If elected as the next president, Asiwaju Bola Tinubu, the All Progressives Congress (APC) presidential candidate in the general elections of 2023, has pledged an increase in the income accruable to state governments.
In his "Renewed Hope" campaign action plan, which was made public in Abuja on Friday, Tinubu made the pledge.
One of his recommendations for closing the development gap between the federal government, the 36 state governments, and the Federal Capital Territory was to take this action (FCT).
The programme would speed up development in rural areas across the nation, Tinubu also said, according to the document.
‘’The allocation of revenue between the federal and state governments will be adjusted to give greater flexibility to foster grassroots economic developments, ‘’ he said.
The News Agency of Nigeria (NAN) reports that under the current sharing arrangement, the Federal Government takes 52.68 per cent of the revenue shared, states get 26.72 per cent, while local governments get 20.60 per cent.
Under his economic blueprint, Tinubu also proposed fiscal activeness, which includes anti-corruption, prudence, open governance and mutual trust between government and the governed.
He also promised to reduce drastically the overdependence on crude oil earnings and over-exportation of other raw materials capable of growing local industries.
‘’We will improve on existing industries and sectors. We will be brave and innovate enough to see how new economic visitors powered by today’s technology can create jobs and provide goods and services that will propel us towards greater prosperity and development.
‘’We will build an economy that produces more of the everyday items, both agricultural and manufactured goods, that define an individual’s and a nation’s standard of living,’’ he said.