Ogun Moves to Correct 15-Year Revenue Allocation Gap in Strategic Meeting with RMAFC

Okubadejo Seeks Fairer FAAC Share by Updating Economic Data to Reflect Current Growth_

Abeokuta, May 19, 2026

Ogun State has begun a push to secure a more equitable share of federal revenue, as the Commissioner for Finance and Chief Economic Adviser, Hon. Dapo Okubadejo, met with a delegation from the Revenue Mobilisation Allocation and Fiscal Commission [RMAFC].

The RMAFC team, led by Federal Commissioner for Ogun State Hon. Akeem Amosun, is in the state to review, update, and verify economic data used in determining allocations from the Federation Account Allocation Committee [FAAC]. 

According to Hon. Amosun, the exercise is a statutory responsibility of the Commission but has not been conducted in 15 years. As a result, revenue allocation across states has continued to rely on outdated indices that no longer reflect current economic realities. He described the ongoing review as a critical window for Ogun State to correct existing imbalances by submitting accurate, up-to-date data for federal collation.

In his remarks, Hon. Okubadejo outlined Ogun’s economic progress under Governor Dapo Abiodun’s administration. He pointed to sustained growth driven by stronger Internally Generated Revenue [IGR], rapid industrial expansion, ongoing infrastructural development, and improved fiscal management.

These factors, he argued, position Ogun as one of the country’s leading subnational economies and justify a reassessment of its standing in the federal allocation formula. The state’s industrial base, proximity to Lagos, and investment in infrastructure have significantly increased its economic footprint since the last data update.

Why the Review Matters

Revenue allocation formulas that rely on stale data risk underfunding states experiencing rapid growth while over-representing those with stagnant economies. For Ogun, an updated assessment could translate into increased federal allocations, enabling further investment in infrastructure, education, and social services.

The meeting signals both sides’ commitment to data-driven fiscal federalism. The success of the exercise will depend on the accuracy and completeness of the data Ogun submits, and on RMAFC’s willingness to apply revised indices in the next allocation cycle.

If the review reflects Ogun’s current economic weight, the state stands to gain a fairer share of national resources to match its contribution to Nigeria’s industrial and revenue base.