Revenue Allocation Formula and Its Impact On Economic Growth Process In Nigeria

Abstract

This study attempts to analyze the impact of allocation formula on the Nigeria growth process. The analysis reveals the extent to which revenue allocation formula adopted in the past has affected the path of economic growth and development in Nigeria. The data is purely secondary data and was sourced from the world bank publication, CBN, Journal and other published and unpublished materials.

There is need, therefore to address the problem by formulating a move efficient revenue allocation wastage and mismanagement of founds. Also effort should be geared towards articulation of policies that will enhance capital formulation, employment of the abundant and measures may include attachment of more weight to the share of local government from the federal collected revenue, placing more emphasis on the internal revenue generation, redefinition of the concept of definition and sustaining the present effort of government as regards budget monitoring and implementation.