The budget, simply put, is a statement of income and. On tuesday december 2011, the president of the federal republic of nigeria presented the 2012 federal budget proposal to the joint session of the national assembly under the theme fiscal consolidation, inclusive growth and job creation. Nigeria 2010 budget breakdown by nairabrain on nov 25, 2009 with comments 2 4,052 views infrastructure development topped the federal governments agenda in the capital expenditure of the n4. Nigeria is aspiring to be among the top 20th economies of the world by the year 2020 and has just adopted zbb in her budgeting processes and implementations. The inherent dangers in the 2011 budget which indicate that the entire oil. Budget implementation and economic development in delta state. In 2016, the budget was prepared on the principles of zero based budgeting to ensure our resources were prudently managed and utilized solely for the public good.
Nov 07, 2017 november 7, 2017 nigeria\s 2018 budget. Federal government of nigerias 2018 budget of consolidation. Smith is a deputy manager in the monetary policy department, central bank of nigeria. The study adopted a cross sectional survey research design where primary data were collected through a structured questionnaire at a point in time and analyzed using analysis of variance and. The nigerian budget process central bank of nigeria. It is my pleasure to present the 2017 budget proposals to this distinguished joint assembly. The contours of budget credibility in nigeria international budget. The second section xrays the concept of public policy. Constitution of the federal republic of nigeria 1999. Mar 09, 2014 arguments have raged on over the financial illiteracy hindering most nigerians from full participation in government and, clearly understanding governance and government activities across all spheres of life. The case of nigerias sti budgets serve many important functions to government generally. The study concludes that budgeting is an important tool in managerial planning and control.
In view of this, the researcher recommend that managers and business operators should pay more attention to budgeting because it aids good managerial planning and control. Nigeria recorded a government budget deficit equal to 2. The budgeting system that prevailed in tertiary institutions in southwestern, nigeria, is the traditional budgeting system of line item or incremental system. The federal budget can be defined as a document from the government that. This paper examined budgeting at the local government level, its preparation, problems and prospects. Additionally, the amount of information required to back up zero based budgeting is huge and can overwhelm public servants that are not used to this kind of budgeting. The budget office of the federation was established to provide budget function, implement budget and fiscal policies of the federal government of nigeria. Arguments have raged on over the financial illiteracy hindering most nigerians from full participation in government and, clearly understanding governance and government activities across all spheres of life. Federal government and zerobased budgeting 1opinion the. Thus, nigeria is a case where budgets are unrealistic, and also a case where.
The budget for the coming year appears to address key sectors of the economy with specific. Fiscal consolidation, inclusive growth and job creation. At both management and operation levels, budgeting is futuristic and lays down goals to be achieved. However, implementation of the budget is crucial to its success. The study discovered that there is a wide gap between budget plan and its implementation which results in unfulfillment of political promises and nonsatisfaction of heightened expectation of the people. The year entails several events that define the progress of the country and its future. See the problems and prospects of budget implementation in nigeria. Usually the government councils translate their services through budget as it has to do with financial plan or estimate of proposed income and expenditure for a particular period normally a year. However, according to the nigeria bureau of statistics nbs, the real gdp growth in the first, second and third quarters of 2015 were 3. Implications for institutional reforms for acheiving timeliness. Budget is also seen as a financial or quantity statement prepared and approved prior to a defined period for the process. The year 2011 is a distinguishing year for nigeria.
On wednesday 10 october 2012, the president of the federal republic of nigeria presented the 20 federal. This is however, supplemented with funding formula and performancebased budgeting mechanisms. Performance budgeting, its planning, implementation and. The challenges of budget implementation in nigeria projectclue.
Each department is subdivided into divisions for functional purposes. A budget is an estimate of government income and expenditure for a specified period of time, usually one year. Nigeria is named as one of top 10 reforming countries in the world. Budget allocations by functional classification, 20052009 34. This study, the impact of budgeting and budgetary control on the performance of manufacturing company in nigeria, was conducted using cadbury nigeria plc, as case study. These three budgeting strategies are adopted by the budget committee of the. General issues and challenges of budgetary process in nigeria 5. However, in nigeria, experience was derived from a more mature british system because, the national system was adopted during the time of independence between 19571960 in spite that nigeria did not fail to encounter avoidable problem in the budget. On the 2016 budget the guardian nigeria news nigeria and. In 2012, underspending against releases was only 67 percent, and in 2014 it was. Consequently, the central bank of nigeria cbn does not take responsibility for the accuracy of the contents of this publication as it does not represent the official views or position of the bank on the subject matter.
A few stakeholders preferred the online budget in pdf format giving their. Nigerias effort to publish budgets is a leading example of. A budget is the sum of money allocated for a particular purpose and the summary of intended expenditures along with proposals for how to meet them. Analyses of nigerias 2016 budget and medium term expenditure. With this background, the rest of this paper is organized as follows. With the seizure of power, the military combined both executive and legislative functions. Federal republic of nigeria fiscal responsibility act, 2007. The federal government of nigeria has a constitu tional obligation to develop a budget every fiscal year. The impact of budgeting and budgetary control on the. For the first time ever, the 2017 budget was collated using a web. Nigerias 2016 budget which has been submitted by president muhammadu buhari to the national assembly, like any budget, should not be a mere expression of figures and facts. Implications of institutional reforms for achieving timeliness. A good financial knowledge is required in todays daily activities if we are to dictate fraud before it happens in our various businesses and avoid the siphoning.
Evidence from the 2012 capital budget article pdf available september 2014 with 1,922 reads how we measure reads. Federal government 2018 budget analysis and recommendations. Budgeting is a process whereby the plans of an institution are translated into an itemized, authorized and systematic, plan of operation, expressed in monetary term for a given period jensen, 2003. Sep 30, 2015 secondly, zero based budgeting requires specific training especially as it is different from the traditional or incremental budgeting that has been used over the years in nigeria. Using descriptive analysis, this paper examines the capital budget implementation in nigeria by focusing on the 2012 federal government budget. Before i discuss the 20 budget, let me briefly summarize the outcomes of the 2012 budget. Budget preparation and implementation in the nigerian public sector article pdf available in research journal of finance and accounting 416. An analysis of the federal budgeting process in nigeria. Nigeria is estimated to be in need of between 17million to 23 million new housing units to meet its housing deficit.
Pdf the paper examines national budget implementation focusing on the 20122014 budgets of nigeria by juxtaposing the actual performances of the. This page provides nigeria government budget actual values, historical data, forecast. Budget bulletin pwc nigeria key macroeconomic indicators economic growth in the 2015 budget, real gdp was projected to grow at 5. Aug 06, 2012 an analysis of the federal budgeting process in nigeria 1. Budget implementation and economic development in delta. Fgn 2021 personnel cost budget call circular dgb citizens. Gender budgeting is an initiative to use fiscal policy and administration to address. Nigerias fiscal revenue profile remains highly susceptible to oil price shocks. Nigerias 2017 budget of recovery and growth thecable. Efforts to sustain the peace in the niger delta and provisions in the 2018 budget for the ogoni cleanup project. Budgeting and budgetary control in the manufacturing sector. Since wants are plenty while resources are limited, every organisation tends to find means by which it can get what it wants with the limited resources at its disposal. Udoma udo udoma, the strategic thrust of the 2017 budget is ensure that nigeria gets out of.
Annual and mediumterm budgets all nigerian states prepare an annual budget a financial plan that allocates state resources to achieve. An analysis of the federal budgeting process in nigeria 1. Budget and implementation of public policy in nigeria. Budgeting which is defined and approved prior to a defined period of time of the policy to be pursued during that period for the purpose of attaching a given objective is primarily a process of planning and control. Budgeting has a role to play in nigeria present economic situation role to play in nigeria present economic situation. List and full breakdown of nigeria budget since 1990 2018. Phd national institute for legislative studies nils, national assembly, abuja tel.
Nigeria the budget is normally presented by the executive arm of the government to the legislative arm before it becomes appropriation bill. List and full breakdown of nigeria budget since 1990 2018 on. Constraints on budgeting and development plan implementation. As you may recall, the 2012 budget was approved late, and so implementation occurred over a. Problems and prospects of budgeting and budget implementation in local government system in nigeria article pdf available january 2009 with 15,219 reads how we measure reads. Problems and prospects of budget implementation in nigeria. To achieve this objective, the paper is divided into sections. Our present procedure in regard to appropriation bill is a far cry from our experience under all the military regimes we were subjected to from january 1966 to september 1979 and january 1984 to may 1999. Federal government of nigerias 2018 budget the 2018 budget is geared towards building on economic recovery accomplishments and achieving sustainable economic growth in the medium term, while ensuring increase in nonoil revenues and capital expenditure introduction president muhammadu buhari presented the 2018.
The national assembly and the budget process in nigerias. The budget office is structured into six departments six operational departments and three units. Nigeria has moved up 24 places from 169 to 145 on the 2018 world banks ease of doing business ranking surpassing the target of 20 places set by government. In nigeria, the return to civilian rule in may 1999 after many years of military rule not only put issues of budget in the public domain but. Nigerian west african neighbours ivory coast, gambia, ghana, burkina faso, mali, senegal, benin. Dec, 2011 recurrent expenditure proposed for 2012 budget will consume a whopping 72% of the expenditure. No attempt, to my knowledge has been made as studying the impact of budget implementation. Recurrent expenditure proposed for 2012 budget will consume a whopping 72% of the expenditure. Investigation of open budget data in nigeria open data research. Analysis of the federal budgeting process in nigeria. Revenue generation needs to be enhanced through the blockage of leakages, improving tax efficiency and implementing clear fiscal reforms that support the business environment and therefore nonoil revenue.
The federal budget can be defined as a document from the government that sums up its revenue and expenditure for a fiscal year, which runs from january 1. It is a list or quantitative expression in a summary of likely income and expenses. This method was a clear departure from the previous incremental budgeting method. Secondly, zero based budgeting requires specific training especially as it is different from the traditional or incremental budgeting that has been used over the years in nigeria. Pdf problems and prospects of budgeting and budget. The paper investigated the relationship that existed between capital expenditure budget size cebs and power infrastructural development pid in nigeria. Budgeting system is the process involved in using the scarce resources to achieve the desired goals and objectives of the corporation ikpe and oba, 2004. Nigeria is ranked one of the fastest growing economies in the world with. According to abdullahi 2007, a government budget is a political and administrative instruments by which the executive and legislative bodies endeavour to allocate scarce resources among the various organs of government either at state levels or federal level. For the purpose of this paper, we shall focus on the importance which budgets serve to government ministries, departments, agencies mdas and parastatals.
1104 399 627 138 62 971 1488 1157 870 77 955 1076 1580 653 1189 492 1025 1546 829 1337 995 942 1462 629 1491 875 1154 585 1360 66 1115 1277 621 480 1088 129 886