passwella.
Menu

JAMB Economics 1978 Question 22

Question 22

Public Finance

The biggest source of government revenue in Nigeria is

  1. A.mining rents and royalties
  2. B.company income tax
  3. C.import duties
  4. D.export duties
  5. E.petroleum profit tax.
Show the answer and explanation

Answer: E (petroleum profit tax.)

Explanation

Since the oil boom, petroleum profit tax paid by oil companies has been Nigeria's largest single source of revenue.