Which of the following are sources of revenue to state government in Nigeria? I Statutory allocation II Fines from customary courts III Petroleum tax IV Inc...

Answer Details

The sources of revenue to state government in Nigeria are: 1. Statutory allocation: This is the money allocated to states from the federal government's revenue. It is shared based on a formula that takes into account factors like population, landmass, and internally generated revenue. 2. Fines from customary courts: This is the money collected as fines from customary courts. Customary courts are traditional courts that handle cases involving customary law, such as disputes over land, marriage, and inheritance. 3. Petroleum tax: This is a tax imposed on companies that operate in the petroleum industry in Nigeria. The tax is based on the profits earned by these companies from their operations in Nigeria. 4. Income tax: This is a tax imposed on the income earned by individuals and companies in Nigeria. It is collected by the federal government but shared with the states based on the revenue allocation formula. Therefore, the correct options that are sources of revenue to state government in Nigeria are I and IV, which are Statutory allocation and Income tax.