The State Commissioner for Finance, Budget, and Economic Planning, Hon. Asiwaju Idris has disclosed that Kogi State Capital, Lokoja is one of the fastest-growing cities around the world and the second growing city in Nigeria.
The commissioner stated this during the nationwide sensitization workshop of the 36 States including the FCT on the review of the existing allocation formula by the Revenue Mobilization Allocation and Fiscal Commission in government house, lokoja
The commissioner, in his speech, said he was happy to be part of the meeting, welcomed members of the commission to the state.
Hon. Idris who noted that the commission had paid a visit to the state earlier in the year said diversification of the economy and ways of how to increase the revenue of the state was the major point of discussion
He said the discussions on solid minerals that abound in the state as well the agricultural sector, especially on ways of empowering and providing gainful employment to the youths also form parts of the discussion.
Describing the fight against insecurity as a key objective of the state government, the commissioner hinted that without food security, there is going to be a lot of problems in achieving good security
He commended the state government for its efforts in ensuring that the state is safe from criminal activities
Hon. Idris said all the recent activities of the state government is geared towards achieving a credible budget for the betterment of its citizens
While calling on the commission, saddled with the responsibility of reviewing the revenue formula to assist the state to lessen its burden of governance through the allocation of more funds, added that the present sharing formula is not favorable to the states and local governments
He enjoined stakeholders to make meaningful inputs that will benefit the states and local governments in the sharing formula.
Proposing a 75% revenue formula for States and local governments, Hon. Idris said 50% distribution resources for States and 25% for local government will improve development across the nation.
According to the commissioner, with more resources, States will not be facing so many challenges.
He used the opportunity to appeal to the commission to look into the issue of the state especially that the state has a lot of mineral resources which among them is petroleum, oil, and gas, and therefore called on the commission chairman to use his good office to recommend Kogi state as an oil-producing state so that the President can make a formal declaration.
The Federal Commissioner of the Revenue Mobilization Allocation and Fiscal Commission and also the team lead to the state, Hon. Samuel Magbe disclosed that during the gas and crude oil committee preliminary session, Kogi State was approved as an oil-producing state and all necessary actions have been forwarded to the presidency for declaration
Hon. Magbe said it was an honor for him and his team to be in the state for the national assignment on the sensitization on the topical issue of
the vertical revenue allocation formula thanked the state government for the warm reception accorded him and the members of his team
He congratulated and commended the governor, Alh Yahaya Bello for his stance in the areas of security and the health sector
While imploring the cooperation of the government, Hon. Magbe said this is another golden opportunity for both government and stakeholders in Kogi to present the position they desire to the commission.
He said in compliance with the foregoing constitution provision, and given the changing socio-economic and political reality of the nation, the commission has been prompted to commence full-scale engagement of representatives of various stakeholders and the people nationwide with the process of fashioning revenue formula for the country.
He said over the years, Nigerians have yearned for the review of the existing formula which can bring sustainable development
Calling on stakeholders to get more informed and have their inputs, the commission chairman said their inputs will provide a workable template to assist the commission in its submission. He said the exercise has been designed to meet the interest of stakeholders through interaction at various levels.
He, however, said the commission will only be holding hearings in each of the six geo-political zones due to lack of funds and for the people of the north-central, the meeting will be held in Jos, the plateau state capital at a later date.
Speaking further, the commission chairman said, at the hearing in Jos, the state governments, local governments, and stakeholders will present their various memorandum and inputs to the commission where all will be collected from all the geo-political zones and finally, the position of the federal government will help the commission arrive at a just fair and equitable and appropriate revenue for the country
Princess Funsho Sumanu
Public Relations Officer