A Bill seeking an upward review of the Federal Government’s share in the existing revenue allocation formula yesterday passed its first reading at the Senate.

In the current revenue sharing formula, the Federal Government is allocated 52.68 per cent, states receive 26.72 per and local governments 20.60 per cent.

However, notwithstanding the disparity amongst the three tiers of government in the allocation formula, the Senate, through a bill sponsored by Sunday Karimi (Kogi West) wants more revenue for the Federal Government.

Speaking to journalists on the intent of the Bill, Karimi explained that the proposed legislation basically seeks to rescue the Federal Government from grossly inadequate revenue to enormous responsibilities to the citizens.