Budget Implementation In Nigeria Pdf

This income is split among the levels of government and states of the federation. This has lead to an increase in the level of unemployment and equally to a general low level of standard of living.

Corruption has eaten deep into the roots of the Nigerian system that fighting it looks almost like a lost battle. They stash the funds in their private accounts in Nigeria and foreign lands, building enough money pile to last generations.

CHALLENGES OF BUDGET IMPLEMENTATION IN NIGERIATHE CHALLENGES OF BUDGET IMPLEMENTATION IN NIGERIA

ProjectClue

The budget should contain all the necessary financial estimates that the government intends to work with to prevent extra-budgetary expenditure. To find out the best revenue allocation formula that is suitable for economic growth and development. This is the very first and prime problem that the Nigerian budget implementation process is faced with.

They see government office as a goldmine, hence the budget implementation suffers since the real purpose the money was disbursed for was not achieved, or was poorly achieved. The trend of development which places more emphasis on revenue was carried over to all the British colonies. Budgets are made at the different levels of government, from the federal government, to the state government and local government. The President is responsible for the preparation and submission of the budget at the federal level.

Problems and Prospects of Budget Implementation in Nigeria

After this process, budget implemetation comes in. Money is disbursed to the various departments for expenditure.

Leave a Reply Cancel reply Your email address will not be published. Hence, the most qualified people are not given these contracts, jobs and money to properly manage. Thix aims at honesty and judicious plus efficient use of public funds. Background of the study Every company operates within the internal and external environments of business.

Page maintained by Ifiokobong Ibanga. To cut down on the constraint this might be encountered in form of death of data and other related constraints to a manageable proportion.

Government officials entrusted with public funds think about themselves first and misappropriate the funds carelessly. The budget should be presented at a time suitable to go alongside the beginning of every fiscal year end and last for a specified period. The participation of the people in this process is very low die to high illitracy level and poverty rate.

This is another major problem. It is also indeed anticipated that this research work will be of immense help to the academic and others who may find study invaluable source of material for their future research work.

The budget shows how the income that would be received in a year would be appropriated. The budget implementation process is very crucial to the development of the country, and thus proper attention should be payed to it by everyone. After explaining the budgetary process and giving a clear explanation of what a budget is and how important the budget implementation process is, we can now discuss the problems faced at this stage. The Nigerian Economy is faced with series of imbalances in their implementation, manual psihologie clasa a xa pdf despite the availability of the various source of fund to the government. This stage involves checking actual figures with projected figures and evaluating how well the implementation process has gone.

It is a general problem, since it is people from the bottom that still rise to the top and continue the act. They got there through politics, so they might not really be the best for the job.

2018 Third Quarter Budget Implementation ReportProblems and Prospects of Budget Implementation in Nigeria

It is also reviewed again for conformity. To find out such other factors that is likely to affect budget implementation. The identification and setting of developmental goals is key before budgetary policies are set based on the development plan.

CHALLENGES OF BUDGET IMPLEMENTATION IN NIGERIA

The government gives out contracts for capital expenditure and supplies for their recurrent expenditure. They can be made by other arms of the government or by international organization. Contracts will be given out, commitments would be made and results should be expected. This research will help to correlate, compare and co-ordinate the financial administration of the various government departments.

The officers that have been entrusted with these funds now have to properly channel such monies to the right places. At the state level, it is the Governor who is responsible, and at the Local Government level, it is the local government chairman. They give to their family members and friends. Most of the local councils sources of income have been taken over by the state governments. It means that the government expects to spend more than it earns.

To find out why targeted goals have never been achieved in Nigeria. The Nigerian government gets the bulk of its income from taxes and oil. It is a list or quantitative expression in a summary of likely income and expenses. Background of the study Government Expenditure no doubt is an important instrument for a government to control the economy of a nation. It should represent the goals and needs for the year to which it relates and also identity the future aspirations and problems of the government and the economy.

Budget implementation is the final stage of the budgeting process before the control lap. Hence the process suffers. However, they do not give to the right people. Although the planning stage is the most important process, the implementation stage is where the action takes place, which makes it very essential. When all levels of government, ministries, departments and agencies send their estimates, their estimates are reviewed and approved.