Revenue Mobilization and Fiscal Commission (FRSC) has listed the preconditions for the adjustment of the sharing of revenue by the three tiers of government from the Federation account.
Former Chairman of the Agency, Shettima Abba Gana, in an interview, agrees that the State and Local Governments are right in demanding the review of the revenue sharing formula.
He, however, explains that sharing of revenue by the three tiers of government is a constitutional issue, because each of them is assigned functions.
Abba Gana says until the constitution is amended and more of the functions are moved from the concurrent and legislative list, the revenue sharing formula will remain the same.
The former RMAFC chairman, who argues that even the review of the sharing formula will not solve the financial problems of the State and Local Governments, says the way out is for fresh source of revenue.
He suggest the review of the product sharing contract with oil exploration companies to generate more revenue for sharing by the three tiers of government.