Problems And Prospects Of Revenue Generation By The Government

Problems And Prospects Of Revenue Generation By The Government

Abstract

profit generation in Nigeria has played a veritably vital part ever since the significance has be extensively known especially since the period of oil painting smash and it’s infavour of this background that I was motivated to write on the content ‘’ the problem and prospects of profit generation by the government ’’ simple because the profit has been abused exactly by the government lately.

Chapter one will eposes the background of the study from different pens professors that’s their colorful delineations and expositions, it’ll also reveal some of the significance of the study to the nation and scholars who would like to write on analogous content.

Chapter two, will nation unfold more on the traced dignitaries who have written more on the content about the history and former problems and prospects of profit generation in the nation since commencement?

Chapter three, explains how the experimenter collected the data for the completion of the design which is principally through literature hunt that’s secondary data which data which is located from academy library and civil and state library.

Chapter four, explains the findings by the experimenter on what are problems associated to the disbursement of profit generation and the suggested prospects or result from the exploration towards the generation by the government likewise the disbursement.

Eventually, chapter five, the experimenter is recommending a principle toward the profit generation to produce-effective running by the government which is suggested to be salutary to the government and the nation.

Chapter One

, Introduction

profit sale comprises all the conditioning of a given association both private and public sectors which connected with profit planning profit standing and profit generation. The problems and prospects of profit generation by the government has been a burden to colorful sectors of the frugality.

profit disposition and liquidation also creates a great mischief in the development of the country. over the times government have been showing emphasis on the factors that give rise to the problems and prospects of profit generation. since the growth and survival or expansion of any country depends on its sources of profit generation. profit can be defined as the sources where by people and government both private and public bodies can gain to raise plutocrat or capital in order to execute its systems. profit generation can be grouped on the base of its sources or uses but due to the impaired situation of earning only two classes of profit generation may be anatomized and estimated in this environment there are internal generation profit and external profit generation. Internal generated profit correspond of community rates, community levies, original license figure, peddlers permit figure marriage, Birth, and Death figure, also others include earnings from environmental sanitation figure, win wine taper license figure request tools, motor demesne figure, sewing institute figure, risk gate figure, customary right of residencye.t.c. Revenue can be generated externally through subventions from civil and state government and inversely other agencies statutory allocations from the confederation and state government accounts. Obviously profit generation is relatively essential for the effective payment of the workers hires and also to enable them carry out its capital systems although this conception needs a greats approach for the survival and expansion of the country, because without the introductory channels of profit earnings the councils aims and objects may be ruined down. For this issue, numerous profit creators depends their mind on how to make private plutocrat rather of giving acceptable 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 trouble towards the problems and prospects of profit generation is commodity that the government board of inquiry should put in their mind because through the recent observation showed that these prevalence occurs as a result of indecorous operation in the field of profit generation. These problems may the regarded as an epidemic complaint among the profit generations and inversely the concerned profit officers of the government without the valid statement that profit is vital and harmonious in the handling of any capital systems, there by making it to be effective and effective.

profit has been defined as the price of goods vended and services rendered during a given time period( Walter B meigs) swell profit as a situation where by an association renders essential services to sits guests and rescues the immediate cash payment. It’s also defined as the deals of wares and is generally characterized by a drop in an asset to fete the charges of carrying the deals.(J.C.Odike) Defined profit as the quantum realized from the deals of the products of a establishment.

Eventually, the government counting series sees the problems of profit generation as the following.

Lack of expert knowledge as the exploration made so far the problems of profit generation occurs as a result of unskilled labor force because utmost of the profit creators donts know how to ascertain proper account records and procedure. The negation goods of this is that utmost of the top operation functionary commission for this issue. In other to over come this problems profit creators must be enlightened on how to keep acceptable account records.

Secondly, obsolete and untoward feint plutocrat also creates another problems in profit generation this problem radiate as a result of poor rotation of plutocrat since plutocrat generated isn’t purely. vindicated and checked. plutocrat generated must be purely examined before collection and submission to the recreating cashier of the government.

Thirdly, loss of profit earning books leads to problems of profit generation, since this book contain a lot of information about profit records, thus, acceptable care must be taken to minimize this prevalence and inversely profit- earning books must be kept sequestration.

Statement Of The Problem.

The adding rate of careless station towards profit generation by the government and individualities is a thing of concern especially to a country

Ours and prospects by the government impact the survival and growth of the country. These problems do as a result of indecorous planning and operation, counter feint, forged damage and loss of profit earring books. Over the times government have been raising issues on profit generation, yet the problems remains unsolved.

, Purpose Or Objects Of Study.

This studyis meant to ascertain the following1.5 objects

1. To determine the problems and prospects of profit generation by the government.

2. To dissect the causes or factor impacting profit generation by the government.

3. To ascertain those involved in this malpractice.

4. To determine the differences in monthly profit records in the government.

5. To determine the possible result to the problems and prospects of profit generation.

6. To make recommendation grounded on the finding.

, Significance Or Importance Of The Study

Nigeria society moment is developing fleetly in artificial and technological aspects. As a result of this, the study of the problems and prospects of profit generation by the government will let people feel the impacts of profit generation by the government. Since profit generation helps the government to sustain the rapid-fire payment of staff hires and inversely to embark on its capital systems. By so doing this exploration will help people to know the vital view on profit generation. By so doing profit generation needs proper planning, organizing, provocation and control. Also this study will help both private individualities and government to know that profit- earning requirements good labor force and also to stress on the side goods of profit generation.