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ALLOCATION OF REVENUE (FEDERATION ACCOUNT, ETC.) ACT
ARRANGEMENT OF SECTIONS
SECTION
1. Distribution of the Federation Accounts, etc.
1 Formula for distribution between the Federal and State Governments.
1 Formula for distribution between Local Government Councils.
1 Proportion of revenue to be paid by each State to Joint Local Government Account.
1 Allocations under special Funds.
1 Establishment of Federation Account Allocation Committee and functions.
1 Establishment of Joint Local Government Account Allocation Committee for each State and functions.
1 Limit on power of State Governments for borrowing money.
1 Report by Accountants-General in the Federation.
1 Interpretation.
11. Short title.
An Act to prescribe the basis for distribution of revenue accruing to the Federation Account between the Federal and State Governments and the Local Government Councils in the States; the formula for distribution amongst the States inter se; the proportion of the total revenue of each State to be contributed to the State Joint Local Government Account; and for other purposes connected therewith.
[1982 No.1.] [Commencement] [22nd January, 1982] 1. Distribution of the Federation Accounts, etc.
The amount standing to the credit of the Federation Account, less the sum equivalent to 13 per cent of the revenue accruing to the Federation Account directly from any natural resources as a first line charge for distribution to the beneficiaries of the derivation funds in accordance with the Constitution shall, be distributed among the Federal and State Governments and the Local Government Councils in each State of the Federation on the following basis, that is to say-
(a) the Federal Government 56.00 per cent;
(b) the State Governments 24.00 per cent;
(c) the Local Government Councils 20.00 per
ALLOCATION OF REVENUE (FEDERATION ACCOUNT, ETC.) ACT
ARRANGEMENT OF SECTIONS
SECTION
1. Distribution of the Federation Accounts, etc.
1 Formula for distribution between the Federal and State Governments.
1 Formula for distribution between Local Government Councils.
1 Proportion of revenue to be paid by each State to Joint Local Government Account.
1 Allocations under special Funds.
1 Establishment of Federation Account Allocation Committee and functions.
1 Establishment of Joint Local Government Account Allocation Committee for each State and functions.
1 Limit on power of State Governments for borrowing money.
1 Report by Accountants-General in the Federation.
1 Interpretation.
11. Short title.
An Act to prescribe the basis for distribution of revenue accruing to the Federation Account between the Federal and State Governments and the Local Government Councils in the States; the formula for distribution amongst the States inter se; the proportion of the total revenue of each State to be contributed to the State Joint Local Government Account; and for other purposes connected therewith.
[1982 No.1.] [Commencement] [22nd January, 1982] 1. Distribution of the Federation Accounts, etc.
The amount standing to the credit of the Federation Account, less the sum equivalent to 13 per cent of the revenue accruing to the Federation Account directly from any natural resources as a first line charge for distribution to the beneficiaries of the derivation funds in accordance with the Constitution shall, be distributed among the Federal and State Governments and the Local Government Councils in each State of the Federation on the following basis, that is to say-
(a) the Federal Government 56.00 per cent;
(b) the State Governments 24.00 per cent;
(c) the Local Government Councils 20.00 per