Revenue Allocation Formula In Nigeria 2018

Imp lications for sustainable national.

Revenue allocation formula in nigeria 2018. Formula for distribution between the federal and state governments. Es i revenue allocated to a county on the basis of equal share factor. Establishment of federation account allocation committee and functions. The impact of revenue allocation formula of individual federating units on economic growth of nigeria.

It seems that despite all efforts no revenue allocation formula can serve as an ideal for nigeria. Federal states and local governments. The revenue mobilization allocation and fiscal commission rmafc has insisted that the revenue allocation formula currently in operation is legal. La i revenue allocated to a county on the basis of land area factor.

Fe i revenue allocated to a given county on the basis of fiscal effort. Revenue allocation on economic development of nigeria. The federation account allocation committee faac distributes revenues among the three tiers of government in nigeria. This followed recent media reports where it was alleged that the current revenue allocation formula is illegal on the grounds that it was never submitted to the national assembly by mr.

Chart of the day. Allocations under special funds. Revenue allocation in nigeria. Formula for distribution between local government councils.

The majority of problems come from the formula of revenue allocation. Thus it can conveniently be concluded that the vertical allocation formula is for inter tier sharing between the three tiers of government while the horizontal allocation formula is for intra tier sharing among the 36 states and the 774 local governments in nigeria. Revenue allocation formula among three tiers of government. Other studies such as aigbokhan 1999 jimoh 2003 emengini and anere 2010 akeem 2011 and usman 2011 carried out empirical studies on the effects of the level of decentralization of government activities including reve nue allocation on nigeria s economic development using.

Pi i revenue allocated to a county on the basis of poverty factor. Buoyed by increases in oil revenue statutory allocations to the three tiers of government rose by 36 percent to n1 9 trillion in the first quarter of 2018 q1 2018 from n1 4 trillion in the. Each ethnic and state group of individuals in nigeria has their own view of the ideal formula for revenue allocation. Under the current revenue sharing formula each month the federal government takes the major share of 52 68 from the federation account the 36 states get 26 72.

Revenue sharing formula in nigeria the revenue mobilization allocation and fiscal commission rmafc is charged with the duty of revenue sharing between the three tiers of government.