#TheYorubaAgenda ISSUE 4 TAXATION SYSTEM/FISCAL FEDERALISM Recommendations Since 1994, The Yoruba have always advocated the ideal resource management system for a true federation i.e. Fiscal Federalism/Resource Control, a system whereby a substantial part of the proceeds accruable from every region will be domiciled in the region and an agreed percentage contributed to the center by the federating regions for the responsibility of the Federal government. However, as a result of gross mismanagement of the country, its human and natural resources, the ideal which is resource control cannot evolve by fiat, as most natural resources of Nigeria, except Oil and Gas, have been neglected and underdeveloped over the years. We are therefore recommending a transition period of not less than ten years for maintenance of the status quo to allow for allocation of an agreed percentage of national revenues to the regions to enable them develop and exploit resources within the region in the hope that at the expiration of the transition period full resource control may be adopted.
Posted on: Sat, 22 Mar 2014 19:07:33 +0000