Revenue Allocation Formula In Nigeria 2019

New york aug 07 2019.

Revenue allocation formula in nigeria 2019. Senior advocates of nigeria 1975 2019 past chief justices of supreme court of nigeria. In summary the variables of this study that is real gdp revenue allocation to federal government revenue allocation to states and revenue allocation to local governments have a long run relationship among them for the period 1993 to 2012 in nigeria. Frankly the extant allocation formula is grossly unfair mainly to the states from where the bulk of the revenue is generated but who collect a pittance every month when the federal government. Reports say that the federal government has therefore resolved to engage the 36 state governors and the.

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. Summary of gross revenue allocation by faac for the month of january 2019 shared in february 2019 2 distribution of revenue allocation to fgn by faac for the month of shared in february 2019 january 2019 4 abia adamawa akwa ibom anambra bauchi bayelsa benue borno cross river delta ebonyi edo ekiti enugu gombe imo jigawa kaduna kano katsina. 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. Revenue allocation on economic development of nigeria.

Nigeria revenue sharing formula. January 18 2019 isaac umunna comment 0 the adoption of a new minimum wage of n30 000 has necessitated the review of the national revenue sharing formula as demanded by state governments. Formula for distribution between the federal and state governments 1 the 56 00 per cent specified in section 1. States local councils to get more funds says rmafc.

Revenue allocations have a causal. This is consistent with the study of jimoh 2003. 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. Similarly the 13 federally collected revenue from oil and gas is reimbursed to the oil producing states as.

In the current revenue allocation formula the federal government gets 52 68. The current revenue allocation formula which was designed during the administration of ex president olusegun obasanjo recommended that the federal government gets 52 68 while the states and local governments will receive 26 72 and 20 60 of the total amount respectively. Nigeria to review revenue allocation formula.