Abstract
This article is descriptive in nature and it tries to ascertain the variousformulas used by federal government of Nigeria to allocate Revenue from federation account and their socio-economic impact on the states and local government councils. Primary and secondary data were adequately made use of in the study. Analysis was done using simple percentages in tables, graphs and statistical tests by use of students T-Test and correlation co-efficient. Major findings in this study include; the socio-economic status of the states and local councils are not significantly influenced by the level of Revenue accruing to them from the federation account; Interest to share in the Revenues accruing to states from federation account has a strong influence on the demand for new states. Moreover, Revenue allocation has been a very contentious issue and a source of worry to every government in Nigeria. The recommendations in this study include; Since higher amounts of Revenue from federation account has not guaranteed higher socio-economic status of the States, other alternatives for improving the socio-economic status of the states should be encouraged; Diversification of Nigerian economy may allay the fear on resource control and reduce the level of dependence on federation account.
Published Version (
Free)
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
