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European Journal of Social Sciences - Volume 2, Number 1 (2006) income tax and corporate income tax); taxes for economic stabilisation (such as import duties) should also be centralised; taxes in mobile factors of production (e.g. gain taxes) should be centralised; residence-based taxes (e.g. sales/excise and retail taxes) can be decentralised; benefit taxes/user charges are usually assigned to the level of government that provides the service (such as toll gate levies, hospital and education fees, motor licences, etc); taxes on immobile factors of production such as land and buildings are assigned to local governments (e.g. property taxes); and lastly taxes on natural resources should be assigned to the central government, for the sake of administrative efficiency and uniform practice since the major projects in this field often involve big multinational corporations. (Musgrave, 1959; Shah, 1991 and Vincent, 2002:20). This pattern of assignment is today a subject of controversy. In assigning revenue-raising responsibilities, it is important to distinguish between those revenue powers which can be exercised by one level of government and the revenue which accrue to that level of government alone (i.e. independent revenue) and those exercisable by a level of government, but whose revenues accrue to that level of government as well as others. The latter refers to those revenues that are shared among the three tiers of government and these make up the federation account. Tables 1 and 2 are explicit on these. The independent revenue sources of the federal government are as listed on Table 3 (a). The retained revenue of the federal government includes what accrues from the independent/internal sources plus the share of federation account, share of VAT proceeds, share of AFEM account, share of privatisation proceeds, share of reserve account, share of GSM proceeds, custom levies, share of fertilizer subsidy/proceeds, PSTF revenue, capital transfers, loan recovery from states, and first charges (e.g. JVC/NNPC priority project, National priority project, external debt service fund and special fund) (CBN, 2003). The independent/internal revenue sources of states are also as stated on Table 3 (b). The retained revenue of the state government include what accrues from the independent sources, share of federation account, share of VAT proceeds, Receipts from stabilisation fund, and Grant and others (CBN, 2003). The independent/internal revenue sources of the local government are also as presented on Table 3 (c). The retained revenue of the tier include what accrues from the internal sources, share of federation account, share of VAT proceeds, receipt from stabilisation fund and general ecology, share of 10 percent of state’s internally generated revenue and Grant and Others. Intergovernment fiscal transfers This is another important issue in intergovernmental fiscal relations. Intergovernmental transfers, or simply revenue allocation/distribution among the tiers of government, occur at two levels: vertical and horizontal. The sharing among the different tiers of government is said to be vertical. The sharing, on the other hand, among thes component units of each lower tier of government is said to be horizontal. The former is normally based on approved rate (in percentages) while the latter is based on approved principles, also expressed in percentages. Several issues have been raised about such transfers especially with respect to the acceptable formula for their distribution, adequacy of revenue for the tiers of government and over-dependence of the two lower tiers of government on such revenue. The principles which guide inter-governmental transfers, according to Aigbokhan (1999:339), include fiscal imbalance (or fiscal gap); stabilisation objectives; redistributive role of the public sector which would sometimes require the central government to redress regional disparity; preservation of internal common market, which 52
European Journal of Social Sciences - Volume 2, Number 1 (2006) may require the federal government to ensure a common minimum level of public services, and inter-jurisdictional spillovers which may otherwise lead to under-or over provision of public services (see also Awa, 1976:77). This necessitated the establishment of a Distributable Pool Account (DPA) (in 1958) and later (in 1979) called Federation Account in the history of Nigeria. Its establishment was to have a pool into which some portion of federally collected revenue should be paid for subsequent share to the units to enable them finance their programmes. Among others, the revenue that are paid into the federation account include crude oil/Gas exports, petroleum profit tax, mining rents and royalties, domestic crude oil sales, Companies Income tax, Custom and Excise duties, Privatisation/GSM proceeds, and so on (CBN, 2003:123). Section 162 of the 1999 Constitution of the federal republic of Nigeria is emphatic on its sharing. It stated clearly that any amount standing to the credit of the federation account shall be distributed among the federal and state governments and the local government councils in each state on such terms and in such manner as may be prescribed by the National Assembly. While the two lower levels of government in Nigeria receive statutory allocation from the federal government, the local governments receive from the two higher tiers of government. Since June 1992, the vertical sharing has been as follows: Federal Government 48.5 percent State Government 24.0 percent Local Government 20.0 percent Special Fund 7.5 percent - Federal Capital Territory 1.0 percent - Derivation 1.0 percent - Development of Oil Mineral Producing areas 3.0 percent - General Ecology 2.0 percent - Statutory Stabilisation 0.5 percent (Bello-Imam and Agba, 2004:71-72). In addition to its 20 percent share of the federation account, local governments are statutorily entitled to 10 percent of States’ internally generated revenue. The only major amendment to the formula since that 1992 was the partial implementation of the 13 percent derivation principle (The Guardian of September 12, 2000:53). The horizontal sharing (among the states as well as among local governments) is based on such principles as population (30%), equality of states (40%), internal revenue generation effort (10%), social development factor (10%) and land mass and terrain (10%) (Bello- Imam and Agba, ibid). Pending the approval of an acceptable formula, the following indices have been in operation since 1999: 53
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