THE POLITICS OF REVENUE ALLOCATION AND SOCIO-ECONOMIC DEVELOPMENT IN TARABA STATE, NIGERIA, 2015-2025

Abstract

The paper examines the politics of revenue allocation and socio-economic development in Taraba State, Nigeria. The aim of the paper is to investigate the politics of revenue allocation, and the extent its affects the socio-economic development of Taraba State; using a qualitative approach method, relying exclusively on secondary data as a source for data collection. Various documentary sources were utilized, including academic journals, newspapers, reports and statistics from National Bureau of Statistics (NBS) and Taraba State Planning Commission, along with other internet bases resources to provide a comprehensive analysis. The paper adopted Douglas North’s Governance and Development theory as theoretical framework. The major findings of the paper revealed that poor governance and corruption, hinder Taraba state socio-economic development, attributing the state's infrastructure deficit estimated to be over ₦1 trillion; the state's revenue allocation formula by the federal government has also been criticized for being unfair and not reflecting the true needs of the state, among others. In other to address these challenges, the paper recommends that; Taraba state government should prioritize transparency and accountability in revenue allocation and financial dealings in general; and the federal government should review the revenue allocation formula to ensure that it is fair and reflects the true needs of Taraba state. This paper contributes to the literature on importance of effective governance, and institutions, providing policy-relevant insights for promoting socio-economic development in Taraba State and similar contexts.