The Commissioner for Finance in Osun, Bola Oyebamiji has asked state governments to improve on their internal revenue.

He also called on the Revenue Allocation Mobilization Committee (RMFAC) to do a review of the revenue allocation formula which will help states earn more from the Federal Accounts Allocation Committee (FAAC).

This is as the RMFAC Federal Commissioner in charge of Osun, Oladele Gboyega called for the review of the Federal allocation going to the state due to the obvious changing realities which include issues regarding health, security and others.

The Commissioner stated this during a meeting with the Federal Commissioner representing Osun at RMFAC, Oladele Gboyega in preparation for the South-West zonal public hearing on the review of the vertical revenue allocation formula.

Oyebamiji noted that if FAAC will adopt a just, fair and equitable revenue allocation formula for the country, then states of the federation need to earn more while the federal government should reduce its own share because it is the state governments that deal more directly with the masses.

While calling on states of the federation to also work to improve on their internally generated revenue, the Commissioner solicited that a state like Osun needs more from FAAC because the present administration has a lot to do in terms of impacting the lives of the masses.

He said, “We definitely want to add more value to the lives of our people, I know that states must also do more in terms of revenue generation but it is time the nation’s revenue sharing committee must review the revenue sharing formula for the states to earn more.

“State governments deal with the masses more, state governments are directly responsible for the social security issues of the masses and this they must take care without any choice. The present sharing formula has been in place since 1992 and has not been reviewed.

“There must be a progressive position across the board, so many parameters as at 1992, which is 29 years ago, has changed. The responsibilities of state governments have increased to a large extent and most state governors are just struggling to meet the needs of the masses in their various states,” he concluded.

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