Agbakoba: Full Section 162 Could Unlock N15–20trn Annual Revenue for All Government Tiers

Dr Olisa Agbakoba of the OAL Centre for Petroleum Governance says Nigeria is forfeiting up to N20 trillion in revenue each year by not fully enforcing Section 162 of the Constitution. He spoke at a Lagos news conference on fiscal policy reform. Agbakoba proposed a constitutional amendment to ensure all revenues go into the Federation Account in gross, with costs and expenditures appropriated later by the National Assembly. If adopted, he argues this change would eliminate leakages at the source, reduce the debt burden, and free up funds for roads, hospitals and schools. His framework aims to make remittance and fiscal accountability binding and transparent.

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