Treasury Single Account and Revenue Generation in the Nigerian Maritime Industry: A Pre and Post Evaluation

Authors

  • Olusesan Fashakin Department of Accounting, Finance & Taxation Caleb University, Imota, Lagos, Nigeria
  • Solomon Audu Department of Accounting, Finance & Taxation Caleb University, Imota, Lagos, Nigeria

DOI:

https://doi.org/10.61143/umyu-jafr.7(1)2024.006

Keywords:

Asset ubtilisation, Financial efficiency, Revenue generation, Revenue leakage, Treasury Single Account

Abstract

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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Author Biography

Olusesan Fashakin, Department of Accounting, Finance & Taxation Caleb University, Imota, Lagos, Nigeria

Olusesan Fashakin is a distinguished chartered accountant and Fellow of both the Institute of Chartered Accountants of Nigeria (ICAN) and the Association of Chartered Certified Accountants (ACCA). With over 17 years of robust professional experience across five key sectors, Olusesan has honed his expertise in financial reporting, audit and assurance, strategic management, and regulatory compliance.

A thought leader in his field, Olusesan has contributed to the body of knowledge through two published articles, showcasing his commitment to advancing professional discourse. His passion for education and capacity-building has also fueled his interest in part-time lecturing, where he aims to mentor and inspire the next generation of finance professionals.

Currently pursuing a PhD at Caleb University, Olusesan combines academic rigor with practical insights, reflecting his dedication to continuous learning and intellectual growth. His journey exemplifies a blend of strategic leadership, academic excellence, and an unwavering commitment to professional development.

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Published

2025-02-16

How to Cite

Fashakin, O., & Audu, S. (2025). Treasury Single Account and Revenue Generation in the Nigerian Maritime Industry: A Pre and Post Evaluation. UMYU Journal of Accounting and Finance Research, 7(1), 83–97. https://doi.org/10.61143/umyu-jafr.7(1)2024.006

Issue

Vol. 7 No. 1 (2024): UMYU Journal of Accounting and Finance Research VOL. 7 NO. 1 December, 2024

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Articles

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