EFFECT OF VITAMINS C AND E INTAKE ON BLOOD ... - EuroJournals

International Research Journal of Finance and Economics – Volume 2, Number I (2006)
like the property rate is neglected for lack of political will to put appropriate legislations in place for
local governments. Existing tax laws in the country are rather obsolete and cannot face the challenges
of the 21 st century except they are reviewed.
Vi. Conclusions and conjectures
Nigerian fiscal federalism from 1914 to date portends a bleak scenario. Most efforts have been geared
toward sharing rather than mobilizing of resources. The rents from oil have been wrongly appropriated,
looted and squandered by successive governments coupled with lack of transparency and
accountability from leaders in the three tiers of government. Public enterprises and corporations are
badly managed. Services such as electricity, telecommunication, postal, water, health and education are
epileptic and erratic despite large subventions from government. The economy remains a monolithic
one, resulting from lack of investment of the oil monies in other sectors (such as agriculture, iron and
steel industry, technology etc), which are capable of yielding revenues for the country. Consequently,
all tiers of government have consistently depended on oil rents since the 1970s.
The incursion of the military into Nigeria's politics since 1966 has aggravated the governance
crises rather than addressed them. While successive military administrations have succeeded in
breaking up the federal structure into more sub-national units, they have failed in all other areas of
governance – transparency and accountability, economic development, fiscal policy and
democratisation. The 1979, 1989, 1995 7 and 1999 Constitutions designed by the Military clearly
reflected its bias for centralization. The constitutional status of state and local governments is made
subordinate to the federal government in many respects. Their taxing powers are not only limited but
are encroached upon by the federal government at will. The federal exclusive legislative list of the
1999 Constitution contains 68 items, whereas the concurrent legislative list (federal and state
legislative powers) has only 30 items. Local government is conspicuously absent from the list. Local
government taxing powers are determined by the State House of Assembly. During military regimes,
local governments are placed under the Office of the Chief of General Staff (CGS) at the federal level
and supervised by the Governor's Office or Deputy Governor's Office at the state level. A review of the
Constitution is required to reflect a true federal system as practised in advanced countries such as the
United States and Canada.
The general misconception of governance by citizens to mean sharing and looting of national
resources complicates the matter. Revenues from oil are seen as national cake meant to be shared. A
new orientation of governance is required for both rulers and the ruled. Similarly, a re-definition of
Nigeria federal system is a sine-qua-non as one way of addressing the governance crises and fiscal
problems. Some have advocated a weak centre and strong units as a means of curbing the excesses of
the federal government. Taxing powers for States and local governments with appropriate legislative
backings are equally necessary to facilitate their autonomy within the federation. For effective federal
system, the various units comprising the federation must be allowed to control some of their affairs in
their own way with their own resources. (Awa, 1976:64). The National Revenue Mobilization,
Allocation and Fiscal Commission needs to be resuscitated and centres Its activities on revenue
mobilization rather than distribution of fiscal resources. Composition of memberships of the
Commission should reflect all stake-holders including communities where resources are extracted.
Proper accountability, transparency and honesty are necessary for sustaining democratic governance in
Nigeria. It is reiterated that all existing and potential sources of revenue must be maximally explored
and managed. In conclusion, an effective management of the symbiotic relationship between
governance and taxation is capable of producing good fiscal policy.
7The 1995 Constitution designed by late General Sani Abacha military administration has been jettisoned. That of 1989 was not allowed to operate before the Third Republic was
aborted in 1993.
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