Improved Revenue Generation Research Articles

A Crucible of IoT Applications and Services and the Gambia Revenue Generation

The study investigated the relationship between Internet of Things (IoT) applications and services and The Gambia revenue generation, tax evasion and tax compliance respectively. It identified the challenges impeding the adoption and implementation of IoT applications and services in the revenue generation processes by the Gambia Revenue Authority (GRA). Both primary and secondary data were used in the study. Questionnaire and interview were used to generate the primary data. The study population (2188) comprised senior and mid-tier management personnel from the Ministry of Finance and Economic Affairs (MoFEA), staff members of The Gambia Revenue Authority, and the corporate taxpayers. The sampling approach used in this study was multistage. Personnel from the MoFEA and GRA were purposively selected, while corporate taxpayers were randomly selected. Their populations were then divided into various strata to ensure fair representation. Respondents were randomly picked from each stratum. To ensure an appropriate sample size, 327 individuals were selected. Data obtained were analysed using multiple regression, correlation coefficient, and simple regression analysis. Qualitative analyses were done on the interview responses. The study revealed that connectivity, networking, and data collection improve revenue generation, while increased IoT adoption and higher data utilisation and infrastructure investment reduce tax evasion and boost tax compliance. However, implementation of the IoT has encountered challenges in the form of technological barriers, financial constraints, and skill gaps. In view of these, investment must be made in enhancing connectivity and networking infrastructure, training staff in data analytics and cyber-security to optimise IoT data usage and boost IoT adoption through inducements and awareness programs. The study concluded that IOT applications and services are in the right direction to revolutionise The Gambia revenue generation.

Fuel Subsidy Removal and Macroeconomic Performance in Nigeria

The government of Nigeria removed fuel subsidy on the premise that fuel subsidy is a drain on government finances, causes macroeconomic instability, and generates adverse social welfare in the country. The objective of this paper is to examine the effect of fuel subsidy removal on macroeconomic performance in Nigeria. The paper adopts a desk review method and obtains secondary data from the documents of reputable organizations such as the Central Bank of Nigeria, the National Bureau of Statistics, and the Nigerian National Petroleum Company Ltd. Descriptive statistics was employed for the analysis of data. The study found out that the removal of fuel subsidy resulted in the increase of premium motor spirit price across the country generating inflationary trend. It improved revenue generation for government expenditure, curtailed cross border smuggling and corruption inherent in the downstream sector of the petroleum sector. It was based on these findings that the paper recommends a proper coordination of the fiscal policies and the Central Bank of Nigeria to effectively manage the macroeconomic effect of the subsidy removal. It is also important for the government to develop an effective communication strategy to engage stakeholders on the necessity for the subsidy removal and put in place an effective palliative measure to alleviate the attendant adverse conditions that it generated.

The Role of Technology in Improving Public Sector Performance in Nigeria

Over the years, the public sector in Nigeria has faced various challenges, including bureaucracy, corruption, and inefficiencies in service delivery, which have dampened the efficiency of the public sector, especially in revenue generation. However, the rapid advancement of technology globally, the increasing rise of globalization, and the contagion effect across the globe have led to the adaptation of technology to a great extent in developing economies. Nigeria, as a developing economy, relies on the Western world for most of its technology, which is accompanied by a huge cost of the transfers, and the country is left with the dilemma of whether technology truly promotes public sector efficiency and growth. Against this backdrop, this study seeks to investigate the impact of technology on public sector efficiency in Nigeria. The study employed monthly data ranging from 2010 to 2022 and was extracted from the database of the Central Bank of Nigeria. The independent variables are Information, Communication, and Technology which served as a proxy for Technology, while Foreign Direct Investment, Exchange Rate, and Inflation were also included as the control variables in the model. While public sector efficiency which is proxied by public revenue represent the dependent variable. The result of the unit root showed that the variables are stationary at levels and first difference, hence the use of the ARDL model which established a short-run relationship among the variables. The result, in the long run ARDL showed that technology had a positive and significant impact on public sector efficiency. The study, therefore, recommends that the Government needs to intensify efforts in the process of acquisition and implementation of technology in the public sector to improve revenue generation for the Government and, invariably, output. A large portion of government budgetary allocations should be channeled more toward adequate development of IT infrastructures to increase efficiency. Ultimately, the Monetary and Fiscal Authorities should collaborate in churning out policies that will improve economic parameters such as exchange rate, interest rate, Inflation, output, etc.

Non-revenue Water Reduction

SCADA systems are essential for water management in smart cities. They provide real-time monitoring, control, early detection of issues, efficiency improvements, enhanced resilience, and data-driven decision support. By leveraging SCADA technology, water utilities can optimize operations, reduce water losses, ensure a reliable supply, and contribute to sustainable water management in smart cities. Non Revenue Water (NRW) refers to water that is produced and lost before it reaches consumers or generates revenue for water service companies (WSCs). The summary highlights the importance of reducing non-potable water as it leads to increased water availability and revenues for WSCs. This is done by installing flow meters and water pressure measuring devices on the water sources or the entrances and exits of the isolated area, then calculating the amount of water feeding the area and the amount of water accounted for, and from it the amount of non-accountable water can be calculated, and work to reduce it by detecting leakage - Detecting stealth connections and installing water meters that work efficiently. The reduction of commercial losses, which includes issues like inaccurate billing or theft, can significantly improve revenue generation. Similarly, reducing physical/real losses, such as leaks or inefficient distribution systems, allows WSCs to postpone capital investments needed for water source development. To address this issue, departments such as Network Operations, Geographic Information Systems (GIS), Hydraulic Analysis, and the commercial sector must collaborate to estimate and identify the different components contributing to NRW and water loss reduction.

An Electronic Payment System for Revenue Collection in the Kassena Nankana Municipality

Traditionally, revenue collection in Kassena-Nankana Municipal Assembly (KNMA), as in Ghana, was manual, with some ICT systems employed recently.This study designed an E-payment system for revenue collection in the KNMA. The research focused on the development and implementation of an electronic payment system, to facilitate revenue mobilization. The study utilizes tools such as HTML, CSS, PHP, JavaScript, MYSQL, SQL, and other resources like VS Code, and payment APIs for the development of the system as well as azure key vaut and secureauth for incription and muti-factor authentication( MFA).As part of the research, it is revealed that, there is a strong willingness among people to embrace electronic payment methods for their taxes, finding it convenient to pay via the internet from anywhere. The E- system developed during this study demonstrated the flexibility expected of an Electronic Payment System, allowing users to create and update accounts, make payments in instalment or in full in any location using their phones. The study establishes a positive impact between the electronic systems and improved revenue generation processes which support the notion that there is indeed a correlation between ICT systems and revenue generation processes, against the notion that there is no correlation.

An approach to prosumer modeling and financial assessment with load clustering algorithm in an active power distribution network

The trend towards decentralized energy generation, particularly evident at the final consumer level, is influencing the electric industry. Although this transformation is more tailored to the needs of individual prosumers and microgrids than large consumers and industries, it remains a significant element in the evolving landscape of energy systems, where prosumers can obtain financial benefits through specific strategies. However, existing literature largely perceives prosumers as being linked to photovoltaic-home-battery energy storage systems using the average historical time-interval load profiles of various countries without analyzing load patterns. Moreover, the existing literature shows that deterministic approaches are unsuitable for analyzing load patterns due to possible biased results. This study identifies and analyzes load patterns through clustering and demand curve analysis, using K-means clustering and Gaussian mixture modeling techniques to address limitations. New strategies of prosumer dispatch models for six load patterns are proposed for improved revenue generation from excess energy: (1) dispatch model with optimum self-consumption and (2) dispatch model with a peak-shaving algorithm. Model (1) provides moderate profits, whereas model (2) provides a higher profit and self-sufficiency rate. The model proposed by this study optimizes energy usage, while self-consumption is shown to vary considerably between load patterns.

OIL AND NON-OIL REVENUE AND THE NIGERIAN ECONOMY

This study examined the effect of the effects of Oil and Non-Oil revenue (ONOR) on the Nigerian economy from the period of 1994 to 2021 (28years). Specifically, the measures of Oil and Non-Oil revenue, namely; Total Oil Revenue (TOR), Total Non-Oil Revenue (TNOR) and Total Revenue (TR) were analysed in relation Nigerian economy proxied Real Gross Domestic Product (RGDP). In a bid to actualize the research objectives, data was collected from the secondary source of data (time series data), from the CBN statistical bulletin and Annual Report for the period 1994-2021’. The data were analysed using descriptive statistics, followed by the correlation analysis in bids to ascertained the co-movement of the measures ONOR {TOR, TNOR and TR} in relation to the Nigerian economy proxied with RGDP and several diagnostics tests conducted in the bids to ascertain if the data are suitable for regression analysis with the aid of E-VIEW version 9. 0. It showed that; TOR with an associated p-value (sig. value) of 0.0000. This implies that TOR has a major significant effect on RGDP; TNOR with an associated p-value (sig. value) of 0.0097. This implies that TOR positively and significantly affects RGDP in Nigeria and TR with an associated p-value (sig. value) of 0.0000 in the multiple regression results. This shows that the impact of TR on RGDP is significant. The results show that the measurements of ONOR {TOR, TNOR and TR} used in this research has significant effects on the RGDP in Nigeria. Therefore, the study came to the conclusion that ONOR have a considerable effect on the expansion of the Nigerian economy. Recommended that improve revenue generation through non-oil operations, it is high time the government looked into the development of the sector which has wider opportunities for growth. This can be achieved through diversification to create more avenues through which the government can generate revenue to meet its financial needs.
 Keywords: Oil, Non-Oil, Revenue, Economy and Government.

Enhancing provincial government’s revenue generation for effective service delivery

Background: The Constitution of South Africa assigns the duty of providing basic social services and administering social security grants and welfare schemes to the various provinces that fund their expenditure from the allocation received from the national government and provincially raised revenue. The provincial equitable share (PES) formula is employed to allocate revenue to provinces based on the size of the province’s population. Provincial governments rely heavily on the budget transfers from the national treasury, as the revenue that is raised at the provincial level is inadequate to fund expenditure but the revenue received through the PES has been declining and exerting additional strain on service delivery in the Eastern Cape Province.Aim: This article aimed to analyse provincial own receipts (revenue) and the factors that affect revenue generation in the Eastern Cape province of South Africa. The article further aimed to utilise the results to generate recommendations as to how the province can enhance provincial government revenue.Setting: Eastern Cape province, South Africa.Methods: This research utilised quantitative, descriptive statistics.Results: The observations indicated that improved economic growth, household incomes and employment opportunities will not necessarily lead to improved revenue generation in the province. Authorities cannot rely on improving economic variables alone to increase such revenue and sound administration is required to enhance revenue generation in the Eastern Cape Province.Conclusion: The Eastern Cape Province needs to enhance the efficiency of the revenue collection strategies whilst simultaneously broadening the revenue base.

Modelling Customs Revenue in Ghana Using Novel Time Series Methods

Governments across the world rely on their Customs Administration to provide functions that include border security, intellectual property rights protection, environmental protection, and revenue mobilisation amongst others. Analyzing the trends in revenue being collected from Customs is necessary to direct government policies and decisions. Models that can capture the trends being purported from the nominal (nonreal) tax values with respect to the trade volumes (value) over the period are indispensable. Predominant amongst the existing models are the econometric models (the GDP-based model, the monthly receipts model, and the microsimulation model), which are laborious and sometimes unreliable when studying trends in time series data. In this study, we modelled monthly revenue data obtained from the Ghana Revenue Authority-Customs Division (GRA-CD) for the period January 2010 to December 2019 using two traditional time series models, ARIMA model and ARIMA Error Regression Model (ARIMAX), and two machine learning time series models, Bayesian Structural Time Series (BSTS) model and a Neural Network Autoregression model. The Neural Network Autoregression model of the form NNAR (1, 3) provided the best forecasts with the least Mean Squared Error (MSE) of 53.87 and relatively lower Mean Absolute Percentage Error (MAPE) of 0.08. Generally, the machine learning models (NNAR (1, 3) and BSTS) outperformed the traditional time series models (ARIMA and ARIMAX models). The forecast values from the NNAR (1, 3) indicated a potential decline in revenue and this emphasizes the need for relevant authorities to institute measures to improve revenue generation in the immediate future.

Impact of Postgraduate Students Dropout and Delay in University: Analysis Using Machine Learning Algorithms

Cost of education and economic background are some factors that influence student dropout from postgraduate studies. However, high dropouts do not affect the students only, but also impact university revenue. This research analyzes various literature on machine learning algorithms and applies suitable algorithm to produce a prediction model. This study indicates that decision tree and Random Forest algorithms have better accuracy, class recall, and class precision than Naïve Bayes. Therefore, the prediction model uses the Decision Tree algorithm to provide various approaches to maximize revenue in universities. The findings indicate high dropout rates negatively impact university revenue, while low rates influence revenue positively. Other aspects like grants received by students, the number of research publications, anddegree level also positively or negatively impact revenue if the dropout rate is medium. A complete understanding of this prediction model can identify and minimize the risk of early withdrawal or delayed graduation and improve revenue generation by universities.

Electronic Corporate Tax, Aggregate Federally Collected Tax Revenues and Economic Growth: A Multivariate VAR Approach

There is the dearth of empirical evidence on the relationship between corporate tax, aggregate federally collected tax revenues and economic growth, predominantly in the post-electronic tax era. This study seeks to assess whether corporate taxes affects aggregate federally collected tax revenues and economic growth using quarterly time-series data as extracted from the official websites of the Federal Inland Revenue Service, National Bureau of Statistics (NBS) and Central Bank of Nigeria (CBN) Statistical Bulletin covering during the period 2015q1-2020q1. The Multivariate Vector Auto Regression result revealed that corporate taxes positively and significantly affect aggregate federally collected tax revenue; company income tax (CIT) and economic growth (RGDP) were statistically significant while petroleum profit tax (PPT) is statistically insignificant to economic growth (RGDP). In view of this result, it is recommended that the Nigerian government should diversify measures aimed at jettisoning leakages in the administration of corporate tax, particularly petroleum profit and company income taxes since they contribute significantly to the revenue base of the country. Moreover, more measures that are stringent should be put in place to revitalize and fully automate the tax systems for improved revenue generation. The study is limited to the post-electronic tax system payment in Nigeria which was occasioned by tremendous improvements in the tax administration system in the Country.

The Conundrum and Legality of Stamp Duties Collection in Nigeria

The dwindling oil revenue to Nigeria necessitated the need to improve revenue generation. The Stamp Duties is seen as “a new gold”, however, the crisis between the FIRS and NIPOST might pose a threat. The study examined the provisions of the Stamp Duties Act and some relevant laws to ascertain the agency with the jurisdiction to collect and administer duties in Nigeria. It was found that FIRS has the authority to manage and administer duties and other taxes in Nigeria and not NIPOST. It was recommended that tax laws should be harmonised and postage stamps and stamp duties should be clearly defined to avoid ambiguity.

To Push or To Pull? In a Post-COVID World, Supporting and Incentivizing Antimicrobial Drug Development Must Become a Governmental Priority.

The COVID-19 pandemic has refocused attention worldwide on the dangers of infectious diseases, in terms of both global health and the effects on the world economy. Even in high income countries, health systems have been found wanting in dealing with the new infectious agent. However, the even greater long-term danger of antimicrobial resistance in pathogenic bacteria and fungi is still under-appreciated, especially among the general public. Although antimicrobial drug development faces significant scientific challenges, the gravest challenge at the moment appears to be economic, where the lack of a viable market has led to a collapse in drug development pipelines. There is therefore a critical need for governments across the world to further incentivize the development of antimicrobials. Most incentive strategies over the past decade have focused on so-called “push” incentives that bridge the costs of antimicrobial research and development, but these have been insufficient for reviving the pipeline. In this Perspective, we analyze the current incentive strategies in place for antimicrobial drug development, and focus on “pull” incentives, which instead aim to improve revenue generation and thereby resolve the antimicrobial market failure challenge. We further analyze these incentives in a broader “One Health” context and stress the importance of developing and enforcing strict protocols to ensure appropriate manufacturing practices and responsible use. Our analysis reiterates the importance of international cooperation, coordination across antimicrobial research, and sustained funding in tackling this significant global challenge. A failure to invest wisely and continuously to incentivize antimicrobial pipelines will have catastrophic consequences for global health and wellbeing in the years to come.

Economic and Socio-Environmental Benefits of Dry Beneficiation of Magnetite Ores

In our previous studies, we demonstrated the performance of novel superfine crusher and pneumatic planar magnetic separator as energy-efficient technologies for dry processing of magnetite ores. The present study investigates the economic and socio-environmental benefits of applying these technologies in conceptual dry magnetite ore processing flowsheet. The outcome of the study is compared with that of a conceptual wet processing flowsheet for the same ore. The cost estimations used are based on the Brook Hunt C1 methodology whilst revenue estimations are based on the Platts Iron Ore Index specification. The demonstrated economic and socio-environmental benefits show that dry processing flowsheet offers significant energy and cost savings and improved revenue generation compared with the wet process flowsheet. These findings are vital to the magnetite industry, particularly in water- and energy-scarce regions as a benchmark for future studies aimed at deepening and expanding the knowledge base of dry beneficiation of magnetite ores.

Estimating a Fiscal Reaction Function for Nigeria

The study examines the determinants of fiscal balance and the impact of the selected macroeconomic variables on the primary balance of government. It aims to estimate the fiscal reaction function for Nigeria and determine whether the implementation of fiscal policy is sustainable in the long-run. A Fiscal Reaction model was developed and ARDL technique was used to establish the relationships and interactions among the variables. The study investigated whether the fiscal measures pursued by the government from 2000:Q1 to 2018:Q4 was adequate in addressing the accumulation of huge debt. The analysis of the stylized facts reveals that the government had continued to run budget deficits for almost the entire period, except for a few period. The public debt to GDP, which is a major determinant of the primary balance, is negative and significant implying that a fiscal rule that encourages a strong reduction in debt-to-GDP levels would result in substantial pressure for Nigeria to run large primary surpluses in the future. The CUSUM and CUSUMSQ tests show the recursive residual plots of the fiscal reaction function are within the 5 per cent critical lines, hence, providing evidence of stable fiscal reaction function for Nigeria. The study thus, recommends that, apart from the urgent need for the fiscal authorities to adopt urgent reforms to discourage huge debt accumulation, improve revenue generation capacity and more fundamentally, expenditure switching to improve the quality of expenditure, the transition from primary deficits to primary surpluses should follow a gradual process.

Treasury Single Account System and Utilization of Internally Generated Revenue in University of Ilorin, Kwara State, Nigeria

This study investigated the impact of TSA on revenue generation and utilization in the University of Ilorin. Since the implementation of Treasury Single Account (TSA) in 2015 by the present administration in government with the intention to control financial mismanagement which will consequently improve government revenue and economic growth; stakeholders, researchers, and the general public are interested to know the extent to which these objectives have been met. This study empirically examined the extent to which TSA has an effect on total revenue (Grant+IGR) and its utilization. Both the interview and secondary data were utilized for this study. The interview session was for the staff of the Bursary Department of the University. Total fund allocated (Grant+IGR) and its utilization at the University of Ilorin for the period 2012 – 2017 was collected from the Unilorin Annual Reports. The data were divided into two periods: Pre TSA period (2012 to 2014) and Post TSA period (2015 to 2017). A pre-post analysis (difference in means test) was carried out using SPSS version 20. Findings show that the implementation of the Treasury Single Account has improved revenue generation in the University. However, further findings revealed that University’s revenue utilization improved after the implementation of TSA from N6, 691,451,094.41 billion to N8, 928,707,239.14 billion. It was recommended that university administrators, should, as a matter of importance, device other means of boosting their internally generated revenue. This should, however, be done within the ambit of the law.

Patient Segmentation: Adjust the Production Logic to the Medical Knowledge Applied and the Patient's Ability to Self-Manage-A Discussion Paper.

This discussion paper argues that population segmentation according to healthcare needs and risks—the usual approach—might help to identify patients for targeted action, but does not inform how to design efficient service delivery. In other service industries customer segmentation is typically done based on customer preferences. Products or services are customized and marketing strategies designed to reach the most profitable customers and improve revenue generation. This paper presents an alternative approach, in which patient needs are matched with a production logic derived from the medical knowledge needed to manage the health problem, and patients' willingness and ability to self-manage and co-produce services. Seven segments are identified: healthy persons; persons with incidental needs; persons with chronic conditions; persons with multiple health problems and illnesses (often elderly); persons needing precise elective interventions; persons needing qualified accident and emergency services; and tertiary care patients. Designing care to suit these patient segments will use resources more efficiently, with better prospects of favorable medical outcomes, a higher service quality, less complications, and improved patient safety.

Health Care Financing as a Strategy for Cash Management in Public Hospitals: A Case Study of Moi Teaching and Referral Hospital in Uasin Gishu County, Kenya

Healthcare financing been met with increasing and imposing demands for better and improved management of public funds. The cost of healthcare in Kenya remains a problem with slightly over 40% of the households unable to access health due to monetary challenge. Healthcare for the populace has reduced due to under-financing of the health sector. Opposing arguments have cited problems in management of available funds as facing healthcare financing. The main intention of this research was to investigate the effect of healthcare financing on the cash management at Moi Teaching and Referral Hospital, Uasin Gishu County, Kenya. The study adopted an exploratory survey design of 43 Financial and health service experts from MTRH. The study utilized a sample size of 43 respondents applying census sampling. Interview schedules and questionnaires were employed as data collection instruments. The study established that equity financing was a method of cash management in public hospital. On healthcare cash management, private insurance provide finances to hospital; can be accessed by all patients however their funds are not reliable sources for paying user service charges. In relation to debt financing, the enquiry established that there was reduced allocation of funds by the government, government financed treatments provide efficient cash management to some extent and are adhered to a great extent. Concerning the suitable cash financing for use in referral Hospitals, the study established that there was a need of hospitals to plan and organize investments to facilitate more cash incomes for its operations. Hospitals should also upgrade audit systems to enable effective cash management and monitoring of cash practices in the Hospital. The study commended that since the hospital depends on the feasibility of the health care system financial accuracy of the Hospital should be emphasized. The study also recommended that more people should be encourage to take up Insurance and prepayment schemes, in addition to the existing National Hospital Insurance Fund since it cushion them toward out of pocket payment for hospital bills and improve revenue generation potential of the user fee programme of the Ministry of Health.

Social Internal Control Mechanisms and Revenue Generation in RiversState Internal Revenue Service (RIRS)

This study was meant to examine the effects of internal control mechanisms on revenue generation in Rivers State Internal Revenue Service (RIRS) and was limited to within the time frame of 2007 to 2015. Primary sources of data were gotten and utilized in this study. Results of the analysis of the data revealed that significant relationship exists between internal control and revenue generation in RIRS. The study showed that effective application of Information and Communication Technology is vital in revenue collection in RIRS. Also, the issuance of Tax Identification Number (TIN), Internal Audit and Segregation of Duties as part of the internal control mechanisms were also examined in this study and found them to contribute to improved revenue generation in RIRS as well as blockage of leakages. The study revealed that these mechanisms are periodically reviewed in order to ensure their continuous relevance according to the dynamic nature of the agency and that internal control mechanisms are not a replacement for good management but vitals tools for managerial efficiency. The findings of this study provided the basis for recommendations such as steady update, upgrade and expansion of ICT facilities in the agency, prosecution of tax evaders, extensive monitoring, enlightenment campaigns and customers’ education, and adequate customers’ complaints and feedback mechanisms.

English

This paper examined the effect of tax identification number on revenue generation in south-west, Nigeria. The ex-post facto research design was adopted and the population covered all the states in the Southwest geopolitical zone of Nigeria, out of which three states namely Ekiti, Osun and Ondo States were selected as the study elements using simple random sampling technique. Quantitative secondary data were sourced from the State Board of Internal Revenue of the sampled states spanning from 2008-2017 for a period of 10 years segregated into Pre-TIN (2008-2012) and post-TIN (2013-2017). The analysis used mean and sampled paired t-test to reveal that there was a positive and significant difference between internally generated revenue of the sampled states before and after the introduction of TIN. The paper concluded that TIN has improved revenue generation in Southwest, Nigeria. The study recommended that intermittent checks of all the platform related to TIN should be carried out so as to detect and prevent abuse and other fraudulent activities. It was equally recommended that regulatory agencies of the government should enlighten taxpayers on the benefit of Tax Identification Number (TIN) to improve revenue generation.   Key words: Tax identification number, revenue generation, taxpayers.