindling national revenue base and the imperative for states to generate their own IGR, adding that the review should culminate in improved national development. Details later.