Adoption of Treasury Single Account (TSA) and Economic Growth of Nigeria: A Reappraisal

Abstract

The study reappraised the effect of Treasury Single Account (TSA) on economic growth of Nigeria. The major objective was to ascertain whether there is a significant relationship between Federal Government total revenue within the TSA period and the Gross Domestic Product of Nigeria. Other objective was to investigate the difference existing between Federal Government total revenue Pre and Post TSA periods in Nigeria. The research design for this study was expo-facto. The work adopted secondary data generated from CBN Statistical Bulletin. The data used were those of Federal Government total revenue and Nominal GDP from 1981_ 2021. Ordinary Least Square analysis techniques was employed and run on E- views 10 for the regression analysis while T-test was adopted for the Pre-Post analysis in addition to other diagnostic techniques applied in the study. Results showed that there is a significant relationship between FG total revenue within the TSA period and GDP; it was also revealed that there is a significant difference in FG total revenue between the Pre TSA and Post TSA periods. This study recommended among others that Implementation of Treasury Single Accounts (TSA) policy should be sustained across all sectors of the economy; no doubt it will improve economic growth of the country and also that other loopholes should be avoided through TSA to further enhance the GDP of the country.

Keywords: Total revenue, Gross Domestic Product, Treasury Single Account, Economic growth, Regression analysis

DOI: 10.7176/RJFA/14-16-01

Publication date:August 31^st 2023