EFFECT OF VITAMINS C AND E INTAKE ON BLOOD ... - EuroJournals

International Research Journal of Finance and Economics – Volume 2, Number I (2006)
the twin objectives of equity and efficiency recommended that the federal account be shared, using the
following percentages:
Federal Government - 53
State Government - 30
Local Government - 10
Special Fund to be distributed
as follows:
Initial development of FCT - 2.5
Mineral producing areas - 2.0
Ecological and other disaster - 1.5
Total - 100
The Government White Paper on Okigbo's Committee Report amended the recommendations and
came out with the following percentages: Federal Government (55%); State Government (30%); Local
Government (8%); Development of Federal Capital Territory (2.5%); Mineral Producing States
(Derivation) (2%); Development of Mineral producing areas (1.5%); General Ecological Problems
(1%). The Revenue Act was enacted in 1981 and it upheld most of the recommendations of
Government White Paper, except in few areas. The State had an upward review from 30% to 30.5%;
and also Local Government from 8% to 10%; while the development of Federal Capital Territory was
totally scraped. An Amendment was made in 1984 which mainly affected the State with an upward
review from 30.5% to 32.5%.
The federal fiscal arrangement in the country did not witness any major change until in 1988
when "The National Revenue Mobilization, Allocation and Fiscal Commission" was established by
Decree No. 49 of 1989 by General Ibrahim Babangida, as part of the transition programme to civilian
rule. The commission which was headed by Lt. General T.Y. Danjuma (Rtd) drew most of its members
from the academics. At the inauguration on September 6, 1988, the commission had nine members. 6
Later, the composition of membership was changed to have a chairman and one member from each
state of the federation as a representative. Unlike in the past when ad hoc committees/commissions
were set up to review fiscal arrangements, the Commission which was more of a permanent institution
was charged with the following responsibilities:
• systematic design and effective mobilisation of all sources of public sector revenues;
• periodic review of the revenue allocation principles and formulae such that would minimise
short-term political pressure;
• prescription and application of revenue allocation formulae after due approval by the federal
government for the purpose of sharing the Federation Account between the federal, state and
local governments;
monitoring the accruals and disbursement of revenue from the Federal Account, the States Joint
Account, the Local Government Joint Account, the various Special Purposes Accounts and such other
Accounts that may from time to time be established or designated by the Commission with the
approval of the federal government;
6The members included: Lt. General T.Y. Danjuma ((Rtd) - Chairman, Dr. A.S. Abam - Secretary, Professor M.O. Kayode, Professor Chike Obi, Professor G.I.
Osayinwese, Professor U. Damachi, Mrs. O. Olakunrin, Alhaji A. Abdullahi, Alhaji Umaru Mutallab.
131