Governor of Rivers State, Nyesom Wike has called for a new revenue-sharing formula in the country that will favour states.
He stated that more money should be allocated to the states of the federation to promote more development.
The Governor also insisted that Soku Oil Wells belong to Rivers, insisting that the revenue derived from the wells should be paid to the state.
Wike made this remark when he received a delegation of the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) on a courtesy visit at Government House, Port Harcourt on Tuesday.
He pointed out that the states bear more development burden and would require more money to cater to the needs of the people.
“There cannot be a federal government without the states. So, we advocate a new revenue formula that should take more revenue out of the federal government and given to the states.
“This is because the burden is more on the states than the federal government. So, the states should have more revenue to cater for the people,” he said.