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No. of pages: 66

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Abstract:

The adverse situation in the various local government areas of Nigeria has led us into this very topic. Hence, the purpose of this work is to enlighten people, mostly students in the school of financial studies on how revenue is generated in local governments, problems confronting them as regards revenue generation as well as the prospects to the problems.

However, local governments are expected to use the fund generated in embarking on income earning projects; projects that come under fee or bill charging utilities like portable water, electricity, construction of markets squares, etc.Before funds can be generated however, one must make ways of getting the funds like grants given to local governments by the Federal government.

The central government also determines the sources, extent, purposes as well as maximum duration for which borrowing is to embark upon by the local government and not just going ahead to borrow. Furthermore, local authorites in Nigeria are responsible for the establishment and maintenance of public motor parts, bad roads, market squares, etc. It is therefore recommended for students in the school of financial studies at all levels as a ground for the much needed funds internally generated revenue to facilitate projects execution by local governments.