Do not get carried away, who becomes your next Governor is equally as important as who becomes the next President. Governors get statutory allocation, Value Added Tax, Internally Generated Revenue (IGR), grants and loans running into hundreds of billion annually in your name.
Evidently, the prevailing revenue sharing formula shows substantial percentage is under the control of the State Governors, including the allocations to the LGAs. The federal government gets 52.68 per cent, the 36 states share 26.72 per cent while the 774 local government areas share 20.60 per cent every month.
The Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) only last year submitted a report to the President, which proposed a review of the sharing formula of 45.17 per cent for the federal government, 29.79 per cent for state governments and 21.04 per cent for the local governments.
Interestingly, most of the incumbent Governors will be leaving behind legacies of high indebtedness without commensurate development. According to the Debt Management Office (DMO), States borrowed about N5.4 trillion, 12.17%, out of the total public debt of the Country at N44.1 trillion, as at 30th September, 2022.
Therefore, no one should deceive you into believing that all our problems is being caused and should be solved by the President. When for instance, California, a sub-national State in America, led by a Governor, is at the verge of overtaking Germany, a country, as the 4th largest economy in the world.
Do not spend all your emotions, energy and focus only on the Presidential elections, this is because no President can succeed without the corresponding performance of the State Governors – many of whom are contributing immensely to our problems despite controlling huge percentage of our resources.
Lets engage, ask the right questions and hold the government accountable.