Nigeria First (Abuja)
10 August 2007
Abuja — In furtherance of his administration's commitment to the rule of law, President Umaru Musa Yar'Adua has said that the interpretation of the Supreme Court on its decisions regarding the operation of the Federation Account, which is being awaited, will be obeyed by the Government.
The President stated this while speaking after the Revenue Mobilisation, Allocation and Fiscal Commission briefed him on its activities, on August 10 at the State House in Abuja.
He said "as a young democracy, we have to adhere to the rule of law, so we shall wait for the interpretation of the Supreme Court judgement and obey it".
According to him, different people would interpret laws differently, but added that with more practise, understanding and consensus would be reached about the meaning of our laws.
President Yar'Adua directed that a meeting, under his chairmanship, to be attended by the Vice President, Finance Minister and relevant officials, with the executive committee of the Commission to discuss all issues related to its functions and activities be convened within seven days.
Chairman of the RMAFC Engr. Hamman Tukur, had earlier, briefed the President about the nation's Revenue Allocation Formula, the Federation Account, fuel subsidy and the need for diversification of the economy.
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