Internally Generated Revenue in Nigeria

Prospects and Challenges

Abstract

Revenue generation is the nucleus and the path to modern development. Thus, this study assessed the challenges of internally generated revenue in Nigeria and various ways of enhancing internal revenue generation in the states. The methodology adopted for this study is the technique of content analysis and data sourced from published documents used for data analysis. The result from the analysis showed that the various methods of generating internal revenue, which include taxes, borrowing and sell of bonds by the governments are not adequate. The implication of these findings show that revenue administration agencies need to be reformed and enhanced for effective revenue generation.