Sen. Sunday Karimi (APC-Kogi West), on Tuesday presented a Constitution Alteration Bill to the Senate, seeking adjustment to the 1999 Constitution on revenue allocation formula.
The News Agency of Nigeria reports that the bill, entitled: Constitution of the Federal Republic of Nigeria, 1999 (Alteration) Bill (SB 1016) scaled the first reading during plenary.
Briefing newsmen after the plenary, Karimi said that the proposed alteration seeks to increase Federal Government revenue allocation to address mounting financial obligations and national responsibilities across Nigeria.
He described the current revenue sharing formula as outdated and unsustainable, stressing that it was placing excessive financial pressure on the federal government, amid rising infrastructure decay and insecurity nationwide.
According to him, federal roads nationwide have deteriorated badly, while huge resources are committed to combating banditry, terrorism and other security threats across the country.
He noted that federal road projects awarded since 2014 had remained uncompleted due to inadequate funding, forcing contractors to stage protests over persistent non-payment by government.
He said: “I am here to brief you on the alteration bill to the Constitution of the Federal Republic of Nigeria that I presented to the senate.
“The revenue formula has become too old and no longer sustainable. There is too much financial burden on the federal government.
“All the federal roads all over the country are down. Apart from the roads, a lot of funds are being spent on fighting banditry.
“All the federal government roads awarded since 2014 have not been completed because of inadequate funds,” he said.
Karimi further stated that federal government’s responsibilities had expanded beyond available resources, insisting that the current revenue allocation was insufficient to meet governance, infrastructure and security obligations effectively.
The bill, according to him, seeks adjustment of the revenue sharing formula, even as he stressed the need to educate Nigerians to avoid politicising the issue.
“So what I’m asking for is an adjustment in the revenue allocation formula to increase the federal government’s allocation.
“I know that if we are asking for a change, Nigerians will bring politics into it. So we need to educate Nigerians on this development.
“This is why we need this alteration to increase the revenue accruing to the federal government.
“Under this sharing formula, some states are getting more with no one asking them questions about what they are doing with their allocation, ” he added.
The senator noted that inadequate funding also affected the military’s fight against terrorism, arguing that revenue adjustment was necessary to relieve pressure on the federal government.
