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Statistical Analysis Of The Federal Government’s Expenditure And Revenue
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At
independence in 1960, the department of statistics was moved from
customs and excuse to the Federal Ministry of Economic Development with
its name changed to the federal office of statistics (FOS) in the 1980s
further re-organization of the Nigeria statistics system (NSS) led to
the Central Bank of Nigeria taking on the collection of financial
statistics and the National Population Commission given the
responsibility of population statistics including the conduct of census
length and collection of vital statistics like birth and death
registrations and immigration statistics, as well as the conduct of
demography and health surveys.
In 1989, a wholly computerized data
management agency was established called National Data Bank (NDB). NDB
is a data house, was designed to hold time series data dating back to
1914 when Nigeria was created. The agencies FOS and NDB maintained a
complex and over lapping relationship with other members of the National
Statistical Offices (NSO) itself. Reforms started the repositioning of
the federal office of statistics (FOS) in 2004 when it was merged with
the National Data Bank. The reforms in driver by the statistical master
plan (SMP) produced by the Federal Government of Nigeria with assistance
from the World Bank.
The merged of FOS and NDB led to the
establishment of the National Bureau of Statistics (NBS) to give the
agency a National Bureau of Statistics (NBS) to give the agency a
National outlook as the apex statistical agency for all the three tiers
of government. NBS is expected to co-ordinate system of the production
of official statistics all the federal ministries departments and
agencies (MDAS), state statistical agencies (SAS) and local government
council (LGC). The 1957 statistics act has been repeated and a new bill
has been passed to give NBS a legal backing.
1.2 AIM OF THE STUDY
To
conduct a statistical study into public finance of the federation, that
is revenue and expenditure of the federal government of Nigeria
(2003-2008) using regression analysis.
1.3 OBJECTIVES OF THE STUDY
1. To have an insight of the amount of revenue generated and expenditure for the period of 2000-2011
2. To show the relationship between revenue and expenditure using correlations analysis
3. To determine the degree of the occurrence between expenditure and revenue using correlation analysis.
4. To forecast for future revenue and expenditure using time series analysis
5. To make necessary recommendation on the analysis
1.4 SCOPE OF THE STUDY
The
study will be based only on the revenue and expenditure of the federal
government for the period. The data on this project work is given in
billions of Naira and it is only an annual basis.
Data refers to the
collection of specific information, it is collected to enable the
researcher understand the environment under study and to achieve
specific objective.
The data in this project work collected from
National Bureau of Statistics (NBS). It is a secondary data extracted
from their statistical bulletin.
1.5 DEFINITION OF TERMS
Public
Finance: This is a field of economics concerned with how government
raises money, how that is spent, and the effects of these activities on
the economy and on the society.
Budget: This is a forecast of expenditure and revenue for a specific period of tie.
Revenue: This is the income of a government from all sources, used to pay for a nation’s expenses.
Recurrent revenue: This includes tax receipts and non-tax receipts within the fiscal year.
Capita revenue: This covers receipts from non financial assets used in production for more than one year.
Expenditure: This is an outflow of resource from government to other sectors of the economy, whether required or unrequested.
Recurrent expenditure: Are payments for non-payable transaction within one year.
Capital expenditure: Are payments for non-financial assets used in production process for more than one year.
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