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Rivers State Governor, Nyesom Wike, has called for the reduction of revenue accruable to the Federal Government.
Governor Wike, who was represented by his Deputy, Ipalibo Banigo, made the call at the public hearing on review of revenue allocation formula for South-South Zone, organized by Revenue Mobilization Allocation and Fiscal Commission, RMAFC, held yesterday in Port Harcourt.
He urged the RMAFC, to reduce revenue to the federation account by 40 percent and increase those of states and local government councils to 40 and 20 percent respectively.
The Governor noted that despite the changes that the country had been through in the past 29 years, it was regrettable that it has continued to use the 1992 revenue formula prescribed by the military.
