Arrange the following post-independence fiscal decrees and legislative acts regarding revenue allocation in Nigeria in chronological order, from earliest to latest.
- 1Decree No. 15 of 1967, which adjusted regional revenue allocation formulas to accommodate the newly created twelve states
- 2Decree No. 6 of 1975, which reduced the derivation share of mining rents and royalties to 20% into the Distributable Pool Account
- 3The Allocation of Revenue Act of 1981, which established statutory percentage allocations among federal, state, and local government tiers
- 4Decree No. 49 of 1989, which formally established the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) as a permanent constitutional body
Cevap
The correct chronological sequence of post-independence fiscal laws and decrees is: Decree No. 15 of 1967, followed by Decree No. 6 of 1975, followed by the Allocation of Revenue Act of 1981, and ending with Decree No. 49 of 1989.
The correct timeline begins with Decree No. 15 of 1967 (re-allocating funds across 12 states), followed by Decree No. 6 of 1975 (reducing derivation share to 20%), then the Allocation of Revenue Act of 1981 (establishing Second Republic statutory shares), and concludes with Decree No. 49 of 1989 (establishing RMAFC as a permanent body).
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Anahtar Kavram
Chronological evolution of legislative decrees and statutory acts governing Nigerian fiscal federalism.
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