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JAMB Economics 1992 Question 40

Question 40

Public Finance

An account from which allocations are made to the three tiers of government in Nigeria is called the

  1. A.National Income Account
  2. B.Public Sector Account
  3. C.Federation Account
  4. D.National Revenue Mobilization Account
Show the answer and explanation

Answer: C (Federation Account)

Explanation

Federally collected revenue is paid into the Federation Account and shared among federal, state and local governments.