LIST OF REASONS

INTRO : Statutory federal allocations to state government coffers in Nigeria are set to rise by 69 percent to N5.54 trillion in 2024, according report by The PUNCH . The 2024 approved budget indicates that states will receive N2.24 trillion more than the N3.3 trillion disbursed in 2023. The revenue distributed during the Federation Account Allocation Committee (FAAC) meetings to federal, state, and local governments primarily comes from oil exports, taxes, and other statutory allocations.  Revenue allocation generally refers to the distribution of centrally collected funds among different levels of government and within each level for economic purposes. According to Olowononi (2000), as cited in Dang (2013), revenue allocation involves not only the allocation of tax powers but also the arrangements for sharing revenue among the three tiers of government and among the state governments themselves. In Nigeria, revenue allocation is categorized into two types: vertical allocation and ...

INTRO:   The sharing of revenue among the three tiers of government in Nigeria has been a contested issue due to the political nature of the exercise. Several attempts made by various administrations to create an acceptable and all-embracing revenue allocation formula for the country are yet to achieve the target result.  We discussed the basics of revenue allocation in Nigeria under the subheadings below. Revenue Allocation Formula in Nigeria: Definition, Formula, History and Types  Meaning: Generally, revenue allocation means  how centrally collected money is shared among different levels of government and within each level for economic purposes. According to Olowononi (2000) quoted in Dang (2013) , revenue allocation is the allocation of tax powers and the revenue sharing arrangements not only among the three levels of government but among the state governments as well. In Nigeria, there are two types: vertical allocation, which involves distributing funds am...

INTRO: Substance abuse and drug abuse are used interchangeably. The two concepts are coterminous but not the same. To be clear,  every drug abuse is a substance abuse but not every substance abuse is a drug abuse. The word abuse features consistently in the two concepts nonetheless, and it has to do with excessive intake, and/or  use without prescription, and/or illegal use, and/or misuse of drugs or substances. I have often been tempted to saying that abuse has something to do with ABnormal USE. A great deal of verities of drugs and substances exist which can be abused such as: Alcohol (wine, gin, beer, whiskey), Prescription Medication (stimulants, sedatives, opioids, tranquillisers), Over-the-Counter (OTC) drugs (cough medicines, cold medicines, and motion sickness pills), Illegal Drugs (cocaine, methamphetamine, marijuana, anabolic steroids, heroine), Club Drugs (ecstasy, ketamine, rohypnol). The reasons for drug and substance abuse which are also considered the causes of...

INTRO : Aristotle said that man is a political animal. He said the truth. However, it is no less a truth that man is also an economic animal. Economics is a field of study, one of those that have attracted the definitional interests of scholars. A couple of the definitions will concern us here. In his magnum opus (greatest work) published in 1776, and titled, Inquiry into the Nature and Causes of the Wealth of Nations (Wealth of Nations for short), Adam Smith defined economics as an inquiry into the nature and causes of the wealth of nations. This is a way of saying that economics is a study which focuses on the nature of the wealth of nations, and the study of the things that make nations wealthy. This definition captures the economics of the state in a broad subject of political economy (macro-economics). But then, economics is more than that, including individual persons’ economics (micro-economics). The ability of Professor Lionel Robbins to capture the individuals in...