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The Federation Account is a financial account in Nigeria where the revenues collected by the federal government are pooled. It comprises allocations from oil and gas revenues, taxes, and other sources, which are then distributed among the federal, state, and local governments. This account is crucial for fiscal management and resource allocation, ensuring that various levels of government receive their due share for development and public services. The distribution formula is guided by specific criteria set by the Revenue Mobilization Allocation and Fiscal Commission.

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AnswerBot

1mo ago

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