STATE BUDGETARY ALLOCATION: AN APPRAISAL OF BUDGET IMPLEMENTION AND EFFECTS IN NIGERIA
STATE BUDGETARY ALLOCATIONS: AN APPRAISAL OF BUDGET
IMPLEMENTATION AND EFFECTS IN NIGERIA*
By
Prof. Aderibigbe S. Olomola
Director, Surveillance & Forecasting Department
Nigerian Institute of Social and Economic Research (NISER), Ibadan
PAPER PRESENTED AT THE NISER RESESEARCH SEMINAR SERIES
(NRSS) HELD AT THE NIGERIAN INSTITUTE OF SOCIAL AND
ECONOMIC RESEARCH, IBADAN
SEPTEMBER 11, 2012
1
STATE BUDGETARY ALLOCATIONS: AN APPRAISAL OF BUDGET
IMPLEMENTATION AND EFFECTS IN NIGERIA
By
Prof. Aderibigbe S. Olomola
Director, Surveillance & Forecasting Department
Nigerian Institute of Social and Economic Research (NISER), Ibadan
1. INTRODUCTION
The role of budget in an economy cannot be overemphasized. This is because budget is an important instrument of national resource mobilization, allocation and economic management. It is an economic instrument for facilitating and realizing the vision of the government in a given fiscal year. Since the inception of democratic governance over a decade ago, Nigerians have built up very high expectations that the budget would contain laudable programmes that would lead to poverty reduction in particular and promote their welfare in general. But concern seems to be growing among stakeholders regarding the ability of the budget to fulfill the policy objectives of the government and by implication satisfy the aspirations of the people. The budget can be considered as the engine of the on-going economic reforms. If it is switched off at any time or if it is malfunctioning, the reforms cannot generate the expected outcomes. All the laudable programmes of the government especially in the areas of poverty reduction, infrastructure development as well as development of key sectors of the economy such as agriculture, manufacturing, education, health, communication, tourism and commerce will only bring out the best results if the defects in the budget process are curtailed and eventually eliminated.
The
IMPLEMENTATION AND EFFECTS IN NIGERIA*
By
Prof. Aderibigbe S. Olomola
Director, Surveillance & Forecasting Department
Nigerian Institute of Social and Economic Research (NISER), Ibadan
PAPER PRESENTED AT THE NISER RESESEARCH SEMINAR SERIES
(NRSS) HELD AT THE NIGERIAN INSTITUTE OF SOCIAL AND
ECONOMIC RESEARCH, IBADAN
SEPTEMBER 11, 2012
1
STATE BUDGETARY ALLOCATIONS: AN APPRAISAL OF BUDGET
IMPLEMENTATION AND EFFECTS IN NIGERIA
By
Prof. Aderibigbe S. Olomola
Director, Surveillance & Forecasting Department
Nigerian Institute of Social and Economic Research (NISER), Ibadan
1. INTRODUCTION
The role of budget in an economy cannot be overemphasized. This is because budget is an important instrument of national resource mobilization, allocation and economic management. It is an economic instrument for facilitating and realizing the vision of the government in a given fiscal year. Since the inception of democratic governance over a decade ago, Nigerians have built up very high expectations that the budget would contain laudable programmes that would lead to poverty reduction in particular and promote their welfare in general. But concern seems to be growing among stakeholders regarding the ability of the budget to fulfill the policy objectives of the government and by implication satisfy the aspirations of the people. The budget can be considered as the engine of the on-going economic reforms. If it is switched off at any time or if it is malfunctioning, the reforms cannot generate the expected outcomes. All the laudable programmes of the government especially in the areas of poverty reduction, infrastructure development as well as development of key sectors of the economy such as agriculture, manufacturing, education, health, communication, tourism and commerce will only bring out the best results if the defects in the budget process are curtailed and eventually eliminated.
The
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