IIARD International Institute of Academic Research and Development

Journal of Accounting and Financial Management (JAFM )

E-ISSN 2504-8856
P-ISSN 2695-2211
VOL. 10 NO. 9 2024
DOI: 10.56201/jafm.v10.no9.2024.pg102.118

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ffect of Internally Generated Revenue on Environmental Sustainability Funding in Anambra State

Celestine Elochukwu Mmuoneche, Ven. Prof. Onuora, J.K.J

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Abstract

Funding of environmental sustainability requires huge capital outlay as such states cannot continue to rely on dwindling federal allocation and grant to sustain their efforts to preserve and maintain the environment. There is need to explore the IGR potentials of the states to mitigate disastrous effect of climate change and human activities on the environment. The study therefore examined the effect of internally generated revenue on environmental sustainability cost in Anambra State. Quarterly time series data (secondary data) sourced from State annual financial statement, State Auditor-General Annual Report and State Approved Annual Budget covering sixteen (16) years (2006 and 2021), which spans over two political regimes in the state, were used. This data was estimated using the FMOLS estimators while the canonical regression estimators was used for robustness check. Findings revealed that Fees and fines has a positive and significant effect on environmental sustainability cost whereas, interest has a significant but negative effect on environmental sustainability cost in Anambra State of Nigeria. Although, Licenses and tax has a negative and positive effects on environmental sustainability cost in Anambra State of Nigeria, respectively, this effect is insignificant statistically. The study recommend amongst other things that the interest the government earned from its investment should be reinvested on green technologies and renewable energy projects while taking strict measures to close leakages in fines and fees collection from environmental law offenders in the state.

keywords:

Environmental Sustainability, Anambra State, Internally Generated Revenues,

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