The objective of this paper is to discuss the objectives, pros and cons of a Treasury Single Account recently introduced by the Buhari administration. The adoption of a Treasury Single Account (TSA) by the federal and some state governments is seen by many as aimed at plugging loopholes in the Nigerian Financial System. A TSA is a unified structure of government bank accounts enabling consolidation and optimal utilization of government cash resources. It is a bank account or a set of linked bank accounts through which the government transacts all its receipts and payments and gets a consolidated view of its cash position at any given time. This presidential directive would end the previous public accounting situation of several fragmented accounts for government revenues, incomes and receipts, which in the recent past has meant the loss or leakages of legitimate income meant for the federation account. It would be recalled that President Muhammadu Buhari had earlier promised state governors at the inaugural meeting of the National Economic Council, NEC, in June, that all revenues prescribed for lodgement into the federation account will be treated as such under his watch and that he will ensure strict compliance with all relevant laws on accounting, allocation and disbursement. The paper explores the various gamut of TSA and concludes by positing that for an administration that has unwritten social contract signed with Nigerians in terms of service delivery; it has the obligation to aggregating states' resources to provide services and amenities promised to the people. Any step taking in the direction aimed at plugging leakages in revenue generating agencies should be seen as a step in the right direction.
Agriculture has remained an important aspect of any economy. Viable agricultural programmes and activities in any polity are capable of sustaining the food supply and reserves needed for the welfare of the citizens. But in Nigeria, Agriculture is despised as able bodied young people do not have interest in Agriculture. Climate change and clashes between herdsmen and farmers and the activities of Boko Haram sect have added to food insecurity challenges in the polity as population displacement, death, and non-cultivation of farmlands and the burning down of farm produce have reduced the quality and quantity of food demand. Although the Federal Government had assured Nigerians that the fear over imminent food crisis in 2013 was unfounded, many Nigerians, especially concerned stakeholders, are not persuaded that the means and ways being devised by government at all levels can possibly address the challenge. This paper addresses the causes and consequences of these challenges and concludes by positing that without addressing these challenges, food insecurity will persist in Nigeria for a long time.
There has been renewed interest in food security related issues in many developing nations. This revival is occasioned by the dramatic rise in food prices across the globe occasioned by increased global food demand, diminishing global food reserves, erratic weather patterns, increased cost of petroleum products and illegal land use among others. In Nigeria, several agricultural policies have been formulated to curtail food security challenges. Unfortunately, these policies have not yielded the desired results of increase food production. This paper, thus, explores the various challenges confronting food security in Nigeria with a view of highlighting the reasons that account for these problems. The paper also suggests ways of address these challenges and concludes by positing that the task of feeding the populace adequately constitutes an increasing challenge, requiring the coordinated efforts and interaction of food producers, transporters, market operators and a myriad of retailers.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.