A CRITICAL ANALYSIS OF THE PROBLEMS OF FINANCIAL MANAGEMENT IN LOCAL GOVERNMENT COUNCILS IN NIGERIA
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A CRITICAL ANALYSIS OF
THE PROBLEMS OF FINANCIAL MANAGEMENT IN LOCAL GOVERNMENT COUNCILS IN NIGERIA
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF THE
STUDY
Local government in Nigeria has been changed by the
constitution of the responsibility or grassroots development and such
recognized as the third time of government. There has been a number of national
conference and seminars in local government in various parts of the country.
All these, one effective system of local government in Nigeria, this study is
mortised by the derive to ascertain the reason why in spite of series of seminars and conference on local
government administration especially on financial management in efficiency and
Mis-management of resources are still rapid and uncontrollable in local
government.
The introduction of 1976 local government reform in Nigeria
made more specific duties of government which has contributed in no small
measure towards making people feel more of the need for a strong government at
the level more result oriented.
Unfortunately
the local government has not been able to achieve most of its adequate
financial resources which has been a major problem leading to instability and
inefficiency as many local government are incapable of government in their
different localities with the introduction of the 1976 reform position of local
government system because the system made it possible for the local government
to raceme most of their revenue from the federal state government. But the
dependency on the statement for therefore it revenue have some notable
disadvantages grants from centre. This could affect the cordiality of their
service. In addition of grants from the
central government also receive revenue t6hrough internal sources like fees and
fines local licenses, rates on local government property interest and dividends
retirement and miscellaneous income (slaughter fact etc.). Most often this
revenue are not effectively collected and misappropriated out mostly be members
of staff responsible for collecting it.
Aboh Mbaise local government is one of the oldest local
governments in Imo State. It was created in 1981.
Geographically, Aboh Mbaise has a boundary with delta state
in the North; it is bounded by rivers state.
At local government bounding in the North. It has bounding
with Aguata local government at the east. It has boundary with Ihelas local
government.
Aboh Mbaise local government is divided into three zones
namely Enyiato local government, Ngwu local government, and okewuwu local
government.
In the light of this therefore research as has been done in
three states the financial management in order to final solution in solving
them. In an attempt to do this we started with chapter one the introduction,
background of the study, statement of the problem, objective of the study,
scope of the study, chapter two deals with review of the related literature.
Chapter three deals with the design and methodology. These
are subdivided in to areas of the study. Population of the study, sampling
procedure. Techniques used instrument, method of data collection and method of
data analysis.
Chapter four deals with presentation of and analysis with
focus on testing of hypothesis and summary of the result.
Chapter five deals on discussion, recommendation and
conclusion of the research implication of the research finding and suggestion
for further research.
1.2 STATEMENT OF
PROBLEM
The research is concerned with the problem of financial
management in Imo State (a case study of Aboh Mbaise LGA) with the local
government reform of 1976, local government become recognized as the throatier
of government rested with the statutory power to discharge the duties and
responsibilities of a government in order to achieve set objective and an
efficient accounting system. It will be very difficult for local government
management to keep close control of financial transaction, policy formulation
mobilization and expending their resources. But things still differ in Nigeria
local government because there have been complaints of inefficiency and
Mis-management of local government revenue and as a case of Aboh Mbaise local
government their case is not different. For example:
1. The council could not execute the proposed project of
reconstruction regarding the major road that lead to Aboh to Ahiara and
Chokonaeze to Mubutu.
2. They could not develop a good project like schools in Aboh
Mbaise.
3. The council Mis-manage our funds while we don’t have
electricity in our local government and pipe born water in Aboh Mbaise.
1.3 OBJECTIVE OF
THE STUDY
Aboh Mbaise local government has so many financial obligation
or function to reform. The research paper is carried out:
1. To find out how the generated revenue is controlled
2. To find out how what brings out the management of Aboh
Mbaise local government revenue.
3. In finding out the financial management are being handling
1.4 RESEARCH
QUESTIONS
1)How the generated revenue is being controlling by the Aboh
Mbaise local government?
2)What brings out the Mis-management of Aboh Mbaise local
government revenue?
3)How can the financial management of order are being
handling by the top people in the local government.
1.5 SIGNIFICANCE OF
THE STUDY
First the research is timely because not such studies have
been conducted in the local government because the administration could not
embark on development project but came to the chairmanship position for their personal
again. It will help the republic chairman and other coming after him on how
best to manage the present financial crises that militate against the
development of Aboh Mbaise. Despite series of reforms and other attempts made
by the federal and various state local governments the problem of financial
administration and management exist.
1.6 SCOPE OF THE
STUDY
The study covers only Aboh Mbaise local government area since
allocation differs a very from local government to local government which depends
in the formula for the allocation especially primary pupils enrollment lend
mass central. It should be pertinent to role that there is general application
of rules and regulation on the local government in Nigeria which they must
strictly to. By this therefore what is applied in one local government is
applied to the other because of their uniformity.
1.7 LIMITATION OF
THE STUDY
Certain constraints are envisaged in the course of this
project work:
1. Time was not enough to get material for the project work.
2. This is lack of statistical data to cover the needed areas
3. There is lack of finance to carry on the debt research
work.
1.8 DEFINITION OF
TERMS
Is allowing for better understanding of the research. It is
considered necessary that some of the term used in the work be defined:
Financial: In the
economic sense is defined as economic decision capable of enhancing social
welfare or a resources allocation income distribution and stability aspect. It
can also be defined as economic behavior of government into the facts,
techniques principles theories rules directing and policies shaping and
governing the use of financial resources of government.
Management: It can be defined as a mechanism where by the
nature and structure of existing finance can be managed and analyzed to follow
existing government policies as directed in the budget. Management includes
when the allocation has been shared to various local government the strategies
will be how to control the allocation and internal generated revenue to ensure
efficiency management of fund.
Statutory allocation: A fund established by the federal
government for pulling of extra –budgetary revenue of unexpected home
especially from oil exporters. It is also provided sources of fund for
emergency purpose.
Tax: Compulsory payment by individuals corporate organization
and partnership into the pursue of government for running of its
activities.
Tax avoidance: A legitimate way of not paying tax by engaging
in non-taxable activities.
Tax evasion: An illegal way of not paying tax, one is liable
to pay to government. It is a criminal offence.
Per capital income: A method of assessing the standard of
living in any country. It involves determining potential income per person in
an economy.
Multinationals: Large firms in Nigeria that are of the
numerous subsidiaries of the parent companies abroad.
Foreign policy: Articulated course of section that defines
Nigerians relationship with other country’s and its stand and attitude towards
certain international issues.
Budget: An economic tool used by government to estimate its
expected revenue and project expenditure over a period of time usually or
yearly.
Marginal propensity of investment: That degree of increases
in investment due to increase in income.
Inflation rate: The rate or speed at which the general price
level are increasing.
Marginal propensity to consume: That degree of increase in
consumption level as a result of increase income.
Debt conversion programme: A system initiated by the federal
government through the central bank in which the country’s external debts are
sold through auction to interested parties.
National rolling plan: A fiscal policy adopted by government
especially during 1989- 2000 year which aimed at achieving real economics
growth and macro economics , stability in order to fight the problems of
unemployment and poverty in the society.
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