Nigerian Senate Moves to Increase Federal Government's Allocation Amid Rising Costs

The Nigerian Senate has initiated a move to increase the allocation of funds to the Federal Government amidst concerns over rising national expenses. Currently, the Federal Government receives 52.68% of the nation's revenue, while states receive 26.72% and local government councils receive 20.60%.

Senator Sunday Karimi, representing Kogi West, introduced a bill seeking to amend the revenue-sharing formula to favor the Federal Government. The proposed amendment aims to address funding gaps at the federal level, particularly for security operations and infrastructure maintenance, due to the outdated and unsustainable revenue-sharing formula.

The bill highlights the need for increased funding to improve the country's security apparatus and tackle issues like banditry and terrorism. The proposed amendment will undergo further legislative scrutiny before potentially being approved by the National Assembly.