Volume 8, Issue 4, July 2020, Page: 190-198
Federally Collected Non-oil Tax Revenue and National Economic Performance in Nigeria: A Pre - post Treasury Single Account Implementation Assessment
Stanley Ogoun, Department of Accounting, Management Sciences, Niger Delta University, Wilberforce Island, Bayelsa State, Nigeria
Odogu Terry Keme Zuode, Department of Accounting, Management Sciences, Niger Delta University, Wilberforce Island, Bayelsa State, Nigeria
Received: Apr. 26, 2020;       Accepted: Jun. 28, 2020;       Published: Jul. 13, 2020
DOI: 10.11648/j.jfa.20200804.14      View  198      Downloads  91
This paper examined the implementation of Treasury Single Account (TSA) on federally collected non-oil tax revenue and national economic performance in Nigeria, via an inter-period comparative milieu. This study was stimulated by the divergent opinion amongst stakeholders on the justification and efficacy of the TSA model. The study was underpinned by the stakeholder and public finance management theories. Mulled after the ex post facto research template, before (pre) and after (post) implementation data of the corresponding periods were obtained from the annual bulletins/reports of Federal Inland Revenue Service (FIRS), Central Bank of Nigeria (CBN) and Nigerian Bureau of Statistics (FBS). While, actual reported tax revenue for the corresponding periods were obtained, gross domestic product was deployed to proxy national economic performance. Paired sample t-test was used to process the data on the Statistical Package for Social Sciences (SPSS) template. The results revealed that, in gross terms more revenue was collected pre-TSA. However, a significant increase in federally collected revenue post TSA implementation was achieved, granted that the economy slipped into recession from the third quarter of 2015, also a considerable growth in GDP. In essence, both measures performed better in the post implementation period from a comparative strand. This implies that, the TSA policy has a positive bearing on both non-oil tax revenue generation and economic performance. Following, it is recommended that government should improve on the existing TSA framework by incorporating complementary, supportive control and monitoring measures to perfect the operation of the system, and to escalate the system further towards monitoring outflows (expenditure),
Treasury Single Account, Non-oil Revenue, Economic Performance, Comparative, Pre-post Period
To cite this article
Stanley Ogoun, Odogu Terry Keme Zuode, Federally Collected Non-oil Tax Revenue and National Economic Performance in Nigeria: A Pre - post Treasury Single Account Implementation Assessment, Journal of Finance and Accounting. Vol. 8, No. 4, 2020, pp. 190-198. doi: 10.11648/j.jfa.20200804.14
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