AN ASSESSMENT OF REVENUE GENERATION DRIVE OF LAGOS STATE

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Product Category: Projects

Product Code: 00001146

No of Pages: 70

No of Chapters: 5

File Format: Microsoft Word

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TABLE OF CONTENTS

CHAPTER ONE

1.0         INTRODUCTION

1.1          BACKGROUND OF STUDY

1.2          STATEMENT OF THE PROBLEM

1.3          AIM AND OBJECTIVES OF THE STUDY

1.4          RESEARCH QUESTIONS

1.5          RESEARCH HYPOTHESES

1.6          SIGNIFICANCE OF THE STUDY

1.7          SCOPE AND LIMITATION OF THE STUDY


CHAPTER TWO

2.0           LITERATURE REVIEW

2.1           INTRODUCTION

2.2           GENERAL REVIEW OF LITERATURE

2.21         REVENUE

2.22         TAX ADMINISTRATION

2.23         SOURCES OF REVENUE

2.24         CHALLENGES OF TAX ADMINISTRATION IN LAGOS STATE

2.25               STRATEGIES FOR REVENUE GENERATION 

2.3           THEORETICAL FRAMEWORK


CHAPTER THREE

3.0    RESEARCH METHODOLOGY

3.1         INTRODUCTION

3.2          RESEARCH DESIGN

3.3          POPULATION OF STUDY

3.4            SAMPLING AND SAMPLING TECHNIQUE

3.5              SOURCES OF DATA AND RESEARCH INSTRUMENT

3.6                 STATISTICAL TOOLS AND ANALYTICAL PROCEDURE

REFERENCES


CHAPTER FOUR

4.0    DATA PRESENTATION AND ANALYSIS

4.1     INTRODUCTION

4.2     PRESENTATION AND ANALYSIS OF DATA

4.21 ANALYSIS OF RESPONDENTS’ DATA

4.22 ANALYSIS ACCORDING TO RESEARCH QUESTIONS

4.3     TEST OF HYPOTHESES

4.31 TEST OF HYPOTHESIS ONE

4.32 TEST OF HYPOTHESIS TWO

4.33 TEST OF HYPOTHESIS THREE


CHAPTER FIVE

5.0      DISCUSSION OF FINDINGS, CONCLUSIONS AND RECOMMENDATIONS

5.1      INTRODUCTION

5.2          DISCUSSION OF FINDINGS

5.3         CONCLUSIONS

5.4          RECOMMENDATIONS

 





 

CHAPTER 1

1.0     INTRODUCTION

1.1       BACKGROUND OF STUDY

The world over, taxes is one major source of government revenue, however, not every government has been able to effectively exploit this great opportunity of revenue generation. This can be attributed to a number of reasons including the system of taxation; tax legislation; tax administration and policy issues; over reliance on other sources of revenue (such as foreign aid and grants); corrupt practices in the system –  especially as it relates to the system of tax collection and the behaviour of citizens towards tax payment; and ease of tax payment (Akintoye and Tashie, 2013). However, the increasing cost of running government coupled with dwindling revenue has led various State governments in Nigeria in formulating strategies to improve their revenue base. (Ahmad, 2005) as cited in (Enahoro and Olabisi, 2012) pointed out that the objectives of the tax system are multi-dimensional in nature which includes revenue generation, resource allocation, a fiscal tool for stimulating economic growth and development and social functions, like redressing the rural-urban population drift. Taxes, and tax systems, are fundamental components of any attempts to develop a state, and this is particularly the case in developing or transitional nations. The near collapse of the National economy has created serious financial stress for all tiers of government (Adenugba and Ogechi, 2013). Despite the numerous sources of revenue available to the various tiers of government, oil alone accounts for 40 percent of the country’s GDP, 70 percent of budget revenues, and 95 percent of foreign exchange earnings (Oloyede, 2010). Unfortunately, the serious decline in the price of oil in recent years has led to a decrease in the funds available for distribution to the states. The need for state and local government to generate adequate revenue from internal sources has therefore become a matter of extreme urgency and importance.  This need underscores the eagerness on the part of state and local governments and even the federal government to look for new sources of revenue or to become aggressive and innovative in the mode of collecting revenue from existing sources. Section 16 (b) of the 1999 Constitution of Federal Republic of Nigeria, under the Economic Objectives, provides  that the government should control the national economy in such manner as to secure the maximum welfare, freedom and happiness of every citizen on the basis of  social  justice  and  equality  of  status  and opportunity. Section 16 (c) of the same Constitution further provides that the state without prejudice to its right to operate or participate in areas of the economy other than the major sectors of the economy, manage and operate the sectors of the economy. Generally, government the world over earns revenue from taxes, non- tax income and capital receipts.

Revenue:

As stated by the International Monetary Fund (IMF) (2001), revenue is an increase in net worth resulting from a transaction. For general government units, there are four main sources of revenue: taxes and other compulsory transfers imposed by government units, property income derived from the ownership of assets, sales of goods and services, and voluntary transfers received from other

units.

Tax: 

Arnold and Mclntyre (2002) defined tax as a compulsory levy on income, consumption and production of goods and services as provided by the relevant legislation. According to Azubike (2009), tax is a major player in every society of the world. The tax system is an opportunity for government to collect additional revenue needed in discharging its pressing obligations. Odusola (2006) stated that Nigeria’s tax system is characterized by unnecessary complexity, distortion and largely inequitable tax laws that have limited application in the informal sector that dominates the economy. (Abubakar 2008) as cited in (Enahoro and Olabisi, 2012) further opined that the

Nigerian tax system has undergone significant changes in recent times. The tax system is the process of taxation involving sets of rules, regulations and procedures with the organs of administration interacting with one another to generate funds for government (Agbetunde, 2010). An efficient and effective tax system offers itself as one of the most effective means of mobilizing a nation’s internal resources and it lends itself to creating an environment conducive to the promotion of economic growth. Nzotta (2007) argues that taxes constitute key sources of revenue to the federation account shared by the federal, state and local governments. 

Non-Tax Revenues

These are other sources of government revenue. They include administrative revenue, gifts, revenue from government property, revenue from public enterprises, government owned corporations incomes, central bank revenue and others.

Capital Receipts

These can be  in  the  form  of  external  loans  and debts  from  international  financial  institutions like the International Monetary Fund (IMF) and the World Bank.

Internally Generated Revenue:

Internally  generated  revenue  are  those  revenues  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  license, among others.

Revenue is the bedrock upon which any government’s electoral promises can be realized (Shodipo, 2013). It is the enabling factor in the provision of public goods. The state recognises its unique status. The state government is striving to actualise its dream of making Lagos a mega city by the year 2015. It is also poised to live up to its responsibility of providing basic infrastructure, such as roads, drainage, water, education and health-related services needed by its ever-growing population (Ebulu, 2008). This study therefore seeks the discover the actualisation of the mandate of the state government in providing the basic social needs of its citizens solely through the state’s internally generated revenue

                   1.2       STATEMENT OF THE PROBLEM

The  increasing  running  cost  of  government  coupled  with  rapid  infrastructural  requirement  to  meet expanding  social  needs  of  citizenry  has  left  various  governments  with  formulating  strategies  to  improve revenue  base. The contending problem of tax evasion, collusion of tax officers, staggering population increase and diversion of revenue belonging to government into private pockets remain like a sore, refusing to go away. This in addition to the unscrupulous activities of some tax consultants engaged curtail revenue drive. While decrying the low productivity of the Nigerian tax system, “deficiencies in the tax administration and collection system, complex legislations and apathy on the part of those outside the tax net” are identified as some of the root causes of inadequate internal revenue generation (Ijewere, 1991 and Ndekwu, 1991) as cited in (Ariyo, 1997). In the case of Lagos state, the story was a sordid affair. By the turn of the last Century, Lagos had become an international poster - child for the doomsayers of the coming urban challenge — with a reputation for overcrowded and squalid living conditions, high rates of crime,  poor governance, urban and environmental degradation and transport chaos (Filani, 2012). For a megacity the size of Lagos, with its huge infrastructural and governance backlogs, the challenges are enormous. Its transformation is a long- term project, requiring a combination of clear and consistent leadership, constant reform and innovation, meaningful engagement with the city’s private and corporate citizens and huge investments (Filani, 2012). This study seeks to discover how the Lagos state government managed the deplorable revenue situation and brought a turn around to the situation in the state and the lives of its citizens.

                   1.3      AIM AND OBJECTIVES OF THE STUDY

The aim of the study is to assess the revenue generation drive of Lagos state government through efficient and effective tax administration alongside its impact on the citizens of the state. Since the bulk of the revenues flow from the citizens’ pockets, the payment compels the citizens to ask questions and show interest in how those entrusted with the management of the collective wealth of the citizens, discharge their duties.

The specific objectives of the study are to:

i. Examine the effect of efficient and effective tax administration on internally generated revenue in Lagos state. ii. Evaluate the impact of increased revenue generation on the economic well-being of

citizens in Lagos state.

iii. Determine the extent to which efficient and effective tax administration has influenced economic and infrastructural development in Lagos state.

                   1.4       RESEARCH QUESTIONS

i.                 What has been the effect of an efficient and effective tax administration on internally generated revenue in Lagos state?

ii.               How has the increase in internally generated revenue of the Lagos state government affected the economic well-being of the citizens in Lagos state?

iii.             To what extent has an efficient and effective tax administration influenced economic and infrastructural development in Lagos state? 

 

 

 

                   1.5      RESEARCH HYPOTHESES

In order to answer the above research questions, the following hypotheses were formulated.

HYPOTHESIS ONE

H0: Effective and efficient tax administration has not increased Lagos state internally generated revenue. 

H1: Effective and efficient tax administration has increased Lagos state internally generated revenue.

HYPOTHESIS TWO 

H0: Increased revenue generation has not affected the economic well-being of Lagos state citizens.

H1: Increased revenue generation has affected the economic well-being of Lagos state citizens.

HYPOTHESIS THREE

H0: Efficient and effective tax administration has not influenced infrastructural and economic development in Lagos state. 

H1: Efficient and effective tax administration has influenced infrastructural and economic development in Lagos state.

                   1.6       SIGNIFICANCE OF THE STUDY

In appraising the Nigerian tax system as a tool for revenue generation, Naiyeju (2010) and Odusola

(2006) asserted that the system is seen as being lopsided, and dominated by oil revenue. However, 14 years since the return of democracy, efforts by leaders at various tiers of government have been geared towards arresting the imbalance and coming up with a regeneration programme that will give the people, for whose wellbeing the government exists, a new lease of life. This reason largely informed the tradition in Nigeria whereby a government is assessed by its ability to provide basic infrastructure such as good roads, potable water, electricity as well as guaranteeing efficient and effective education and health care systems. (Ajayi, 2013).

Thus, the study is significant to state governments in Nigeria as it highlights the aggressiveness and innovativeness of the Lagos state government to generate revenue aside from oil sources and federal government allocations through effective and efficient tax administration. 

This study is significant to international analysts interested in the reforms going on in Lagos state, what drives this development and the impact on residents of the state.

Finally, the study can serve as a means by which the citizens of the state can appraise the Lagos state government.

                   1.7      SCOPE AND LIMITATION OF THE STUDY

This study is delineated to the geographical area of Lagos state. This is because it is believed that Lagos state serves as a role model for other states in terms of business activities and rules and regulations guiding various types of businesses in Nigeria with respect to taxation (Adeyeye, 2004). It assesses the revenue generating machinery of the Lagos state government, evaluating the impact of increased revenue generation on the citizens of Lagos state.

Constraints in the course of the study include shortage of time, lack of finance, uncooperative respondents, non-knowledgeable respondents, respondents’ bias in answering questions, inaccessibility to information termed confidential, inaccessibility of respondents and no response from some respondents.

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