Treasury Single Account and Revenue Generation in the Nigerian Maritime Industry: A Pre and Post Evaluation
DOI:
https://doi.org/10.61143/umyu-jafr.7(1)2024.006Keywords:
Asset utilisation, Financial efficiency, Revenue generation, Revenue leakage, Treasury Single AccountAbstract
This study investigates the impact of the Treasury Single Account (TSA) policy on revenue generation in Nigeria's maritime sector, focusing on the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian Shippers' Council (NSC). Introduced to promote financial transparency and accountability, the TSA policy is expected to influence the financial performance of public institutions. However, its specific effects on the maritime sector remain underexplored. The research evaluates TSA's impact on revenue generation, financial efficiency, and asset utilization using a quantitative design. Secondary data were collected from NIMASA and NSC, covering 2010 to 2019. The Difference-in-Differences (DiD) method was applied to compare the treatment group (NIMASA) with the control group (NSC). Rigorous data selection ensured validity, while reliability was established through consistency checks. A 100% response rate was achieved as all required data were sourced from relevant agencies. Findings reveal that the TSA policy positively influenced revenue generation and financial efficiency but negatively affected asset utilization. The study concludes that while TSA strengthens revenue management in the maritime sector, challenges in asset management persist. Recommendations include extending the study period, leveraging technology for enhanced TSA implementation, and analysing TSA's effects in other sectors to provide a comprehensive evaluation of its overall effectiveness.
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