AN OVER-VIEW OF LOCAL GOVERNMENT FINANCE IN THE NEW MILLENNIUM

AN OVER-VIEW OF LOCAL GOVERNMENT FINANCE IN THE NEW MILLENNIUM (A CASE STUDY OF IGBO – ETITI LOCAL GOVERNMENT COUNCIL)

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ABSTRACTS

This work is undertaken in response to the vexed question of mismanagement improper harnessing of revenue and ineffective control and accountability of local government finance in Nigeria. no doubt there has been a trend of mismanagement of the council revenues. This situation dove fails to the last millennium and has adversely affected grassroot development. It calls for a reversal of the friend for proper generation of revenues, for proper accountability of funds available to the councils for even development etc in the new (third) millennium.

To realize these onerous objectives this research is made it attempts at analyzing the problems and prospects of the third tier of governments in the third millennium of our Lord.

However this research work is confined to Igbo-Etiti local government council, Enugu since we cannot review the writes 774 local government councils in the country within limited scope of the reason for this confinement is obvious. It is informed by the nature and character of the academic respondent with its peculiar scope and limited resources to do otherwise within the circumstance would have been unusual – a situation analogous to stretching the skin of a rat to cover an elephant.

The project undergous for chronological chapters with the first chapter highlighting the introduction with its background, scope, significance etc.

Chapter to reviews available literature  on the problem and underscores the structure, constitutional basis and reforms of the local government systems, their revenue sources and expenditures their statutory roles etc. the project reaches its climase in the third chapter which is the over-view of Igbo-Etiti local government finance in the third millennium of our Lord as a case study of local government finance in Nigeria.

The study is wound up in the fifth chapter with summary of findings, recommendation and conclusion. This was facilitated by the presentation. Analysis and interpretation of Data in Chapter four.

 

 

 

 

TABLE OF CONTENTS

Chapter one

• Introduction 1
  
  
  
  • Background of the study 1
  
  
  • Statement of the problem 2
  
  
  • Objectives of the study 3
  
  
  • Significance of the study 4
  
  
  • Scope and limitation of the study 5
  
  
  • Statement of hypothesis 7
  
  
  • Definition of terms 8
  
  
  • Research design and methodology 10
  
  
  
  

Chapter two

• Literature review 12
  
  
  
  • What is local government? 12
  
  
  • Local government administrative structure 13
  
  
  • History of local governments in Nigeria
  
  
  
  

(local government reforms)                                               16

• Functions of local government           18

Chapter three

• An over-view of Igbo-Etiti local government finance in the new millennium 21
  
  
  
  • Igbo-Etiti local government sources of revenue in the new millennium                                                              21
  
  
  • Problem and prospects of Igbo-Etiti local government finance in the new millennium 24
  
  
  
  

Chapter four

• Presentation, analysis and interpretation 29
  
  
  
  • Test of hypothesis 32
  
  
  
  

Chapter five

• Summary of findings, recommendation and conclusion
  
  
  
  • Summary of findings 34
  
  
  • Recommendations 35
  
  
  • Conclusion 36
  
  
  
  

Bibliography                                                                     37

Appendix                                                                           39

 




CHAPTER ONE

INTRODUCTION

• BACKGROUND OF THE STUDY

Local governments form the third tier of government. The aim of creating local government is to decentralized government activities so that local governments which are nearest to the people will enable the people to participate in development process of their area.

In other to ensure their constant existence local governments need to ensure that adequate controls exist over the transactions that funds are promptly and properly accounted for and all documents and records relating to the financial transactions are accurate and complete. There are increasing demands on and expectations of the local government councils in Nigeria, while their revenue continues to be mismanaged. To prevent this trend and for significant objectives to be achieved in the new millennium there is need for proper harnessing, management, control and accountability of funds available to the councils.

In addition constitutional mechanisms to autonomy, abolition joint accounts and development countries. In this analysis Igbo-Etit local government is our case study. Obviously we have been compelled by limited resource to confine this review to one out of the 774 local government in Nigeria and this forms the fulcrum of this review. Moreover the fact that this work is an academic project with its peculiar characteristics and scope make this choice quite germane.

Furthermore, the finance available to the local government is very low and if specified objectives are to be achieved there must be proper harnessing of this resources, therefore must be proper control of revenue generated and proper accountability of funds available to them. I equally looked at local government sources of revenue, the manner and effective collection and disbursement of funds.

 

• STATEMENT OF PROBLEMS     

The main targets of this study is to determine the followings:

1. Whether the financial management procedures carried out in local government are adequate and effective in meeting the objective of the local government.


2. Whether laid down control procedures are complied with.

• To identify the major problems methodology in the implementation of financial administration procedures.

Sources of council revenues and expenditure and most importantly the control and ac