An account from which allocations are made to the three tier of government in Nigeria is called the?

Assessment: JAMB UTME - Economics - 1992 Subject: Economics

Question 1 Report

An account from which allocations are made to the three tier of government in Nigeria is called the?
Answer Details
The account from which allocations are made to the three tiers of government in Nigeria is called the "Federation account." It is a special account created by the Nigerian government where all revenues generated from natural resources, taxes, and other sources are deposited. The funds in the account are then shared among the Federal, State, and Local Governments based on a formula agreed upon by all the parties involved.
Read lesson note on National Income (WAEC)
Read lesson note on Public Finance (WAEC)
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