A Commissioner in the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC), Alhaji Saidu Fawu, has urged states and local governments to diversify their resource bases to reduce over-dependence on federal allocations.
Fawu, who represents Gombe State at the commission, said this when he addressed newsmen in Gombe on Saturday.He spoke on the forthcoming August 19, North East zonal advocacy workshop with the theme, “Economic Diversification and Enhanced Revenue Generation.”
He said it was unwise for the country to continue to depend on revenue from oil, which he said would dry up one day.
According to him, Nigeria has over the years depended on oil as the main stay of revenue shared monthly as revenue allocation.
“It is a very risky business, and we feel there is the need for Nigeria to diversify so that we pay less attention on the dependence on oil and gas. Oil and gas cannot continue forever. The oil market is becoming more and more hostile,’’ he said.
He said three ministers, six governors, members of the National Assembly from the zone and other critical stakeholders were expected at the workshop.
Fawu said the workshop was the last in the series organised by the commission at the zonal level, adding that it had been held in other zones. Asked if there was special provision for states facing security challenges, he said such interventions fell under the 7.5 per cent Special funds allocation formula.
He said that Gombe State made a case for assistance to cater for the ‘’population explosion’’ caused by those displaced in Adamawa, Borno and Yobe, now under the emergency rule. Fawu appealed to all stakeholders to attendance and participate in the two-day workshop to enable them to make input before the final report to government.
Information from Vanguard was used in this report.