House Demands New Revenue Allocation Formula

Proshare

From Onwuka Nzeshi in Abuja, 06.25.2010 


The House of Representatives yesterday demanded from President Goodluck Jonathan a new revenue allocation formula because the existing formula for the disbursement of revenue accruing to the Federation Account had become obsolete.



The House unanimously adopted a resolution on the issue  and urged Jonathan  to,  without further delay,  table before the National Assembly   the revenue allocation formula earlier presented to him by  the Revenue Mobilisation Allocation  and Fiscal Commission in line with Section 162 (2) of  the 1999 Constitution.In a motion brought before the House by Honourable Leo Ogor and 21 others, the House noted that the revenue allocation formula now in use is the “Allocation of Revenue (Federation Account, etc) Modification Order 2002” which has been modified twice but without the input of the National Assembly.



During the debate, Ogor argued that Section 162 92) of the Constitution of the Federal republic  of Nigeria, 1999 empowers  the President upon receipt of advice from the Revenue Mobilisation Allocation and fiscal Commission shall table  before the National Assembly proposals for revenue allocation from the Federation Account.According to him, Part1, paragraph 32 (b) of the Third Schedule of the Constitution of the Federal Republic of Nigeria, 1999 allows for the review  of existing revenue formula  and principles in operation to ensure conformity  with changing realities.



He disclosed that the House was aware that  in consonance with the relevant laws, the Revenue Mobilisation Allo-cation and Fiscal Commission  has already presented  the advice to the President on the proposals  for a new Revenue Allocation Formula and expressed concern that Mr. President  was yet to fulfil this  constitutional responsibility.



Also yesterday, the House in the Committee of the Whole, resumed consideration  of the report of its Special Ad-hoc Committee on the Review  of the 1999 Constitution on a Bill for an Act  to establish  the Independent  National electoral Commission, regulate the conduct  of Federal, State and Area Council elections  and to repeal the Electoral Act 2006. Although it passed virtually all the recommendations and amendments, the passage of the bill has been deferred till another legislative day. 



The postponement was to allow another Special Ad hoc Committee of the House to submit its report on the thorny issue of empowering the Independent National Electoral Commission to register and de-register political parties.



Meanwhile six new bills were presented to the House for first reading at Thursday’s plenary. They include  Deoxyribonucleic Acid (DNA) Identification Bill 2010; National Centre  for Agricultural Mechanisation Act (Amendment) Bill 2010; Nigerian Anti-Dumping Bill  2010 ; National Emergency Management  Agency Act (Amendment) Bill  2010; Industrial Training Fund (Amendment) Bill 2010 and Federal Parastatals Service Commission (Establishment) Bill 2010.


(Source:ThisDay)

READ MORE:
Related News
SCROLL TO TOP