The former military President, Gen. Ibrahim Babangida, who exercised
maximum powers over the affairs of Nigeria for eight years, on Monday
called for the devolution of powers between the federal, state and local
governments in the spirit of true federalism.
Babangida made the call when the
Chairman of Revenue Mobilisation, Allocation and Fiscal Commission,
Chief Elias Mbam, paid him a visit at his residence in Minna.
It is however pertinent to state that if General Babangida really
believed in true federalism, he had all the powers to restructure the
country along that line when he was a maximum ruler.
The former president said that besides proper devolution of powers,
there was need for a review of revenue sharing formula in favour of the
states and the local government councils.
He said that a greater percentage of revenue should go to the state
and local governments because their of closeness to the masses.
The former military president also canvassed for diversification of
the economy from the current mono-source - oil, to other revenue
alternatives.
Babangida commended the commission for carrying out its assignment diligently in spite of the challenges.
Earlier, Mbam said the visit was part of extensive consultation with
all stakeholders before drawing up a new revenue sharing formula.
He noted that the review of the revenue sharing formula was last held during the Babangida regime.
The chairman said that the new revenue sharing formula would be ready by December.
