3rd Inaugural lecture by Prof. Muhammad Tanko

Topic: Budgeting Taxation and Revenue Generation in Nigeria.

The Road Map For Economic Revitalization.

17th February. 2018

Introduction

•          Nigeria 12^th largest producer of oil, 8^th largest exporter, and has the 10^th largest proven reserves in world.

•          Oil account for 40 percent of Nigeria's GDP and 80 percent of its earnings.  

•          Nigeria’s economy is dependent on income from oil.

•          Huge income over the years, encouraged companies and other tax payers to evade tax payment

•          Neglect of oversight function on tax compliance, tax regulation and payment, encouraged tax evasion and avoidance

•          Revenue from oil in Nigerian has shrunk in recent past. Due to the fall in the selling price of crude oil in the world market and pipeline vandalisation   

Prof. Muhammad Tanko (Bsc, Msc, PhD,FCA, FNAN)

CHALLENGES OF BUDGET IMPLEMENTATION AND WAY FORWARD

   

 One of the major problems of budget implementation emanates from a poorly formulated budget. This is primarily related to lack of reliability, credibility and or realism of the source document of the budget    Furthermore, when the processes in the reforms, formulation and implementation are interdependent, this constitute a challenge to the actualization of the budget implementation as all the stages require the same reliable information. It is therefore expedient to have the spending agencies fully involve in the budget process.  A meaningful budget must possess the following four characteristics: equilibrium, comprehensiveness, unity, and periodicity.

Open the link for full presentation of Professor Mahammad Tanko Inaugural Lecture https://docs.google.com/presentation/d/1wpfZ4piMKXJqOlNrkWB3uRd488yHpkd0fJEIYG9gjus/edit#slide=id.p1