Governors under auspices of the Nigerian Governors Forum (NGF) have described as worrisome, the huge unconstitutional deductions by the Federal Government from the Federation Account in spite of the increase in pump price.
The governors also reiterated their demanded for an increase to their share of the revenue allocation formula from 26 percent to 42 percent.
The current revenue allocation formula stands at? Federal Government (52%); States (26.72%); and Local Governments (20.60%).
But rising from their meeting on Wednesday in Abuja, the governors asked for a raise in the income they receive from the nation’s purse.
In a communiqué signed by its chairman, who is also the governor of Rivers State, Governor Rotimi Amaechi, the governors said the continuous unconstitutional deductions by the Presidency from the Federation Account negates the principle of federalism.