Abstract
The paper reviewed the nature of financial relations among the three tiers of government in Nigeria. It was identified that revenue allocation in every federation is a problem; as such each federation adopts its own strategies to contain the imbalance. It was discovered that several attempts were made, yet the problem still persists. This is because most federating units depend largely on the federal Account. Among the recommendations were review of the relevant sectoring of the constitution and creation of units of government should be based on viability rather than political consideration.
Highlights
In Nigeria, the problem which has defiled all past attempts at permanent solution and a tendency for evoking high emotions on the part of all concerned each time it is brought forth for discussion or analysis, is the issue of revenue allocation. This is an issue that bas been politicized by successive administrations in Nigeria whether civilian or military
The nature and conditions of financial relations in federal systems that of Nigeria which has transfixed on a multi-ethnic society is crucial to her continuing existence
Olopoenia (1998) opine that, since the oil boom in the early 1970s, the revenue allocation formula has been bedeviled by inconsistencies, a tendency of one of the parties in the consensual agreement to change the terms after the negotiations have been completed
Summary
In Nigeria, the problem which has defiled all past attempts at permanent solution and a tendency for evoking high emotions on the part of all concerned each time it is brought forth for discussion or analysis, is the issue of revenue allocation. Allotments of money (resources) must reflect social and economic conflicts between classes and groups. It is not surprising that, the basis of federal statutory revenue allocation has always been one of the most contentious and destabilizing factors in the Nigerian polity. Http://www.granthaalayah.com ©International Journal of Research - GRANTHAALAYAH [187]
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