Resource Control: Implications For The Economic Development of Nigeria
This research work sought to assess the impact of resources control on economic development in Nigeria with specific focus on its impacts on poverty level, life expectancy, good health educational attainment and self reliance. One hundred and fifty(150) structure questionnaires were administered to five categories of respondents- government officials, ministry of finance staffs, Internal Revenue Services (IRS) staffs, Civil society organization, and the host
community in five local governments and four local government areas in Lagos and Bayelsa State of Nigeria respectively. The research instruments were face validated by five experts and test-re-test method was carried out to test the reliability of the instruments with pearson’s product moment correlation coefficient and kuder Richardson’s K-R(20). The valves were 0.87 i.e. 87%for poverty, 0.82 i.e. 82% for life expectancy, 0.73 i.e. 73% for education and 0.722 i.e.
72.2% for self reliance. Data were analyzed through descriptive and inferential statistical tools such as percentages, Analysis of variance and correlation coefficient. The results reveals that Resources control has significant impact on poverty level, life expectancy, good health and self reliance but it does not have much influence on education attainment. Based on the findings, it was recommended that each state should be allowed to handle their resources and pay returns in term of tax remittance to the central government and that there should be trade agreements among states.