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/ Africa / Nigeria Nigeria - Public finance The federal government is responsible for collecting taxes on income, profits, and property, as well as import and export taxes and excise duties. It also runs the national transportation system. The petroleum sector provides over 83% of budgetary revenues. A large share of these revenues is redistributed to state governments. The budget is consistently in deficit. In 1998, debt financing amounted to $4.4 billion, but the 1999 budget provided for only $1.7 billion. Public investment flourished during the oil boom years of the 1970s. When the oil market prices collapsed in the 1980s however, the Nigerian government maintained its high level of spending, thus acquiring substantial foreign debt. Although privatization efforts began in 1986, increased government spending outside the official budget since 1990 has damaged public finance reform. As a result, the federal deficit increased from 2.8% of GDP in 1990 to 9% in 1998. Privatization has

Meaning: In public finance we study the finances of the Government. Thus, public finance deals with the question how the Government raises its resources to meet its ever-rising expenditure. As Dalton puts it,” public finance is “concerned with the income and expenditure of public authorities and with the adjustment of one to the other.” Accordingly, effects of taxation, Gov­ernment expenditure, public borrowing and deficit financing on the economy constitutes the subject matter of public finance. Thus, Prof. Otto Eckstein writes “Public Finance is the study of the effects of budgets on the economy, particularly the effect on the achievement of the major economic objects—growth, stability, equity and efficiency.” ADVERTISEMENTS: Further, it also deals with fiscal policies which ought to be adopted to achieve certain objectives such as price stability, economic growth, more equal distribution of income. Economic thinking about the role that public finance is expected to play has ch

Finance is a field that deals with the study of investments . It includes the dynamics of assets and liabilities over time under conditions of different degrees of uncertainty and risk. Finance can also be defined as the science of money management . Finance aims to price assets based on their risk level and their expected rate of return . Finance can be broken into three different sub-categories: public finance , corporate finance and personal finance . Areas of finance Frankfurt Stock Exchange , European Center of finance, Frankfurt am Main. Wall Street , American centre of finance. London Stock Exchange , British centre of finance. Personal finance Main article: Personal finance Questions in personal finance revolve around: Protection against unforeseen personal events, as well as events in the wider economies Transference of family wealth across generations (bequests and inheritance) Effects of tax policies (tax subsidies or penalties) management of personal finances

. .It is the branch of economics which assesses the government revenue and government expenditure of the public authorities and the adjustment of one or the other to achieve desirable effects and avoid undesirable ones. [2] The purview of public finance is considered[ by whom? ] to be threefold: governmental effects on (1) efficient allocation of resources, (2) distribution of income , and (3) macroeconomic stabilization . Overview The proper role of government provides a starting point for the analysis of public finance. In theory, under certain circumstances, private markets will allocate goods and services among individuals efficiently (in the sense that no waste occurs and that individual tastes are matching with the economy's productive abilities). If private markets were able to provide efficient outcomes and if the distribution of income were socially acceptable, then there would be little or no scope for government. In many cases, however, conditions for private market

What Is the Meaning of Business Finance? by David Ingram Business finance is a term that encompasses a wide range of activities and disciplines revolving around the management of money and other valuable assets. Business finance programs in universities familiarize students with accounting methodologies, investing strategies and effective debt management. Small business owners must have a solid understanding of the principles of finance to keep their companies profitable. Significance Financing, simply put, is the act of bringing money into an organization. Businesses can be financed in a number of ways, each of which features its own advantages, disadvantages and unique features. Common methods of financing a business include taking on debt and taking advantage of credit arrangements, financing through equity investment or earning income through investment products that bear interest or increase in value. Time Frame Properly managed debt can help a small business to finance stea

Officially blind by 2Face idibia Copy write @ MR FREEDOM MAN

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