On the Effect of Implementation of Treasury Single Account on Economic Growth in Nigeria
- January 4, 2019
- Posted by: RSIS
- Category: Social Science
International Journal of Research and Innovation in Social Science (IJRISS) | Volume II, Issue XII, December 2018 | ISSN 2454–6186
On the Effect of Implementation of Treasury Single Account on Economic Growth in Nigeria
Bilesanmi, A. O.
Department of General Studies, Petroleum Training Institute, Effurum-Delta State, Nigeria
Abstract:-This study examines the effect of implementation of treasury single account on economic growth in Nigeria. The economic variables considered in this study were real Gross Domestic Product (GDP), recurrent expenditure, and total expenditure. The study employed secondary source of data collection. The statistical tools employed were the time series analysis, Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test and Chow test. Findings showed that all the variables considered in the study were stationary and were used for making future forecast of the series. It was observed that real GDP has an increasing trend over the year except for the slight decline in 2016 which can be attributed the recession faced by the country in that period. It was found that the model (6) was adequate for estimating real GDP since the model obtained R-square value of 93.1%. Result showed that the implementation of TSA in 2015 has significant impact on real GDP in Nigeria. Findings revealed that model (7) was adequate for estimating recurrent expenditure in Nigeria with R-square value of 96.9%. Further result revealed that the implementation of TSA in 2015 has significant impact on recurrent expenditure in Nigeria. It was found that the model (8) can explain about 93.4% of the total variation in total expenditure with R-square value of 93.4%. This result implies that the implementation of TSA in 2015 does not significantly impact on total expenditure in Nigeria.
Keywords: Gross Domestic Product, recurrent expenditure, total expenditure, treasury single account
I. INTRODUCTION
Since the emergence of the forth republic in Nigeria, the nation has been battling with how to cope from corruption and cases of money laundering by mostly government functionaries and high place private individuals. This lead to the establishment of antigraft agencies such as the independent corrupt practices and other related offences commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) saddled with the task of checkmating corrupt government and private officials in Nigeria.
