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Cross River governor asks RMAFC for better revenue allocation

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Governor of Cross Rivers State, Ben Ayade, has visited the Revenue Mobilization, Allocation & Fiscal Commission, Abuja where he sought better revenue allocation from the federation account to the state.

According to a press statement by the Special Adviser, Media and Publicity to the Governor, Christian Ita, “Ayade, who addressed the Commission’s Committee on Fiscal Efficiency & Budget, lamented Cross River’s poor financial status, which he blamed on the ceding of Bakassi Peninsula to Cameroon and the consequent transfer of the state’s 96 oil wells to Akwa Ibom state by the federal government.”

Ita quoted the governor as saying that “the twin actions of the federal government plunged Cross River state into severe financial crisis and untold hardship, leaving her helpless with the second smallest federal allocation in the country.

“The federal government was unfair to Cross River despite being responsible for her plight,’” and appealed to RMAFC to consider upscaling federal allocation to the state.”

Ita said the Governor used the occasion to highlight some projects embarked upon by his administration, including the ultra-modern rice seeds & seedlings multiplication complex, Cocoa processing factory, chicken processing factory, rice mill and noodles factory amongst others.

He also solicited the intervention of the RMAFC through the commission’s special fund for the development of natural resources, to enable the state to consolidate on the gains recorded, particularly in the area of agro-industrialization.

He said the numerous industries and critical infrastructure put in place by his administration were not only for the benefit of Cross River state but the entire nation as they are meant to create hundreds of thousands of jobs for the teeming youths, help further stimulate the economy and fight hunger and poverty.

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Responding, Chairman of RMAFC’s committee on Fiscal Efficiency & Budget, Adamu Shettima Yuguda pledged to “ensure fairness and equity in making sound recommendations to President Muhammadu Buhari.

The chairman who regretted the harsh predicament faced by Cross River State due to low allocation disclosed that the Commission’s Special Fund for the development of natural resources from where the state is seeking intervention “was established to help achieve resource diversification and provide an alternative source of revenue to oil, not only to the federal government but also the sub-nationals.”

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Akinola
Akinola
Akinola Olusegun is a blogger and publisher of this blog, money247.com.ng. You can also check out his other blogs : segtv.com.ng (videos & news), letgoonline.com.ng (e-commerce), letgoonline.com.ng/blog (news) among others. Follow him via any or all of his social media pages to get fresh posts update.
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