INTERNALLY GENERATED REVENUE (IGR) AND EFFECTIVENESS OF POLYTECHNIC ADMINISTRATION

FOCUS ON AKANU IBIAM FEDERAL POLYTECHNIC, UNWANA

Abstract

The study focused on the identification of the sources and utilization of Internally Generated Revenue (IGR) by Nigerian Polytechnics with special reference to Akanu Ibiam Federal Polytechnic, Unwana. The population of the study consisted of 60 members of staff of the Polytechnic drawn from the core Management Team and staff of the Bursary Department of the school. Descriptive statistics and chi-square (χ²) statistical summarization technique were used to analyze the research questions and hypotheses formulated for the study. The analysis revealed that commercial ventures, alumni fees and rates constituted the major sources of Internally Generated Revenue to the Polytechnic. The proceeds help in the maintenance of facilities and provision of energy for generating plants. It was equally found that Internally Generated Revenue of the Polytechnic has not been fully developed to provide at least 10% of the fund required for the overall administration of the school as advised by the Federal Government of Nigeria. The study recommends that a transformative, accountable and creative leadership be maintained with a view to solidify their revenue base for effective administration.