Presidential candidate of the All Progressives Congress, Bola Tinubu is considering a review of the revenue-sharing formula among the three tiers of government, if elected as president in 2023.
This was indicated in Tinubu’s 80-page manifesto document titled, “Renewed Hope 2023 – Action Plan for a Better Nigeria,” which was released on Friday.
According to the manifesto, Tinubu promises to allocate more funds to the states and local governments to address local concerns and fulfil their expanded constitutional obligations to the people.
The APC presidential candidate noted that too much powers and resources have been lodged at the federal level since the inception of this country hence he plans to review the sharing formula.
He stated that the existing arrangement has been problematic because “state governments are closer to the people and must be more responsive to local needs and aspirations.”
Tinubu said, “his administration will embark on a review of the federation revenue allocation system to recalibrate the division of funds amongst the three tiers of Government: Federal, State and Local.
“More funds should be allocated to the States and Local Governments so that they can better address local concerns and fulfil their expanded constitutional obligations to the people,” he said.
Tinubu also disclosed that his government will work with the National Assembly to review the existing exclusive legislative list and give more responsibilities to states and local governments.
According to Tinubu, the focus areas of his government will include, crime prevention, prisons, stamp duties and certain forms of taxation.
The APC presidential candidate said the actions will “promote stronger governance at the state and local level, thus reducing political congestion and competition for resources at the federal level. The performance of federal, state and local governments shall improve while the people will benefit by having more political democracy and economic development more closely at hand.”