Nigeria’s revenue formula needs review – Tinubu


The National Leader of the All Progressives Congress, APC, Bola Ahmed Tinubu has called for an urgent review of the revenue formula of the country.

According to Tinubu, if the fiscal elements of Nigeria’s economy are strictly supervised, the population of the country can be turned to prosperity rather than liability.

The APC national leader said this on Saturday in Akure, Ondo State capital during the commissioning of the Ondo State Internal Revenue Service Complex constructed by the Governor Oluwarotimi Akeredolu’s administration.

Commissioning of the complex was part of events to flag off the campaign of Governor Akeredolu’s reelection bid.

Tinubu who observed some loopholes in the revenue formula of Nigeria appealed to governors within the south-west geopolitical zone to apply synergy used in Oodua Investment to address the issue.

Describing Ondo State as a great potential for energy, economy and agriculture, Tinubu said when the potentials were fully utilized and youths were engaged, social unrest in the region would become history

“The cumbersome revenue formula of Nigeria as at today needs to be reviewed.


“If the fiscal element of our Nigerian economy is strictly well supervised, we can turn our population to prosperity instead of our liability

“You can equally use the synergy with the Odua investment to collaborate not only on Amotekun syndrome. Amotekun is a creation of necessity for hoodlums caused by unemployment, frustration and hunger.”

Earlier, Governor Akeredolu who said the state internally generated revenue had risen from N500m to N2b disclosed that the edifice cost nothing less than N800m.

The event was attended by Lagos State Governor, Babajide Sanwoolu, Osun State Governor, Gboyega Oyetola, Chief Bisi Akande among others.

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