Uzodimma advocates revenue formula anchored on fiscal discipline

Imo State Governor, Senator Hope Uzodinma has insisted that revenue allocation formula must be anchored on fiscal discipline and sense of ownership.

The Governor spoke when he declared open, the Fiscal Allocation Commission review sensitization exercise in Owerri Wednesday.

He encouraged stakeholders and leaders of thought drawn from the public and private sectors to participate effectively in the sensitization program.

He harped on the need to prepare their submissions for a public hearing that will hold on October 23 and 14, 2021.

Governor Uzodimma said the sensitization is “a golden opportunity to look at the revenue allocation holistically and for those who have been writing petitions, expressing disgust on the current formula used in the sharing of Federal Revenue since 1992 to use the opportunity and make credible submission

The governor expressed dismay over the level of environmental degradation in the oil producing areas, especially in Imo State which he said “is very monumental and devastating”.

Uzodimma lamented the pollution of our rivers, seas, the farm lands, saying that while the fishes are dying and the lands no longer fertile for production, “there must be special provision that will take care of oil producing or bearing Communities.”

He said the attitude of oil companies in most communities is very worrisome as they only enter into MOUs that create confusion and bring quarrels and conflicts in the communities instead of helping the communities to develop their infrastructure, education, health, electricity, roads as is obtainable in the developed world

He therefore insisted on a revenue allocation formula that “will introduce fiscal discipline and sense of ownership to the citizens as that is the only way both the Government and the people would be happy with the Federal Government and the Revenue Mobilization and fiscal Commission.”

Briefing the audience on the essence of the sensitization, the Federal Commissioner representing Imo and Abia in the Revenue Mobilization and Fiscal Commission, Chief Alozie Akomas explained that the Review is a constitutional matter that ought to take place every five years.

He assured that the Commission is desirous of producing an acceptable revenue formula that will satisfy the yearnings of Nigerians, hence the essence of the nationwide sensitization and public hearing

Welcoming the team, the Chairman of the Committee on the Sensitization and the Hon. Commissioner for Finance and Coordinating Economy, Dr. (Mrs.) Doris Anite Uzoka thanked all for coming, especially the Governor and requested that the stakeholders take the exercise seriously as the last bus stop to the demand for revenue formula review.

On behalf of her Committee members, she promised not to fail the Government and the people of Imo State in the assignment.