Lagos seeks 1% revenue over ‘Special Economic Status’

Lagos seeks 1% revenue over ‘Special Economic Status’

The Lagos State Government has demanded 1 per cent of revenue accruing to the federation account over its “Special Economic Status” recognition.

This was contained in a statement issued by Dr Rabiu Olowo, Commissioner for Finance in Lagos State, during a 2-day South West Zonal Public Hearing on the Review of Revenue Allocation Formula by Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), which entered the second day on Tuesday, October 5, at Victoria Island, Lagos.

The commissioner said that the federal allocation to the state should be a reflection of what the needs of the state were; also adding that the recognition of Lagos State’s “Special Economic Status” muted 45 years ago was long overdue.

“Allow me to restate that Lagos State Government through LSSTF has spent over N4 billion on Nigeria Police (including Marine Police and Navy) in one year (Published Audited Accounts of LSSTF).

“Over 200billion in providing educational and Healthcare Services to the populace in one year; and over 200billion on infrastructures (including Railway and Waterways Transport systems).

“Lagos State is breaking new grounds to make life easy for all Nigerians.

“As we continue to increase expenditure on the welfare of our growing population; the federal allocation to Lagos State on the basis of hospital bed spaces; school enrolments, etc continue to reduce every year,” he said.

Also Read: Ayade seeks increased RMAFC revenue allocation for Cross-River State

Olowo also added “This contravenes, the spirit of true federalism and the vision of our founding fathers.

“Indeed, the Federal Government had once promised special status to Lagos State in a nationwide broadcast of Feb. 3, 1976. Today we are in dire need of this entitlement.

“And we, the people of Lagos are demanding for 1 per cent of revenue accruing federation account; as allocation in respect of ”Special Economic Status” to the state.

“Once again, we all have a collective responsibility to ensure that the true yearnings of our people are reflected in the new Revenue Allocation Formula; so that posterity will judge us well when the long-term consequences are manifesting,” he said.

 

 

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