#Financial news

ODSG tasks FG on revenue redistribution

By Fatima Muraina
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Ondo state government has called for the review of the revenue allocation formula to meet the present demand of the Nigeria Labour Congress on the proposed minimum wage.

The State Commissioner for Budget and Planning, Mr. Emmanuel Igbasan, made this request in an interview with The Hope in Akure, Ondo state.

His words: “I can tell you clearly without playing to the gallery that the state does not have such finance unless there is  redistribution of the income from the Federal Government.”

The Federal government takes the larger shunk of the money. If they jack up allocation to other tiers of government, most states will be able to accommodate labour’s demand.

We agree that workers should have their hands in minimum wage but the reality on ground is that most states, even at 18,000 minimum wage are owing several months salary”, he noted.

The Commissioner also observed that the states are not equally endowed, noting that where a state is making more than N30 billion in IGR in a year, some are struggling to beat the mark of one billion naira.

Igbasan who disclosed that the state has recorded an increment in it’s Internally Generated Revenue, said the state inherited debts it has to settle.

He explained that the recent Economic Summit hosted by the state is to bring development partners to create a synergy that can push the state to the next level in terms of development.

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