Governor Ayodele Fayose of Ekiti State has called for the review of the existing revenue allocation formula for sharing of revenue by the three tiers of government, from the federation account.
The governor wants the percentage of allocation from the revenue to the 36 states, to be reviewed upward, while that of the federal government is reduced.
Fayose who made the call in Ibadan, in a memorandum sent to the South West edition of the ongoing public hearing on the negotiations for a new wage, said the existing revenue sharing formula is not realistic.
Fayose explained that the upward review of the allocation will enable the state governments to cope with a new minimum wage that will emerge from the ongoing negotiation of a new wage, by the tripartite committee of federal and state governments, the organized labour and private sector.
The labour has increased its demand for new national minimum wage to N66,500.