Cumbersome Revenue formula of Nigeria needs review

The national leader of All progressives congress, APC , Ahmed Tinubu on Saturday called for timely review of revenue formula of the country ,urging southwest governors to collaborate in boosting the revenue of the region.

Tinubu made the call during the commissioning of Ondo state internal revenue services complex in Akure, the state capital.

Alhaji Tinubu who observed some loopholes in the revenue formula appealed to governors in the geopolitical zone to apply synergy used in Oodua investment to address the problems

Tinubu who Described Ondo State as a great potential for energy, economy and agriculture, said when the potentials were fully utilized and youths were engaged, social unrest in the region would become history.

He said “ The cumbersome revenue formula of Nigeria as at today needs to be reviewed.

If the fiscal element of our Nigerian economy is strictly well supervised, we can turn our population to prosperity instead of our liability

You can equally use the synergy with the Odua investment to collaborate not only on Amotekun syndrome. Amotekun is a creation of necessity for hoodlums caused by unemployment, frustrating and hunger.

If everybody is engaged, Amotekun will be a pet. If you work with Odua investment look at the area of collaboration. I know Ondo for great potential for gas, energy and tourism to feed this country. ”

Alhaji Tinubu however encouraged the state residents to see prompt payment of their taxes as obligation saying no nation could develop without the contributions from its citizens

In a remark , Akeredolu who said the state internally generated revenue had risen from five hundred million to two billion naira disclosed that the edifice cost less than eight hundred million naira

Governor Akeredolu hinged the timely construction of the building on dwindling revenue generation and poor working conditions of the workers

The programme was attended by political gladiators including Lagos State Governor, Babajide Sanwoolu, Osun state governor, Gboyega Oyetola, his Kogi counterparts, Yaya Bello and the pioneer national leader of APC, Chief Bisi Akande.