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JAMB Economics 2001 Question 40

Question 40

Public Finance

In Nigeria, revenue sharing from the Federation Account is between the

  1. A.executive, the judiciary and the legislature
  2. B.federal and state governments and the parastatals
  3. C.federal and state governments and the senate
  4. D.federal, state and local governments
Show the answer and explanation

Answer: D (federal, state and local governments)

Explanation

Money in the Federation Account is shared among the three tiers of government: federal, state and local governments.