Senate Moves to Boost Federal Government’s Revenue Share

The Nigerian Senate has initiated a move to adjust the nation’s revenue-sharing formula, aiming to increase the portion allocated to the Federal Government.

Currently, the federal government receives just over half of the funds from the Federation Account, while states and local councils share the remainder. Lawmakers argue that a higher federal share is necessary to meet growing national obligations.

The proposed change, introduced in a bill by Senator Sunday Karimi, seeks to provide more resources for key priorities such as national security, infrastructure maintenance, and other central projects.

Supporters of the amendment believe the adjustment will help ensure that the federal government can adequately fund programs that benefit all Nigerians.

If passed, the bill will require approval from a majority of state assemblies, as it involves altering constitutional provisions governing revenue allocation.