Budget Process And Procedures In Porous Developing Economies:Nigeria In Focus.
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Date
2009-06
Authors
Obademi, O.E
Sokefun, A. O.
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Abstract
This paper focuses on the characteristic features of a typical porous developing like Nigeria in respect of inadequate institutional and legal/frameworks that can sufficiently support the preparation and implementation of a good budget .The experience in Nigeria is that budget implementation and performance often fall short of 50 percent delivery. This has made room for both official and un-official corruption .The paper looks at the economic growth pattern in Nigeria, the budget deficits over some years and the implications for poverty reduction and societal well-being.
The popular Medium Term Expenditure Framework (MTEF),budgeting with special attention to activity based costing has been proposed and is being experimented. However in the light of inflation and the volatility cum instability of the sources of revenue for a country like Nigeria. the capacity of an MTEF budgeting approach to deliver the optimum expectation in terms of budget implementation and delivery may he undermined. The recommendation is that instead of the traditional minimum of a
3 year MTEF, a 2 year budget plan may perform better.
Description
Staff Publication
Keywords
Budget Performance , Porous Economy.
Citation
Obademi,O.E & Sokefun,A.O. (2009)Budget Process And Procedures In Porous Developing Economies:Nigeria In Focus.JORIND vol.7,(1).