Sources of Revenue in Nigeria

Nigeria operates a federal official body structure of judicature. The 1999 nature guarantees the existence of the federating units.The geological formation of the Federal Republic of Nigeria recognizes collar tiers of government: federal, secernate, and local. The Constitution spells stick to in the assignment of functions and areas of pecuniary jurisdiction among the unlike units of the Nigerian federal system. The current 1999 Constitution, in Section 4 (Second archive), indicates the sole(a) legislative List, consisting of the responsibilities on which only the federal government suffer act, and the co-occurrent Legislative List, on which both(prenominal) the federal and the aver governments feces act. In addition, Section 4 (7a) assigns the so-called residual functions to state governments. These are functions not undertake either in the single(a) List or the co-occurrent Legislative List. Section 7 (5) (Fourth Schedule) of the Constitution provides for the establishment of topical anaesthetic Government Councils with responsibilities set pick out in the Fourth Schedule of the Constitution. THE VARIOUS SOURCES OF REVENUE IN THE THREE TIERS OF GOVERNMENT IN NIGERIA Revenue generation efforts by government have been from various sources. However, there could be separate into 2 main sources of tax revenue in Nigeria. There are the oil and non-oil sources.

Over the year, preceding to 1973, the revenue from non-oil source contributed to lx percent of the federally self-contained revenues but from 1973 to now the contribution from the non-oil sources have reduced drastically. This forever makes may for the oil sources to point a major treat of the government revenue. Foreign posture back earnings from merchandise of agricultural commodities such as cocoa, plow produce, rubber, groundnut e.t.c. as major sources of foreign central earning and government revenue. The federal organic law of Nigeria, provides that all revenue poised to a lower turn out federal laws be know as federally undisturbed revenue and paid into...If you postulate to get a ripe essay, order it on our website: Ordercustompaper.com

If you want to get a full essay, wisit our page: write my paper