9-The decline in Federal Government of Nigeria’s revenue from crude oil which form the bulk of the statutory allocation to the States led to assessing the effect of internally generated revenue on economic development of selected Local Government Areas in Lagos State. In respect of the analysis, Ordinary least square regression was deployed to generate the Pearson correlation, coefficient of determination (R2 ), adjusted coefficient of determination and one way analysis of variance to analyse data from Local Governments financial statements. The findings indicate that Internally generated revenue of Local Governments do not have significant effect on educational and agricultural development. Significant positive effect was found between Local Government internally generated revenue and infrastructural development. Developmental efforts cannot be left exclusively to funding by Local Governments. The need for consistent external funding was brought to the fore from the findings. If Local Governments are starved of fund by the Federal and State Governments, it will have major negative impact on rural development because Local Governments internally generated revenues are not adequate to meet the rural economic development. Keywords: Agriculture, Economic Development, Education, Infrastructure, Local Government, Revenue
Poverty is widely accepted as a worldwide problem that affects over one billion people worldwide, and it is one of the biggest problems affecting Nigeria today. It has become apparent that despite the carefully mapped out strategies and action plan rolled out by government in terms of poverty reduction measures, and huge amount of money spent, the end results are at variance with the expectation of the people and as well the aims of the programmes. In assessing this, survey method was used to collect data by administering questionnaires to generate empirical evidence to address the research problem. Simple percentage was used in describing the response pattern of respondents; chi-square ( 2 ) statistical method was used in analysing data generated and testing the hypotheses. The finding of the study include; economic empowerment, and improvement in the income of fadama users. The paper recommended ;increase in the level of access to credit facilities; provision of infrastructures at the rural areas; increase in budgeting for primary and adult education in the rural areas; increase in the value of loan to the users; early disbursement of loan, and the use of multidimensional strategies in attacking poverty.
KEYWORDS: Fadama, Poverty, Policy, Empowerment, Elite theory
Journal Title: BAZE University Journal of Management and Social Sciences (BUJMASS)
Category: Agricultural Economics
ISSN:
Year of Establishment: 2018
Section: Faculty of Management and Social Sciences
Volume: 1
Issue: 2
Total Download: 0
Copy Citation Below
Solomon Benjamin Adekunle. 2024 9-The decline in Federal Government of Nigeria’s revenue from crude oil which form the bulk of the statutory allocation to the States led to assessing the effect of internally generated revenue on economic development of selected Local Government Areas in Lagos State. In respect of the analysis, Ordinary least square regression was deployed to generate the Pearson correlation, coefficient of determination (R2 ), adjusted coefficient of determination and one way analysis of variance to analyse data from Local Governments financial statements. The findings indicate that Internally generated revenue of Local Governments do not have significant effect on educational and agricultural development. Significant positive effect was found between Local Government internally generated revenue and infrastructural development. Developmental efforts cannot be left exclusively to funding by Local Governments. The need for consistent external funding was brought to the fore from the findings. If Local Governments are starved of fund by the Federal and State Governments, it will have major negative impact on rural development because Local Governments internally generated revenues are not adequate to meet the rural economic development. Keywords: Agriculture, Economic Development, Education, Infrastructure, Local Government, Revenue. BAZE University Journal of Management and Social Sciences (BUJMASS). 1 (2). 97-108. https://doi.org/