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JAMB Economics 2006 Question 9

Question 9

Public Finance

The main source of government revenue in Nigeria is

  1. A.import duties
  2. B.rents and royalties
  3. C.company income tax
  4. D.capital gains tax
Show the answer and explanation

Answer: B (rents and royalties)

Explanation

Nigeria's government earns most of its revenue from crude oil, collected as rents and royalties from oil companies.