ABSTRACT
Revenue generation in Nigeria has
played a very pivotal role ever since the importance has be widely known
especially since the era of oil boom and it is infavour of this background that
I was motivated to write on the topic ‘’the problem and prospects of revenue
generation by the government’’ simple because the revenue has been abused squarely
by the government recently.
Chapter one will eposes the background of the study from different
writers /professors that is their various definitions and expositions, it will
also reveal some of the significance of the study to the nation and students
who would like to write on similar topic.
Chapter two, will nation elaborate more on the traced dignitaries who
have written more on the topic about the past and previous problems and
prospects of revenue generation in the nation since inception?
Chapter three, explains how the researcher collected the data for the
completion of the project which is basically through literature search that is
secondary data which data which is
located from school library and federal and state library.
Chapter four, explains the findings by the researcher on what are
problems associated to the disbursement of revenue generation and the suggested
prospects or solution from the research towards the generation by the
government likewise the disbursement.
Finally, chapter five, the researcher is recommending a principle toward
the revenue generation to create-effective handling by the government which is
suggested to be beneficial to the government and the nation.
TABLE OF
CONTENT.
TITLE PAGE
I
APPROVAL PAGE
II
DEDICATION
III
ACKNOWLEDGEMENT
IV
TABLE OF CONTENTS
V
ABSTRACT
VI
CHAPTER ONE
1.1, INTRODUCTION
1.2, STATEMENT OF THE PROBLEM
1.3, PURPOSE /OBJECTIVE OF THE
STUDY
1.4, SIGNIFICANCE OR IMPORTANCE OF
THE STUDY
1.5, LIMITATION OF THE STUDY
1.6, DEFINITION OF TERMS
CHAPTER TWO
2.1, REVIEW OF RELATED LITERATURE
CHAPTER THREE
3.1, RESEARCH
DESIGN AND METHODOLOGY
3.2, SOURCE OF DATA USED
3.3, LOCATION OF DATA
3.4, METHOD OF RESEARCH /DATA
COLLECTION
CHAPTER FOUR
4.1, SUMMARY OF
FINDINGS
CHAPTER FIVE
RECOMMENDATION AND CONCLUSION
BIBLIOGRAPHY
CHAPTER ONE
1.1,
INTRODUCTION
Revenue transaction comprises all the activities of a
given organization both private and public sectors which connected with revenue
planning revenue rating and revenue generation. The problems and prospects of
revenue generation by the government has been a burden to various sectors of
the economy.
Revenue disposition and liquidation also creates a great mischief in the
development of the country. over the years government have been showing
emphasis on the factors that give rise to the problems and prospects of revenue
generation .since the growth and survival or expansion of any country depends
on its sources of revenue generation . Revenue can be defined as the sources
where by people and government both private and public bodies can obtain to
raise money or capital in order to execute its projects. Revenue generation can
be grouped on the basis of its sources or uses but due to the disabled
situation of earning only two classes of revenue generation may be analyzed and
evaluated in this context there are internal generation revenue and external
revenue generation. Internal generated revenue consist of community rates,
community taxes, local license fee, Hawkers permit fee marriage, Birth, and
Death fee, also others include earnings from environmental sanitation fee, palm
wine taper license fee market tools, motor park fee, sewing institute fee, toll
gate fee, customary right of occupancy e.t.c. Revenue can be generated
externally through grants from federal and state government and equally other
agencies statutory allocations from the federation and state government
accounts. Obviously revenue generation is quite essential for the effective
payment of the workers salaries and also to enable them carry out its capital
projects although this concept needs a greats approach for the survival and
expansion of the country, because without the basic channels of revenue
earnings the councils aims and objectives may be ruined down. For this issue,
many revenue generators depends their mind on how to make private money instead
of giving adequate account there by regarding the convention as a gambling game
and the problem has pulled the mind of the image of the concerned citizens who
want to sustain the image of their nation there by drawing their attention and
effort towards the problems and prospects of revenue generation is something
that the government board of inquiry should put in their mind because through
the recent observation showed that these incidence occurs as a result of
improper management in the field of revenue generation. These problems may the
regarded as an epidemic disease among the revenue generations and equally the
concerned revenue officers of the government without the valid statement that
revenue is vital and consistent in the running of any capital projects, there
by making it to be efficient and effective.
Revenue has been defined as the price of goods sold and services
rendered during a given time period (Walter B meigs) seas revenue as a
situation where by an organization renders essential services to sits customers
and rescues the immediate cash payment. It is also defined as the sales of
merchandise and is commonly characterized by a decrease in an asset to
recognize the expenses of obtaining the sales. (J.C.Odike) Defined revenue as
the amount realized from the sales of the products of a firm.
Finally, the government accounting series sees the problems of revenue
generation as the following.
Lack of expert knowledge as the research made so far the problems of
revenue generation occurs as a result of unskilled personnel because most of
the revenue generators donts know how to ascertain proper accounting records
and procedure. The negation effects of this is that most of the top management
official committee for this issue. In other to over come this problems revenue
generators must be enlightened on how to keep adequate accounting records.
Secondly, obsolete and counter feint money also creates another problems
in revenue generation this problem emanate as a result of poor circulation of money since money generated is not
purely. Verified and checked. Money generated must be purely examined before
collection and submission to the recurring cashier of the government.
Thirdly, loss of revenue earning books leads to problems of revenue
generation, since this book contain a lot of information about revenue records,
therefore, adequate care must be taken to minimize this incidence and equally
revenue-earning books must be kept privacy.
1.2
STATEMENT OF THE PROBLEM.
The increasing
rate of careless attitude towards revenue generation by the government and
individuals is a thing of concern especially to a country
Ours and prospects by the
government influence the survival and growth of the country. These problems
occur as a result of improper planning and management, counter feint, forged
receipt and loss of revenue earring books. Over the years government have been
raising issues on revenue generation, yet the problems remains unsolved.
1.3,
PURPOSE OR OBJECTIVES OF STUDY.
This study is meant to ascertain the following 1.5
objectives:
1. To
determine the problems and prospects of revenue generation by the government.
2. To
analyze the causes or factor influencing revenue generation by the government.
3. To
ascertain those involved in this malpractice.
4. To
determine the differences in yearly revenue records in the government.
5. To
determine the possible solution to the problems and prospects of revenue
generation.
6. To
make recommendation based on the finding.
1.4,
SIGNIFICANCE OR IMPORTANCE OF THE STUDY
Nigeria society today is developing
rapidly in industrial and technological aspects. As a result of this, the study
of the problems and prospects of revenue generation by the government will let
people feel the impacts of revenue generation by the government. Since revenue
generation helps the government to sustain the rapid payment of staff salaries
and equally to embark on its capital projects. By so doing this research will
help people to know the vital view on revenue generation. By so doing revenue
generation needs proper planning, organizing, motivation and control. Also this
study will help both private individuals and government to know that
revenue-earning needs qualified personnel and also to stress on the side
effects of revenue generation.
1.5, SCOPE
AND LIMITATIONS OF THE STUDY
This research is carried out to examine the problems and
prospects of revenue generation by the
government. As a result of carrying out this research there are some problems
to be encountered by the researcher hence the researcher limits the study to
some few area in Nigeria. Other factors include poor responses from revenue
officers and time factors.
Financial problem also compelled the researcher to do collection from
secondary sources like textbooks, journals etc.
1.6,
DEFINITION OF TERMS.
Many terms may
be defined in relation to the topic above. There are the following:
1.
PROBLEM: this involves those difficulties
that set back the development of an organization.
2.
PROSPECTS: this is the essence or the expectation
of something.
3.
OBSOLETE: this is used material or
equipments issued to the revenue generators.
4.
EARNING BOOK: this is a book of account whereby all
transaction involving revenue generations are recorded for future purposes.
5.
REVENUE: this simply means or money or fees
collected i.e. Incoming money to the government.
6.
MARKET TOLL: this is receipts issued to the
markets droller based on the items sold or bought. This involves immediate cash
payment.
7.
LIMITATION: this simple means to keep within a
certain space or within certain rules.
8.
COUNTER FEIT: this is bad money made for a
dishonest purpose
9.
CAPITAL PROJECTS: these are projects
involving a lot of money to be embarked on.
In above all revenue seen as
an important concept in the theory of a firm or government because revenue
generated or received by a producer related to cost incurred by him will
determine its profit making hence the success or future of the government
depends on its revenue.
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