Local government sources of finance - SS2 Government Past Questions and Answers - page 1
1
Which of the following is a source of finance for local government in Nigeria?
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A
International Trade
B
Foreign Loans
C
Grants and Aid
2
What is the primary source of finance for local government in Nigeria?
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A
Internally Generated Revenue (IGR)
B
Statutory Allocation
C
Donations and Contributions
3
What is Internally Generated Revenue (IGR) in local government finance?
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A
Money allocated to local government by the federal government
B
Money generated from taxes and other charges by the local government
C
Money borrowed by the local government from financial institutions
4
Which of the following is a challenge facing local government finance in Nigeria?
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A
Abundant financial resources
B
Efficient financial management practices
C
 Corruption
5
Who approves borrowing by local government in Nigeria?
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A
Local Government Secretariat
B
Local Government Chairman/Chairperson
C
State House of Assembly and Debt Management Office (DMO)
6
What is the role of grants and aid in local government finance in Nigeria?
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7
What are some of the challenges facing the management and utilization of local government funds in Nigeria?
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