Review allocation formula before removing fuel subsidy – Tinubu

Action Congress of Nigeria (ACN) national leader, Asiwaju Bola Tinubu yesterday asked the Federal Government to obey the five-year review of revenue allocation formula in line with the Constitution as a pre-condition for removal of oil subsidy.

Speaking at the Ekiti State Government House Complex in Ado-Ekiti after attending a church service in honour of Governor Fayemi administration’s one year anniversary, Tinubu said the Federal Government should recognise population migration, population increases and shifts in population constituents that affect responsibility, particularly at the state level.

The former governor, who said that interest of the masses should be protected despite any urge on the part of the Federal Government for changes in the economy, noted that “people are the cornerstone of any economic and political policy. If you don’t do that then you are misplacing your priorities”.

Tinubu said: “Population migration, population increase, especially in school enrolment, those who were not 18 some years back who are now graduates and require various facilities, all affect changes in governmental responsibilities.

“First of all, you should not put the cart before the horse. The Federal Government will have to determine all of that and submit itself to a new revenue allocation formula before any discussion of subsidy.