Governor of Cross Rivers State, Ben Ayade, has charged the Revenue Mobilization, Allocation & Fiscal Commission, to increase the revenue allocation to the state.
This was contained in a statement issued by the Special Adviser, Media, and Publicity to the Governor, Christian Ita, who noted “Ayade, who addressed the Commission’s Committee on Fiscal Efficiency & Budget, lamented Cross River’s poor financial status, which he blamed on the ceding of Bakassi Peninsula to Cameroon and the consequent transfer of the state’s 96 oil wells to Akwa Ibom state by the federal government.”
The Governor further noted that “the twin actions of the federal government plunged Cross River state into severe financial crisis and untold hardship; leaving her helpless with the second smallest federal allocation in the country.
“The federal government was unfair to Cross River despite being responsible for her plight;’” and appealed to RMAFC to consider upscaling federal allocation to the state.”
Ayade further solicited the intervention of the RMAFC through the commission’s special fund; for the development of natural resources, to enable the state to consolidate on the gains recorded; particularly in the area of agro-industrialization.
He said the numerous industries and critical infrastructure put in place by his administration; were not only for the benefit of Cross River state but the entire nation; as they are meant to create hundreds of thousands of jobs for the teeming youths; help further stimulate the economy and fight hunger and poverty.
Responding, Chairman of RMAFC’s committee on Fiscal Efficiency & Budget, Adamu Shettima Yuguda pledged to “ensure fairness and equity in making sound recommendations to President Muhammadu Buhari.”
The chairman who regretted the harsh predicament faced by Cross River State; due to low allocation disclosed that the Commission’s Special Fund for the development of natural resources; from where the state is seeking intervention “was established to help achieve resource diversification; and provide an alternative source of revenue to oil, not only to the federal government but also the sub-nationals.”