Research
Nigeriaas Debt Burden and Development Tangle
The main purpose of this research is to empirically ascertain the nexus of Nigeria’s debt burden and development tangle. In order to embark on this exercise, relevant data were sourced from Central Bank of Nigeria statistical bulletin and National Bureau of Statistics fact book spanning the years (1980-2014). The Johansen test for the co-integrating association corroborates that a long run dynamic equilibrium link exists between economic development and debt stocks, and the Granger Causality result shows that the various debt stocks granger caused the performance of the Nigeria’s economy. On the basis of our findings and conclusion thereof, and in the light of the need to encourage and promote economic development, a strategy that exercises tense embargo on fresh loans and advances should be put in place and the government should try by all means to reduce the quantum of public debt as well as its total eradication via debt buy back, total cancelling of the debt or complete repudiating of the debt stock. Policies that will promote increase in the volume of commodities export should be put in place by the government, which will boast earnings from foreign exchange and hence help to eliminate the huge deficit in the revenue account of the federation.
The Fluxional Relationship Between Internally Generated Revenue and Cost of Collection in Cross River State, Nigeria: Tax Education and Sensitization Measures
This study is about the determination of the fluxional relationship between Internally Generated Revenue and the cost of collection in Cross River State with a view to proffering cost minimization measures. The research is focused on the possibility of finding an optimum level of collection in an era when all tiers of government have been forced by circumstances of the dwindling fortunes of the Federation Account to look inwards for a sustainable model of fiscal operation. Secondary data was obtained from the Cross River State Board of Internal Revenue, the State Budget Department and Ministry of Finance. Descriptive statistics was used to analyze the trend and relationship between Internally Generated Revenue (IGR) and collection cost in Cross River State. Trend analysis was also used to find if the increase in collection cost resulted to corresponding increase in revenue.
