Abia State Governor, Dr. Okezie Ikpeazu has advocated for true fiscal federalism where states will have powers to manage resources and pay royalties to the federal government.
Ikpeazu, who stated this when he received in audience a delegation led the Federal Commissioner representing Abia State at the Revenue Mobilization Allocation and Fiscal Commission (RMAFC), Dr. Chris Akomas at Government Lodge, Aba, said the Eastern Region of Nigeria used to be the fastest growing economy in the world during the times of Dr. Michael Okpara because there was true federalism with different regions controlling their resources.
“States must be allowed to enjoy the advantages of those endowments since they also live with the disadvantages of such endowments, especially environmental degradation. The Eastern Region of Nigeria used to be the fastest growing economy in the world during the times of Dr. Michael Okpara when there was true federalism with different regions controlling their resources.
Ikpeazu further advocated that funds reserved for federal roads by the federal government should be sent to the States to fix the federal roads that cut across those States.
‘My administration is intervening on many federal roads. Paucity of funds has made it impossible for states like Abia to fix federal roads for its citizens. Even if 100 percent of the state’s allocation is deployed in the Abia axis of Enugu-Port Harcourt express way, it would not be enough to fix it.”
The Governor noted that the clarion call for states to make contributions to the ongoing review of the revenue sharing formula by RMAFC is desirable.
He set up a committee led by the Commissioner of Finance, Dr. Aham Uko, to look into the ongoing review of the revenue sharing formula and assured that the State would cooperate with the RMAFC and make its position known.
Earlier, Dr. Chris Akomas who is the Chairman of the Committee on Disbursement of the Commission said the team was in the State to sensitize the state government on the ongoing process of the review of the revenue sharing formula.
He disclosed that the next stage in the process of reviewing the revenue sharing formula would be the Zonal Public Hearings where States would make their positions known.
