EFFECTS OF TREASURY SINGLE ACCOUNT ON ECONOMIC GROWTH IN NIGERIA

Abstract: This study assesses the Effects of Treasury Single Account on Economic Growth in Nigeria. The research design adopted for this study is Ex post facto research design. The study relies mainly on secondary data gathered from various issues of statistical bulletin of the Central bank of Nigeria, the budget office of the federation (BOF) and Office of the Accountant General of the federation. The data consist of annual time series from 2015 to 2023. The study adopts totally collected federal oil revenue, totally collected federal non-oil revenue and federal government retained revenue as proxies for treasury single account and Gross Domestic Product (GDP) as a proxy for economic growth. The data collected were analyzed using Simple and Multiple regression analysis methods of Ordinary Least Square technique with the aid of SPSS. Test of statistical adequacy, such as the t-statistic, F-statistic, adjusted R-square, Durbin-Watson were executed to find the relative acceptability, significance of the variables and the dependability of model estimation factors. Analysis of variance (ANOVA) was used to test the hypothesis. The study revealed that Treasury Single Account (TSA) have positive significant effect on gross domestic product (GDP) in Nigeria. The study concluded that there is significant effect of totally collected federal oil revenue on gross domestic product in Nigeria; that there is significant effect of totally collected federal non-oil revenue on gross domestic product in Nigeria and that there is significant effect of federal government retained revenue on gross domestic product in Nigeria. It was recommended that: the federal government should revitalize the moribund oil refineries in Nigeria; the federal government should open up other development sectors of the economy that can lead to economic growth and diversify its revenue sources by creating enabling economic and secured environment that will boost local industries and attract foreign direct investment which will also lead to economic growth. Keywords: Treasury Single Account, Economic Growth. Title: EFFECTS OF TREASURY SINGLE ACCOUNT ON ECONOMIC GROWTH IN NIGERIA Author: Ifeanyichukwu Arthur Onyiah, Dr Nnaemeka Thaddeus Ukwueze, Dr. Ogan, Rogers John, Okorie, Emmanuel Iloegbunam, Eze, Nnanyelugo Onyedikachi, Odimba, Daniel Maduabuchi International Journal of Management and Commerce Innovations ISSN 2348-7585 (Online) Vol. 13, Issue 1, April 2025 - September 2025 Page No: 159-171 Research Publish Journals Website: www.researchpublish.com Published Date: 27-June-2025 DOI: https://doi.org/10.5281/zenodo.15753518 Paper Download Link (Source) https://www.researchpublish.com/papers/effects-of-treasury-single-account-on-economic-growth-in-nigeria