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Governors of Nigeria's 17 southern states on Monday proposed a new revenue allocation formula after rejecting one recently worked out by the federal government's Revenue Mobilization, Allocation and Fiscal Commission, news organisations reported.
The commission had proposed that 41.3 percent of national revenue be allocated to the federal government, 31 percent to states, 16 percent to local governments and 4.7 percent to a special fund.
However, the governors proposed at a one-day meeting in Abuja that 36 percent should go to the federal government, 36 percent should go to states, 25 percent to local governments, one percent to the federal capital, Abuja,
and two percent to the environment, PANA reported.
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