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A STUDY OF THE ACCOUNTABILITY AND BUDGET IMPLEMENTATION IN NIGERIA (A CASE STUDY OF MINISTRY OF FINANCE, ENUGU)
- Format: Ms Word Document
- Pages: 79
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- Chapters: 1-5
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As a result of rapid increase in the socio-economic problem of this nation and also millions of naira wasted at project sites and the collapse of our economic sector, the writer decided to survey the avenues in which these wasted funds could be curtailed and our economic problems ameliorated. It was assumed that most of this problem arose as a result of poor budgetary and economic policies implementation for this, the writer introduced the study in chapter one of this thesis with a clear statement of the problems inherent in poor budgetary plans implementation. In chapter two there was an effort made to give the definition have one thing in common that is budget. All the definitions have one thing in common that budget is an estimate and refers to the future. The major causes of non-budgetary implementation are also stated in this chapter. From other related literature, the writer could clearly give on appraisal of the proper accountability in some of our banking sectors. Here some of these failed banks were used as an example of what accountability should be in our economic sector. Chapter three stated the designed and method of investigation. Chapter four had gone through analyzing all of these data collected, the questions the questionnaire were analyzed one after the other with number and degree respondents that affirmed to a particular answer given and vise visa. Chapter five was the last chapter that contains the findings, conclusions, and recommendations.
TABLE OF CONTENT
1.2 Statement of problem
1.3 Objectives of the study
1.4 Research questions
1.5 Research hypothesis
1.6 Scope of the study
1.7 Significance of the study
1.8 Limitations of the study
1.9 Definitions of terms
2.0 Review of related literature
2.1 The budget system meaning
2.2 Objectives of budget
2.3 Budgetary procedures
2.4 Effect of inflation on budget
2.5 Politicians political system and budgetary implementation
2.6 Budgeting and financial reporting for efficiency economic management in the public sector
2.7 Salent facts of the 1999 budget
3.0 Research design and methodology
3.1 Sources of data
3.2 Sample size
3.3 Method of investigation
3.4 Method of data analysis
4.0 Presentation and analysis of data
4.1 Presentation, analysis of result and test of hypothesis
5.0 Summary of findings, conclusion and recommendations
LIST OF TABLES
1.1 Perception of senior and Junior staff of department of
budget and planning Ministry of finance on resources maximization
4.2 Responses of senior and junior staff on resources
4.3 Responses of senior and junior staff on achievement of
4.4 T-test analysis of the differences between the mean
responses score of senior and junior staff
4.5 Responses of senior and junior staff in the necessity of
4.6 Interpretation of staff differences in response to the
necessity of budget implementation
4.7 Perception of senior and junior staff on the use of
accountability and budget implementation as a
management and control measures
4.8 Responses of respondents on the use of
accountability and budget implementation as a
measurement and control device
For the past ages, man as a rational and divine animal has been struggling with the procurement of reasonable standard of living and the ways of managing his expected maximum utility (profit). The eventful development of a well organized society gave birth to the order of the day; government had the right to interfere with the economic process to protect the interest of the nation. Infact it was the Budget preparation and implementation of Tekunbo M. B (2006) that have contributed to the trends which led to economic planning and budgeting as a tool in political administration.
In Nigeria so many budgets have been pronounced and many of them are policies. All these budgets and policies are made to Nigerians standard of living which is presently nothing to talk about. The primary socio-economic crisis facing the nation as thing that are auxiliaries to the good problems facing Nigeria is that the policy and implementation of these budgetary plans have always fallen short of a set standard.
According to Olabode M. A (2005) Budgeting could be described as the annual statement of income and expenditure at the National, State or Local Government levels. It is also serve as a tool for accountability and control government finance, tools for planning and management and for economic policy prescriptions.
1.2 STATEMENT OF PROBLEM
There are so many problems which affect accountability and Budget implementation in Nigeria.
Inspite, other related problems of this study are those caused by improper execution of budgetary plans and poor accounting of government fund. This is based that all plans are always initiated by the problem of implementation.
A part from, incompletion and abandon cut in the economic sector. Also the frustration in trying to identify suitable projects and carry them out successfully to a final stage of completion are seen as a major stumbling block to plan implementation and development in Enugu State.
1.3 OBJECTIVES OF THE STUDY
The overall objectives of this study are:
· To examine some of the budget made in Nigeria with reference to Enugu State and find out how budgetary plans implemented affected the state and the nation as a whole.
· To examine accountability, which has eaten the economic heart of this nation?
· To ascertain for a management policy and system that can organize and the economy of this nation.
1.4 RESEARCH QUESTIONS
The study is set out to find answers to the following questions.
- To what extent has budgeting help the state government in maximizing their resources.
- To what extent has budgeting helped the government in achieving its objectives?
- In what ways does government adopt accountability and budget implementation in measurement and control of performance of units?
1.5 RESEARCH HYPOTHESIS
1. Ho: Budgeting does not help the state government in maximizing their resources.
Hi: Budgeting help the state government in maximizing their resources.
2. Ho: Government do not consider budget implementation necessary in discharging their duties or in their operations.
3. Ho: Budgetary plans if well and effectively implemented cannot help in the restructuring of the economy.
Hi: Budgetary plans if well and effectively implemented could help in the restructuring of the economy.
1.6 SCOPE OF THE STUDY
The study covers areas relating to accountability and budget implementation in Nigeria (Department of Budget and Planning Enugu State) in relation to maintaining proper accountability in areas relating to projects execution. This contents of the budgets for at least two years.
1.7 SIGNIFICANCE OF THE STUDY
The significance of this study can be waved into two major aspects, practical and Academics,
Particularly, this research will be of benefit in broading the understanding of the following people:
- Ministry of finance: It will certainly determine whether budgetary plans if well and effectively implemented could help in restructuring of the economy.
- Students: This research will enable students who intends to study the course in future to make use of this work both in their academics and research programs (Reference Purposes).
- Accountants: This research will also help to solve some of the problems encountered by the accountants since this work will be kept in the library for reference purposes.