MATRICULATION 2017

KASU Senate

Dr. Abdullahi I Musa

The Students

Prof. Muhammad Tanko

3rd Kaduna State University Inaugural Lecture

Kaduna State University  Held 3rd  Professorial Inaugural Lecture Hosted by the University Vice Chancellor on Budgeting ,Taxation and Revenue Generation in Nigeria.

Topic: BUDGETING,TAXATION AND REVENUE GENERATION IN NIGERIA:
The Road Map for Economic Revitalization.

The Vice Chancellor of kaduna State University Enlighten the University on the problem of Economic  generation in Nigeria, he also gave  an option for the  economic recovery in which he mention that there should be increase in investment in areas that will generate more revenue for three tiers of government.

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,Ph.D,FCA,FNAN)

Introduction Continued

•         Since our foreign exchange mainly comes from the sale of crude oil at the international market, the prices of which nosedived, by more than 70 percent, from $110 a barrel in June 2014 to the price of less than $50 per barrel.

•         Therefore, with the present difficulty in the sale of crude oil at the international market, vandalisation of pipeline, which has tremendously affected the volume of production shows that government has to look inwards to generate more revenue for governance,

•         One of those identified sources is “taxation” which is a means of gaining more revenue. The only solution to enforce and encourage tax compliance now is through rigorous effort by tax authorities.

               BUDGETING: Typologies & Conceptual Clarity

•         Budgeting: Different approaches

•         Incremental (Line item) Budgeting Process;

•         Planning, Programming & Performance Budgeting Process;

•         Zero-based Budgeting.

•         As “operational activities” that must be contrasted to a plan which is a “blue print for action”

•         A budget is an instrument that stipulates government policies and programs that eventually actualizes its objectives.

•         While budget is seen an instrument, budgeting can be considered as the process of operationalizing the activities within budget in line with pre-set plans.

•         Also budget is a framework that explains revenue and expenditure profile of government over a specified period.

•         It is also a tool for selecting a mix of public and private goods and services. In the public sector, budget performs the same allocative functions that the price mechanism performs in the private sector.

•         As “operational activities” that must be contrasted to a plan which is a “blue print for action”

•         A budget is an instrument that stipulates government policies and programs that eventually actualizes its objectives.

•         While budget is seen an instrument, budgeting can be considered as the process of operational zing the activities within budget in line with pre-set plans.

•         Also budget is a framework that explains revenue and expenditure profile of government over a specified period.

•         It is also a tool for selecting a mix of public and private goods and services. In the public sector, budget performs the same allocative functions that the price mechanism performs in the private sector.

•         ZBB is considered a process that ensures distribution of resources based on the efficiency of identified priority project areas that achieves desired objective rather than the use of incremental or historical basis. It assumes a review of all projects at the beginning of the budget process with existing and proposed programs rated on equal footing.

•         This negates the practice of topping the existing allocation every year. ZBB ensures prudent allocation of resources and ensures efficiency by constantly monitoring the performance of the budget by all agencies, thereby ensuring that discipline is attained as a major performance indicator. 

•         Two fundamental and indefinable characteristics of the ZBB system. Firstly, budgets are prepared separately in each government department or unit. Secondly, each unit or departmental head separately prioritizes the budgets at every level and each higher-level manager again prioritizes the budgets.

Budgeting: ZBB

•         In a way, it can be observed that ZBB starts with zero allocation until and unless the unit manager is able to make a case for the allocation of resources to the project.

•         Empirically, researches have documented significant difference in the effectiveness of budgets in terms of implementation between ZBB and other forms of budgeting.

•         It is established that application of zero base budgeting tends to be performance driven and with necessary adjustment taken to improve the optimal utilization of resources.

•         Furthermore, we have documented improved budget performance with the implementation of ZBB by both the federal and Kaduna state government

          ENHANCING REVENUE GENERATION THROUGH TAXATION

•         Taxation is a means of regulating the economy of a nation by way of imposing control measures to carefully manipulate excesses of the economy to a desired level.  Excess tax controls excess liquidity in the economy and vice versa.

•         Moreover, taxation serves as a means of checking security and information flow in terms of citizens’ choice and preferences.

•         However, scholars view the term taxation and its role from different perspectives.

•         For example, taxes represent amount compulsorily levied by government on citizens and their investments which enables the state to carry out the functions of governance.

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Advantage of Online Cataloging system

What is an online library catalog?
A database of library materials
photograph of a card catalog
An online library catalog is an electronic bibliographic database that describes the books, videotapes, periodicals, etc. carried by a particular library.

The online library catalog evolved from a printed source, the library card catalog. Before the advent of online catalogs, library catalogs were pieces of furniture that contained numerous small drawers. In these drawers were contained the records of particular items in the library.

These records were printed on small 3"X5" cards and each element of that record had an individual card produced for it. So for each item in the library there was:

a card for the author
a card for the title
and cards for each individual subject heading
A copy of John Grisham's The Firm might have four different cards filed in the different catalog areas: one for the author's name, one for the title, and one for each subject heading, like those below.

You could only search one element at a time and this could take quite a bit of time from your schedule. Very few libraries in Georgia have card catalogs anymore, but you might see the chest of small drawers hidden in a dark corner in some libraries.

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