In addition, its intention is to simplify the regulatory environment for businesses internationally.
Mike European Journal of Business and Management www.
BUyo, Nigeria This study assessed the effects of internally generated revenue on infrastructural development in Akwa Ibom State. This is because the State as the second tier of government Igr and infrastructural dev revenue to provide basic social amenities to the people.
Thus, the study specifically sought to ascertain the extent to which IGR has contributed to the provision of such infrastructures as water, electricity, and road.
An ex-post facto research design was adopted and the data used were obtained from secondary sources. The data were analyzed with simple percentage statistics while simple regression statistics was used in testing the hypotheses.
It was found that IGR contributed significantly and positively to the provision of water, electricity and roads. However, these contributions were skewed more to roads than electricity and water. It was concluded that IGR has made positive, but uneven contribution to the development of infrastructures in the State as some aspect of infrastructure like road was found to receive more boost from IGR than other infrastructures.
Consequently, a balanced approach to IGR appropriation for infrastructural renaissance in the state was recommended. By this, IGR allocation would be redirected to such infrastructures as water that is directly and away from such infrastructures like roads that are not directly linked with the life of the common people who incidentally are the majority.
It is by this that the people will fully benefits from their contributed revenue that form the bulk of internally generated revenue for the government. IGR, infrastructural development, fiscal federalism, state development, government 1.
According to Otehinfrastructure, which is the physical assets and services, are fundamental to the growth and development of an economy. It therefore follows that, any nation that wants to grow and developed, must make infrastructure a priority and policy issue.
However, it is one thing to place much emphasis on the development of infrastructure and another thing to have enough funds to finance infrastructural development. Although there are several sources of revenue federal government allocation, corporate donations, individual donation, etc.
According to the authors, IGR does not develop hyper-inflation, it is free and does not carry any burden of repayment and interest like European Journal of Business and Management www. IGR also serves as a tool for social engineering, it goes a long way to keep the society moving, because as government gets more revenue and commission more projects, more money is put in circulation, more employment opportunities arise and more business opportunities are created which impact positively on generality of the society.
And above all it serves as tool for infrastructural development. On the other hand, IGR inspite of its benefits is not without challenges.
It lack the capacity for revenue base data collection and analysis; lack register of revenue customers and information system; prone to unrealistic fees and tariffs, poor collection and analysis of performance data, lack performance evaluation against targets; poor method being cash-based only of generation; poor internal control and financial reporting; lack transparent accounting; non reconciled cash books and bank accounts; irregular returns to the Office of the Accountant General; irregularly audited account; lack a documented action plan for improving its collections; limited resources for its generation; poor coordination within and between organizational units; inadequate training of staff in revenue administration; low morale in the area of revenue administration; poor work environment in which tasks are performed; poor internal organizational arrangement for revenue generation; poor business process among others Eze, Omole, Onyinka and Okonji, Against these problem and the apparent devastative effect of the global financial meltdown on all economic activities that has reduce the strength of every economy to generate an appreciable level of revenue internally and the less attention to IGR collection by government, there is a growing debate on how much IGR accrue to Akwa Ibom State and what such amount is used for, given the inefficient methods or strategies with which state government show towards the collection of IGR.
Despite the seemingly poor collection of IGR in the state, the general feelings of the populace are that the state is very buoyant considering the about N25 billion monthly receipts from the Federation account. People like Essien believed that much should have been achieved given such receipts; especially in terms of youth empowerment, industrialization, social security and general poverty reduction.
There have not been any known empirical investigation to further substantiate these claims; instead, there are problems, differences, doubts, disappointment, dissatisfaction in the social contract between government and its citizens in carrying out their constitutional and civic responsibilities.
It is against this background that this study sought to empirically:Revenue generation is the nucleus and the path to modern development.
This study assessed the effects of internally generated revenue on infrastructural development in Akwa Ibom State. This is because the State as the second tier of government needs.
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NYLAR® IGR • Demize Nylar® IGR prevents the flea and certain listed cockroaches from developing into egg laying adults. • Inhibits reinfestation by fleas for up to days. • One treatment stops listed cockroaches from generating reproductive offspring for days. The infrastructural development of the Fédération Internationale de Football Association (FIFA) World Cup in South Africa made a large contribution to the recovery of the country out of the recession.
Keywords: Educational infrastructure, IGR, Infrastructural development, Road Infrastructure, Taxation, Water infrastructure. Introduction Generation of revenue is the focus or recent economic growth strategy. Financial disproportion has been the bane of the Nigerian economy more. Key words: IGR, infrastructural development, fiscal federalism, state development, government Introduction In most emerging economies, infrastructures, whether social or economical, are one of the many areas with air of expectation and great curiosity.