Babajide Sanwo-Olu, governor of Lagos state has called for a special status for Lagos over its “huge financial obligations” to the national coffers.
The governor made this remark on Monday at the opening of a two-day South-west zonal public hearing on the review of the revenue allocation formula organised by Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), in Lagos.
He said the review of the current revenue allocation formula is long overdue, as the prosperity of Lagos State directly or indirectly has its multiplying effect on the South-West region and the entire country as whole.
According to the governor, ” the best way to guarantee national progress and development is by paying attention to sub-national development because the national is a summation and a reflection of the sub-national.”
“Our demand is a sharing formula that is just, fair and equitable; reflecting the contribution of stakeholders to the common purse; and also one that enhances the capacity of state and local governments to deliver high-quality services and the full dividends of democracy to the greatest number of our people.”
“Lagos State is no doubt the nation’s commercial capital, and population center. The level of funding required to service the State’s social and public infrastructure is so significant that it will be difficult for the State to bear the burden for much longer under the present arrangement.”
“The call for a special status for Lagos is not a selfish proposition; it is in the best interest of the country and all Nigerians, for Lagos which accounts for about 20 per cent of the national GDP and about 10 per cent of the nation’s population to continue to prosper,” the Governor said.