Dynamic and Challenges of Revenue Sharing and Its Impact on Political Stability in Nigeria (2015-2020)

Abstract

From the beginning, the framework of Nigerian federalism has focused on managing diversity and revenue distribution among its constituent portions. The study focuses on how Nigeria's political stability appears to be determined by revenue allocation. It makes the case that vehement opposition to revenue sharing or allocation has led to a never-ending catastrophe. According to the study, the unsatisfactory method or criterion used in the revenue distribution has always been the point of discontent. However, the result has come to define the social, political, and economic relationships between the various classes, organizations, and ideologies inside the federation. The analysis concludes that financial subordination deviates from how federalism should function in light of its logic or theories. The constitution should grant the Center and its constituent elements the authority to manage their resources. Ultimately, it suggests that governance should be centred around transparency, accountability, and probity. In addition, the system needs to be reorganized to weaken and devalue the Center politically. This will guarantee equity and fairness in the political system, lessen political violence, and lessen political tension as well as the marginalization of specific geopolitical zones.