GOVERNMENT FISCAL OPERATIONS AND SUSTAINABLE DEVELOPMENT IN THE PRE AND DURING SDGs ADOPTION ERA IN NIGERIA
Keywords:
Government annual expenditures, , Government annual revenue, Government fiscal operation, Inclusive Wealth Index, Pre and During SDG adoption era, Sustainable developmentAbstract
This study investigated the effect of government fiscal operations on achieving sustainable development in the pre and during sustainable development goals adoption era in Nigeria. Speficially, the study sought to ascertain if government annual expenditures and government annual revenue significantly affect the achievement of sustainable development in the pre and during sustainable development goals adoption era in Nigeria. The ex-post facto research design was adopted and a twenty (20) years period comprising 2005 – 2014 for the pre SDGs adoption era and 2015 – 2024 for the during the SDGs adoption era was covered. Results of the analysed data using inferential regression analysis statistical tool through e-view version 12 showed that government Annual Expenditures had positive effect on sustainable development in Nigeria in both era (the pre and during Sustainable Development Goals adoption era), though the extent of such effect was insignificant in the pre SDG adoption era but significant in the during the SDG adoption era (coefficients 2.053654 and 0.936303; p-values 0.2929 and 0.0025 versus 0.05 level of significance). . It was also discovered that government Annual Revenues had negatively and insignificantly affected the sustainable development of Nigeria in the pre and during the SDGs adoption era (coefficients coefficient -2.393412 and -0.369653; p-values 0.2621 and 0.2310 respectively). On the basis of the findings the study concludes that there is a long run relationship between government fiscal operations and the achievement of sustainable development in Nigeria even though most of the elements of fiscal operation showed negative effect. Therefore, the study recommends that government expenditures in Nigeria should be tailored towards what increases the human development and based on well thought out budgets and not based on the whims and caprices of the Chief Executives. The budget should determine the expenditures. Unnecesary passage of supplementary budgets into law at the end of each year is quite unethical. Also, Taxation should be handled with tact and wisdom such that it is not used to kill ingenuity, kill innovation and drive away investment. The government and its agencies should focus more on service delivery, and not merely parading itself as revenue maximizer.
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