What are the 5 items of Government expenditure in Nigeria?
What are the 5 items of Government expenditure in Nigeria?
Answer: Government expenditure items, whether recurrent or capital, are usually classified into four major groups, namely: administration, economic services, social and community services and transfers.
What are the main items of expenditure of government?
Government spending or government expenditure can be divided into three primary groups, government consumption, transfer payments, and interest payments.
- Government consumption are government purchases of goods and services.
- Transfer payments are government payments to individuals.
What is Nigeria Government expenditure?
Nigeria’s total national government expenditure amounted to around 9.7 trillion Naira (some 23.7 million U.S. dollars) by the end of 2019….Nigeria’s total government expenditure from 2015 to 2019 (in billion Naira)
| Characteristic | Expenditure in billion Naira |
|---|---|
| 2018 | 7,357 |
| 2017 | 6,022 |
| 2016 | 4,814 |
| 2015 | 4,650 |
What are the impact of government expenditure on economic growth in Nigeria?
From the Keynesian thought, public expenditure can contribute positively to economic growth. Hence, an increase in the government consumption is likely to lead to an increase in employment, profitability and investment through multiplier effects on aggregate demand.
What is the meaning of recurrent expenditure?
Recurrent expenditure – all payments other than for capital assets, including on goods and services, (wages and salaries, employer contributions), interest payments, subsidies and transfers. A good example would be building of schools, hospitals or roads.
What are the two forms of government expenditure?
Recurrent expenditure – all payments other than for capital assets, including on goods and services, (wages and salaries, employer contributions), interest payments, subsidies and transfers. Capital expenditure – payments for acquisition of fixed capital assets, stock, land or intangible assets.
What are reasons for increase in government expenditure?
11 Main Causes of Growth of Public Expenditures – Explained!
- Income Elasticity and Increase in Per Capita Income:
- Welfare State Ideology and Wagner’s Law:
- Effects of War and the Need for Defence:
- Resource Mobilisation and Ability to Finance:
- Inflation:
- The Role of Democracy and Socialism:
- The Urbanisation Effect:
What is the impact of government expenditure?
From the long-run coefficients, government recurrent expenditures have significant negative impacts on economic growth over the period of the study such that if all other factors are held constant, a percent increase in the recurrent spending of government is expected to reduce economic growth by about 0.28%.
What are the effect of government expenditure on economic growth?
How much does the government spend in Nigeria each year?
Government Spending in Nigeria averaged 1056986.64 NGN Million from 2010 until 2020, reaching an all time high of 2339712.81 NGN Million in the second quarter of 2020 and a record low of 609792.40 NGN Million in the fourth quarter of 2017.
What are the general provisions of the Federal Republic of Nigeria?
Chapter I General Provisions Part I Federal Republic of Nigeria 1. Supremacy of constitution. 2 The Federal Republic of Nigeria. 3 States of the Federation and the Federal Capital Territory, Abuja. Part II Powers of the Federal Republic of Nigeria 4. Legislative powers. 5 Executive powers. 6 Judicial powers 7. Local government system.
What are the sources of government revenue in Nigeria?
Sources of government revenue in Nigeria can be via mining activities such as: Royalties on mineral resources e.g tin, gold, limestone, etc. Revenue from oil sales: Definitely top oil and gas companies in Nigeria pay tax to the federal government. 3. Earnings and Sales
What is government spending or expenditure?
Government spending or expenditure includes all government consumption, investment, and transfer payments. It could be government acquisition of goods and services intended to create future benefits, such as infrastructure investment or research spending. These are expenditures of capital nature.
