• Thursday, March 28, 2024
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Nigeria’s cumbersome revenue formula needs to be reviewed – Tinubu

Tinubu-Akeredolu

The National leader of the All Progressives Congress (APC), Bola Ahmed Tinubu, has called for review of revenue formula of the country, urging Southwest governors to apply synergy used in Oodua investment to address the problem.

Tinubu made the call on Saturday during the commissioning of Ondo state internal revenue service complex in Akure, the state capital.

The APC national leader, who described Ondo state as a great potential for energy, economy and agriculture, said when the potentials were fully utilized and youths were engaged, social unrest in the region would become history.

“The cumbersome revenue formula of Nigeria as at today needs to be reviewed.

“If the fiscal element of our Nigerian economy is strictly well supervised, we can turn our population to prosperity instead of our liability

“You can equally use the synergy with the Odua investment to collaborate not only on Amotekun syndrome. Amotekun is a creation of necessity for hoodlums caused by unemployment, frustrating and hunger.

“If everybody is engaged, Amotekun will be a pet. If you work with Odua investment look at the area of collaboration. I know Ondo for great potential for gas, energy and tourism to feed this country,” Tinubu said.

The former Lagos state governor, however encouraged the state residents to see prompt payment of their taxes as obligation saying no nation could develop without the contributions from its citizens.

Earlier, Governor Oluwarotimi Akeredolu said the state internally generated revenue had risen from five hundred million to two billion naira disclosed that the edifice cost less than eight hundred million naira.