Evaluation of Internally Generated Revenue and Economic Growth
CHAPTER ONE
OBJECTIVES OF THE STUDY
The following are the objectives of this study:
- To ascertain the level of internally generated revenue in Kano State between 1999 and 2014.
- To examine the level of economic growth and development of Kano State between 1999 and 2014.
- To examine the relationship between internally generated revenue and economic growth of Kano State between 1999 and 2014.
CHAPTER TWO
REVIEW OF RELATED LITERATURE
Conceptual Framework
Revenue
Different authors have defined revenue in their own different perceptions. Nightingale (2002), defined revenue as fund needed for governance in the public sector to finance government activities, adding that these fund is be generated from non – oil sources such as income and other forms of tax, royalties, fines, fees, rates and aids from the federal government and foreign financial institutions and countries. According to Otunbala (2011), government revenue include the entire fund generated from oil and non – oil sources other than fund raised from issue of debt instrument such as government bonds, stocks, treasury certificates and treasury bills from capital and money market, adding that non-oil source include; income tax reception, charges, royalties, fees, utilities, miscellaneous revenue among others. Udo and Nkeanor (2016) postulated that internally generated revenues are those revenues generated within the state e.g. taxes, motor vehicle licensing, and royalties among other. Revenue comprises of receipt from taxes as well as those which are not the proceeds of taxation but either the realization from the sale of government properties or other interests and returns from loan and investment earnings. Two types of revenue accruing to state government are internally generated revenue and externally generated revenue i.e. statutory allocation from state government Osisami (1994)asserts that it is those sources of government finance generated majorly by federal state and local contacts, which keep breading and decoding the overall none oil revenues. Internally generated revenue are those revenue that are derived within the state from various sources such as taxes (pay as you earn, direct assessment, capital gain taxes etc. and motor vehicle licenses while the statutory allocation from federation account and value added tax constitute the internal sources Adesoyin A. and Ogechi F.C (2013). However, it is obvious to note that, internally generated revenue is not evenly distributed. The distribution defers from state to state depending on the researches available in the state.
CHAPTER THREE
RESEARCH METHODOLOGY
INTRODUCTION
In this chapter, we described the research procedure for this study. A research methodology is a research process adopted or employed to systematically and scientifically present the results of a study to the research audience viz. a vis, the study beneficiaries.
RESEARCH DESIGN
Research designs are perceived to be an overall strategy adopted by the researcher whereby different components of the study are integrated in a logical manner to effectively address a research problem. In this study, the researcher employed the survey research design. This is due to the nature of the study whereby the opinion and views of people are sampled. According to Singleton & Straits, (2009), Survey research can use quantitative research strategies (e.g., using questionnaires with numerically rated items), qualitative research strategies (e.g., using open-ended questions), or both strategies (i.e., mixed methods). As it is often used to describe and explore human behaviour, surveys are therefore frequently used in social and psychological research.
POPULATION OF THE STUDY
According to Udoyen (2019), a study population is a group of elements or individuals as the case may be, who share similar characteristics. These similar features can include location, gender, age, sex or specific interest. The emphasis on study population is that it constitutes of individuals or elements that are homogeneous in description.
This study was carried to examine evaluation of internally generated revenue and economic growth. Kano state internal revenue form the population of the study.
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
Introduction
It is important to ascertain that the objective of this study was to ascertain evaluation of internally generated revenue and economic growth. In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing the challenges of internally generated revenue and economic growth
Summary
This study was on evaluation of internally generated revenue and economic growth. Three objectives were raised which included To ascertain the level of internally generated revenue in Kano State between 1999 and 2014, to examine the level of economic growth and development of Kano State between 1999 and 2014 and to examine the relationship between internally generated revenue and economic growth of Kano State between 1999 and 2014. A total of 77 responses were received and validated from the enrolled participants where all respondents were drawn from staffs of kano state internal revenue. Hypothesis was tested using Chi-Square statistical tool (SPSS).
Conclusion
One of the IGR collection hindrances identified in the study is the inadequate provision of goods and services that will benefit common people and also boost economic development. Based on this challenge people do not see payment of taxation and other levies as a civic responsibility (NGF, 2015). The study revealed that the impact of IGR on economic growth in Nigeria is robust and positively significant. Everyone believes that government expenditure is high but lacks physical evidence due to corruption
Recommendation
Targets of achievable projects from IGR should be set and vigorously pursued. Further research is recommended on investigation of the physical application of IGR on government expenditure in comparison with the IGR inflows in all the states and local governments in Nigeria.
References
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