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Pass New Revenue Allocation Bill -Tinubu Lagos State Governor Bola Ahmed Tinubu has called on the National Assembly to urgently pass a new revenue allocation bill into law as a way of ensuring strict adherence to fiscal federalism. Tinubu, who made this call while delivering the keynote address at the 3rd Annual Public Finance Lecture organised by the Finance Committee of the State House of Assembly, noted that the survival of democracy depends on the extent of adherence to a fiscal regime that is equitable and just. While lambasting the Federal Government for keeping excess crude as savings in the face of high inflation and disintegrating infrastructure, Tinubu said each state should have a right to determine its own fortune by being given its dues. He said as a trustee of the 36 states that makes up Nigeria, the Federal Government is only entitled to its various recurrent budget outlays while capital votes are held in trust. He urged the Revenue Mobilisation Allocation and Fiscal Commission to look into activities of the Education Tax Fund, saying its decision to embark on such projects as rehabilitation of schools is anti-transparency and the surest route to corruption. Delivering his lecture, Hanmman A Tukur, the Commission's chairman, noted that Nigeria's debt profile puts at N32.9 billion had assumed an alarming and worrisome dimension since a vicious cycle of perpetual debt involving interest payments and penalties is emerging. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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