REVENUE GENERATION IN LOCAL GOVERNMENT AREAS (PROBLEMS AND PROSPECT)

ABSTRACT
The adverse situation in the various local government areas of Nigeria has led the researcher to go into this very topic. Hence the purpose of this work is to enlighten people mostly students in the school of financial studies on how revenue is generated in local government problems confronting them as regards revenue generation as well as prospects to the problems.
However local government is expects to use the funds generated in embarking on income earning projects; projects that come under fee or bill charging utilities like portable water electricity construction of market squares.
However before fund can be generated one must make ways of getting this funds like grants given to local government for some purpose by the federal government. The central government also determines the source extent purpose and maximum dilation for which borrowing is to embark upon by the local government and not just going ahead to borrow.
Local government raise loans to purchase plants and equipment as well as other projects whose costs are too great for them to embark on at a time.
Furthermore local authorities in Nigeria re responsible for the establishment and maintenance of public motor parks bad roads market squares etc.
It is therefore recommendation for students in the school of financial studies at all level (who will be opportune to lay hands on this write up) as a ground for the much needed funds internally generated revenue to facilitate projects execution by local government.

STATEMENT OF PROBLEM
Local government council as third and last tier of government is faced with this primary function of bringing as close as possible the impact of government to people of a particular locality. Impacts such as government regulatory policies government protected service government development projects e.g. road net work hospitals school markets pipe borne water etc.
This primary function of the local government has in recent times faced a lot of set back due to insufficient revenue emaciating from the councils liability to generate (internal) revenue from the local dwellers. This problem cannot be over- emphasis as it has become a major concern to both he state and federal government
In relation to the above stated problem the researcher will be investigating on why and how this problem can be tackled for be tackled for better efficiency of the local government.
1.2 RATIONALE OF THE STUDY
This study “Revenue generation in local government Areas is considered necessary for various essential reasons. As a matter of fact since we all know that development of any area depends on the revenue generated. This revenue generation in local government area enables the area to carry out some development project such as electricity water and road construction project etc.

1.3 SIGNIFICANCE OF THE STUDY
The inhabitants of the various local government areas of the nation (NIGERIA) will have the course to enjoy the affirmative results to certain extent of all or part of these problems to re3venue generation in local government are properly tackled. Hence such myriad of problem of revenue generation which also gives rise to untold hardship will generally be under control or a thing of the past.
This will become a tool for most local government area to a speedy set-up of some strategies which will enable them to generate their revenue easily and as well as executing their project effectively. This study will be of paramount significance to the society mostly to those students in school of financial studies (banking & finance) who are making or intending to carry out research in the problems that confront most local government in Nigeria on revenue generation.
This will also give potential market men and women as well as other residence of various local government areas to comply with their respective local government councils as regards payment of tax rates charges etc.
Finally it will enable the researcher to have an in-depth knowledge of the study. Therefore the significance of this study is by no virtue exhaustive.