If elected as the next president, Asiwaju Bola Tinubu, the All Progressives Congress (APC) Presidential Candidate in the 2023 general elections, has promised an upward review of revenues accruable to state governments.
Tinubu made the pledge in his campaign action plan, dubbed “Renewed Hope,” which was made public in Abuja on Friday.
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He mentioned it as one of the steps he was taking to bridge the development gap between the federal government and the 36 state governments and the Federal Capital Territory (FCT).
Tinubu also stated in the document that the initiative would bring faster development to the country’s grassroots areas.
‘’The allocation of revenue between the federal and state governments will be adjusted to give greater flexibility to foster grassroots economic developments,‘’ he said.
According to the News Agency of Nigeria (NAN), the Federal Government currently receives 52.68 per cent of the revenue shared, states receive 26.72 per cent, and local governments receive 20.60 per cent.
Tinubu proposed fiscal activeness in his economic blueprint, which includes anti-corruption, prudence, open governance, and mutual trust between the government and the governed.
He also promised to reduce the country‘s reliance on crude oil earnings and over-exportation of other raw materials capable of boosting domestic industries.
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‘’We will improve on existing industries and sectors. We will be brave and innovative enough to see how new economic visitors powered by today’s technology can create jobs and provide goods and services that will propel us towards greater prosperity and development.
‘’We will build an economy that produces more of the everyday items, both agricultural and manufactured goods, that define an individual’s and a nation’s standard of living,’’ he said.
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