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BREAKING News: Senate Declares Nigeria's Current Revenue Sharing Formula 'Illegal'

Posted by Odinaka on Thu 27th Jul, 2017 - tori.ng

The Senate has declared that the nation's current revenue sharing formula to states and local government areas as 'unconstitutional' and does not reflect the country's present realities.

File photo: Senate chamber

The members of the Senator Bukola Saraki-led Senate have on Thursday, called for a review of Nigeria’s revenue sharing formula to give states and local government areas greater share than what they get in the current formula, which gives more to the federal government.

According to Premium Times, the Senate said the current formula is “unconstitutional” and does not reflect the country’s present realities.

The Senate had on Wednesday, rejected a constitutional review proposal to devolve greater powers to the states, after complaints the proposal did not seek to give the federating units greater share of the national revenue and control over resources.

This is a developing story, we'll be bringing you more details shortly...