Treasury Single Account and the Challenges of Revenue Mobilization in Nigeria

Abstract

The study examines the interplay between Treasury Single Account (TSA) and challenges of revenue mobilization in Nigeria. Upon reviewing relevant literature, it is the views of the study that pre-existing public finance management structures were largely ineffective, thus sustaining a regime of pervasive fiscal misconducts and leakages in the public sector. Adopting e-governance as a framework for analysis, it goes on to argue that implementation of Information Communication Technology (ICT) enabled TSA policy has injected efficiency in the area of revenue pooling and fostered efficient fiscal oversight mechanism. However, reluctance of certain institutions to implement the policy, secrecy shrouding the operation of the scheme and shortage in e-infrastructure are identified as some of the notable challenges bewildering public finance management in Nigeria. While the TSA policy has improved the revenue pooling capacity of the Nigerian state, the need for complimentary fiscal policy cannot be downplayed. Moving on, the study reiterates the need for the FG to establish and set up the necessary e-infrastructure that will promote and enable the widespread application.