Impact of Border Close on Revenue Generation in Nigeria

Abstract

This study seeks to extensively examine the impact of border closure on revenue generation in Nigeria, though research on this subject matter in previous times is not very extensive, it is a matter of national importance, the study covers emerging issues and its impact on revenue generation, data and relevant information used in the study was mainly sourced online. Amongst major recommendations made after the findings to this research include but not limited to: Machinery should be set to draft- laws with expediency for possibly legislation. The federal and state government should ensure that machinery be in place to generate more revenue internally to enable them do more development project. Most of the states and local government authorise should not only depend of the federal allocation. Training and re-training for the revenuer officials should be organised to enable them meet there challenges of the new millennium. Communication gadget, vehicle and motor cycles should be provided for revenue personnel. Nigeria’s economy declined in 2015 and further contracted by 1.6% in 2016. This was largely due to a worldwide drop in the price of crude oil in 2014. The country has since fallen on hard times. Foreign direct investment inflows have plunged by 55% . There have also been shortages of foreign exchange which have put the Naira in a tailspin, causing the government to implement stringent foreign exchange controls. The close of border is to encouraged made in Nigeria products and services and also inch rice the rate of productivity in the country Nigeria. Before for now the rate of money could not be able to speculate but now an average Nigeria farmer can generate to suit his or her bills.