The Minister of finance, Mrs Kemi Adeosun has hinted that the President Muhammadu Buhari led administration may scrap the disbursement of the federal government monthly allocations to states and local government soon.
The Minister disclosed this at a meeting organized by the revenue allocation mobilization and fiscal commission at the federal capital territory recently.
According to Adeosun state allocation will be based on the amount generated by each state of the federation.
Speaking during the meeting the minister who decreed the fall of allocations from federal government from 9 billion in 2014 to 2 billion in 2016 said states that are not tax based like Lagos will have to look for alternate means to internally generated revenue.
The minister urged all states to show transparency in financial dealings by publishing statement of accounts also said that the days of sharing money with states are over for good.
