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RMAFC Presents New Revenue Formula, Dec

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The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has said the new revenue allocation formula will be presented to President Muhammadu Buhari by the end of 2021.
The Chairman, Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Engr. Elias Mbam, made this disclosure, yesterday in Abuja at a briefing on the proposed new revenue allocation formula.
Mbam assured that “the new formula will meet yearning and expectations of three tiers of governments”.
The RMAFC chairman noted that “the formula which is being reviewed is targeted at equitable distribution of the accrued revenue into the Federation Account to the three tiers of government and this will be concluded before the end of 2021”.
Some of the reasons for embarking on the proposed new revenue formula, Mbam said, include, “the political structure of the country has since changed with the creation of six additional states in 1996, which brought the number of states to 36. Correspondingly, the number of Local Governments also increased from 589 to 774.
“There have been some considerable changes arising from the policy reforms that altered the relative share of responsibilities of the various tiers of government, including the, controversies over funding of primary education, primary health care etc.
“Inadequate/decaying infrastructure and heightened widespread internal security challenges across the country. Ecological challenges like global warming, desertification, flooding and population explosion; and
“Inability of the current vertical formula to adequately address the apparent mismatch between statutorily assigned functions and tax powers of each of the three levels of government.”
Mbam said the current vertical revenue formula being used by the three tiers of government was reviewed and passed into law 28 years ago.
The age of the revenue formula in use, he said, has made it imperative for a new revenue formula “for these various reasons”.

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4 Professors, 2 SANs Unveil Book On FUBARAISM …Commend Rivers Gov’s Dev Strides

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The Rivers State Governor, Sir Siminalayi Fubara, has been commended for his developmental initiatives aimed at transforming the development needs of the state.

 

To this end, a group of academics, known as League of Niger Delta Researchers for sustainable development has unveiled a book christened “Fubaraism” to appreciate  his boldness to deliver the dividends of democracy in the state despite the godfatherism intrigue that disrupted governance in the state .

 

The group however stressed  that godfatherism can jeopardize development of the state and across country at in general.

 

“This is a groundbreaking research book titled ‘Fubaraism: The New Philosophy of Power Dynamics in Rivers State.’ This ongoing research project, undertaken by distinguished academics from various universities within the Niger Delta region and beyond, aims to fortify the fight against Godfatherism.”

 

This  book  authored by four  academic  professors and two Senior Advocates of Nigerian(SANs) which include Prof. Protus Nathan Uzorma; Prof. Francis C. Dike, SAN; Prof. Christopher Okereke; Prof. Preye Inikoba; Prof. John Ben; Barr. Ngozi Olieh, SAN; and Dr. Sunday Adiele.

 

Speaking at the unveiling of the book recently, Prof. Protus Nathan Uzorma, of the University of Uyo and the Director General of the group said they had conducted an extensive survey of public opinions and found that Governor Fubara’s approach, as encapsulated in the concept of Fubaraism, was yielding positive results.

 

“We believe that this innovative philosophy of power dynamics has significant implications for political philosophy in Nigeria.

 

“We commend Governor Fubara for his unwavering commitment to delivering democracy dividends to the people of Rivers State, despite various challenges. The book explores the risks involved in doing the right things and achieving better outcomes in the  State.”

 

He said that their research group, formerly known as the League of Niger Delta Researchers for Sustainable Development, had evolved into the Federation of Researchers for Sustainable Development in Nigeria.

 

According  to him, “this change in name has not altered our core function – serving as watchdogs for the society.”

 

He stressed  that they were confident that Fubaraism would revolutionize the way things were done in Nigeria, promoting a more equitable and just society for all.

 

“The publication of Fubaraism” is a significant milestone in the academic discourse on power dynamics in

Nigeria. The book’s innovative approach to analyzing power relationships and its introduction of the concept of ‘Fubaraism’ is likely to generate considerable interest and debate among scholars and policymakers.

 

“As a major contribution to the field of Political Science and Philosophy, ‘Fubaraism’ is poised to become a seminal work that will shape the discussion on power dynamics in Rivers State and beyond”.

 

Amadi Akujobi 

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Mayor Of Housing Wins Man Of The Year Award 

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My-ACE China, known as the Mayor of Housing, has won the 2024 Man of the Year. The award was announced by board of trustees of the DMOMA Awards Academy in Port Harcourt at the week.

The organisers also declared his company, the Construction and Housing Mayor Limited as the brand promoter of the year, the third in a row.

The award ceremony which was held at the Arena Event centre in the GRA area of Port Harcourt was attended by several dignitaries in the society.

The organisers led by Dr. Ezebunwo Nyeche (chairman) and Stephen Chidiebere Okoye (Awards organizer) said in a statement that China was picked for his support and impact to small and medium enterprises in Rivers State, his media footsteps and his consistent propagation and promotion of Rivers State.

They noted that China won over 10 prestigious awards in 2024 alone on his track to promote Port Harcourt as a brand destination and Rivers as a peaceful state.

Handing the award to China, the organisers said the Mayor of Housing always comes to the rescue of events that aim to promote Rivers State, saying the DMOMA Awards would be held in two more cities in 2025.

Responding, Mr China said there is need for more sponsorship of talents in Port Harcourt and the Niger Delta, saying what they lacked was support.

“There is more talent in Port Harcourt but there is more support in Lagos to artistes than in Port Harcourt. So, the top talents in Port Harcourt work 10 times harder than those in Lagos to attract sponsorship.”

He also said Nigeria has a treasure base which is Port Harcourt but that the treasure is not oil and gas but talents. He said he was highly elated to win the of Man of the Year Award with his firm winning brand of the year.

In an interview, My-ACE China said he was particularly impressed with the diligence demonstrated by the organisers and the processes they used to pick winners every year.

He also said the victory showed attention paid by the organisers to unveil the personality behind the corporate masquerade, not just focusing on the company. “It actually reaffirms one of my quotes that a brand can only grow as big as the character of the visioner behind it.”

On his plans to help Port Harcourt compete with Lagos, China said 2025 will meet him doing things with the youths of Rivers State to push the Port Harcourt brand in the social media and rally the traditional press to create a positive narrative of Rivers State beyond violence and political negativity.

“The Garden City has not been enjoying the best of media perception for some years now but this is the first time we have a governor committed to non-political bias in doing his work. He does not consider whether you are a member of his party or not before doing what is right. For the first time, we have a true father of the state to all, and he has been diligently following the blueprint that stakeholders developed at the last Rivers Economic and Investment Summit, making sure he is doing it without political cronyism.”

He said his company would be building the biggest estate and the best, the ‘Alesa Sustainable Smart City, to move from brand perception to brand experience so as to move Rivers State to the next level.

He appealed to entrepreneurs not to be carried away by the old perception but to join the new way. “Position yourself because there is going to be a boom. People are rushing into Port Harcourt and new entrants may take the ground. Think expansion not contraction, think investment not divestment. Else, you miss it.”

 

To fellow estate investors, he admonished them to gear up for regulation. “It is no longer going to be business as usual especially for land peddling and land grabbing. Try to grow up because tangible development is going to take over.

“It is no longer going to be who sells the most land but who develops the most houses. The housing deficit in the land requires effective land development strategies. Any serious land seller should grow into a housing developer because developments are going to be coming into Rivers State and a lot of people are coming into the state.”

He said those that have grown to be developers will be many times richer than those that are just starting or are mere land sellers and peddlers. People should also position themselves because all the foreign investments and local ones will take advantage of this influx.

“The value of influx is coming, so prepare and take advantage.  Be one of those that are big enough to take advantage. Remaining small will not be good but grow big in your products, in your services, because the market is going to grow big.”

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FUBARA MOURNS FORMER RIVERS GOV

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Rivers State Governor, Sir Siminalayi Fubara, has expressed shock and sadness over the death of a former military governor of the State, Major-General Godwin Osagie Abbe (rtd).

Late Abbe, who hails from Edo State, was military governor of Rivers State between August, 1990 and January, 1992.

Governor Fubara described late Gen Abbe as one leader who dedicated himself to the service and wellbeing of Rivers people and humanity during his administration in the State, saying that the death of the distinguished military officer, politician and administrator was a very huge loss to the State, the Niger Delta, and indeed, the entire country, having traversed the length and breath of the nation in the cause of his military and political careers.

“On behalf of my family, the Government and good people of Rivers State, I condole with the family of the Abbes, the Edo people, and the Nigerian military on the demise of this colossus, whose contributions to the unity, peace and development of the nation are legendary.

“While we mourn his painful exit at this difficult time, we pray for the eternal repose of his soul, and urge the family to take solace in the fact that late Gen Abbe lived a fulfilled life in the service of his fatherland.”

 

 

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