By Alex Okoro
OrderPaperToday – As the nation eagerly awaits the proposed review of salaries of public office holders, the House of Representatives has urged President Muhammadu Buhari to submit proposals for a new revenue allocation formula to the National Assembly.
The House resolution is sequel to a motion titled ‘Call for a New Revenue Allocation Formula for the Federation’ sponsored by Mr. Rotimi Agunsoye during Thursday’s sitting.
Mr. Agunsoye noted that the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) is the body saddled with the responsibility of fixing the revenue allocation formula for the distribution of funds to the three tiers of government. 
He noted that the formula currently in use for the allocation of funds from the federation account to the three tiers of government was enacted in 1982 and amended in 1992.
He expressed worry that the current formula, in operation for over 30 years and no longer reflects the realities facing the country as at now.
The lawmaker emphasised that failure to review the formula in line with contemporary realities, poses frequent financial threats and hardships in the fiscal relationship between the three tiers of government.

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