JAMB UTME - Economics - 2001 | Green Bridge CBT

In Nigeria, revenue sharing from the federation Account is between the?

executive, the judiciary and the legislature

federal and state governments and the parastatals

federal and state governments and the senate

federal, state and local governments

Antwortdetails

In Nigeria, revenue sharing from the Federation Account is between the federal, state, and local governments. The Federation Account is a special account where all revenue collected by the Federal Government is deposited, and then shared among the three tiers of government based on a formula. This formula is determined by the Revenue Mobilization Allocation and Fiscal Commission (RMAFC), which takes into consideration factors such as population, equality, land mass, and revenue generation capacity. The federal government receives the largest share, followed by the state governments, and then the local governments. This revenue sharing arrangement is aimed at promoting equitable distribution of resources and promoting development at all levels of government.






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