In its chequered historical journey, revenue allocation has remained a central theme for various fiscal commissions and committees set up by either the military or civilian governments in nigeria beginning from the phillipson fiscal commission of 1946 to the okigbo commission of 1980 and recently, the. Finance minister, dr ngozi okonjo-iweala, has listed nigeria's 10 highest revenue receiving states based on the federal allocations in 2013 internally generated revenue in lagos stays in lagos and i think lagos pays tax to the federal government while the revenue generated from oil wells in the. Energy information administration - eia - official energy statistics from the us government. Title: revenue allocation formula per-independence nigeria introduction nigeria is africa's leading a case in point is the philipson commission of 1946 whose formula was difficult to implement because landmass oil economy and the revenue allocation debacle in nigeria as an observable dynamics. The solow-swan model is an economic model of long-run economic growth set within the framework of neoclassical economicsit attempts to explain long-run economic growth by looking at capital accumulation, labor or population growth, and increases in productivity, commonly referred to as technological progress.
Essay working on an essay's structure and content can be time consuming this is exactly what our prewritten essay library is for - make the whole process easier by providing you ideas and inspiration. 4 the revenue allocation formula vertical allocation formula beneficiary allocation allocation formula old indices oct 06 - nov 2013 new indices from nov 2013 local government an analysis of the federal budgeting process in nigeria. Introduction revenue allocation in nigeria, a central theme in government has a chaquered historical antecedent it is worthy of note that all the commissions/committees listed above were adhoc in nature except for the revenue mobilization allocation and fiscal commission which was established.
The lawmakers said the formula presently in use for allocating funds from the federation account to the federal, state and local governments is section 162 (2) of the constitution requires the president, on recommendation of rmfac, to submit a proposal for a new revenue allocation formula, in line. This study empirically examines the impact of revenue allocation on economic development in nigeria specifically, the study looks at how the various revenue allocations to the three tiers of government affect real gross domestic product (rgdp) in. Components of revenue allocation formula in nigeria the vertical and horizontal formulae:- fundamentally, there are two components of the revenue allocation formula used for the disbursement of the federation account as indicated here under. Revenue allocation principle since independence from the onset nigeria comprised of the north protectorate,south protectorate and lagos colonysir egerton govnor of lagos colony and high commission of southern protectoratebrought the suggestion of the amalgamation between lagos. Evaluate the revenue allocation formula in nigeria since 1946 to 2013 revenue allocation formula in nigeria introduction prior to the discovery of oil in nigeria, other sectors of the economy thrived.
Revenue allocation formula in nigeriatop-up degrees(entry to year 3 uk universities)acceptance to a university programme is at the discretion of the individual universitytop-up degrees are of one year duration, entering onto the final year of the full time undergraduate ba / bsc honours degrees. Revenue is the total price gained by a given source revenue is reported to the government periodically and the government collects revenue through taxes area of a cylinder formula calculator revenue problems back to top. Since independence, the revenue allocation formulas have witnessed a number of adjustments, with the derivation percentage coming down as low as 15% of some total revenue, but in 1995, attaining a height of. The oil and gas industry is one of the largest and most important segments of the us economy due to the size and complexity of the industry, some basic examination guidelines are needed to assist examiners.
The nhs was established on 5 july 1948, with the aim of providing a comprehensive range of health services to all uk citizens, financed by general taxation and free at the point of use. (a) the national assembly shall make provisions for statutory allocation of public revenue to local government councils in the federation and (b) the house of assembly of a state shall make provisions for statutory allocation of public revenue to local government councils within the state. P&g has been paying a dividend for 127 consecutive years since its original incorporation in 1890 and has increased its dividend for 61 consecutive years over the past five years, the dividend has increased at an annual compound average rate of 5.
Gallery custom vehicle car wrap fort lauderdale miami palm beach. Real gdp per capita is a measurement of the total economic output of a country divided by the number of people and adjusted for inflationit's used to compare the standard of living between countries and over time. The present revenue allocation formula has been in operation before the commencement of this democratic dispensation in 1999 and there is no extant act of the national assembly accepting the present revenue allocation formula which means the formula in use is unconstitutional.
This includes include the revenue allocation formula and the so-called resource control question revenue allocation in nigeria, a central theme in government has a chequered historical antecedent many commissions/committees have been set-up at different times in the nigeria national history. Find the latest nigeria and world news and analysis, headlines, blogs, pictures and videos about revenue allocation formula from todayng. Evolution of nigeria's revenue allocation formula in this part, i have relied heavily on the work of lukpata (2013), as there is no need reinventing the wheel professor ojetunji aboyade commission (1978.