As the state is experiencing growth in her population, so is the increase in the demand of the people in terms of provisions of social and infrastructural facilities. As economist will say 'Human wants are unlimited but the means to satisfy them are limited. There is therefore the need to utilize these scarce resources to the full benefit of the citizenries. To do this, we need an appropriate tool of accounting called budget that will serve as a composite framework of implementing government policies. Budget in the public sector of Nigeria has almost become a ritual or a yearly affairs which though good in content but without appreciable results. The issue of budget implementation has long been a source of concern to the public. As good as our budget is mostly in terms of preparation and contents; it is kept in shelves after approval as a historical book and never consulted. There are wide range of disparity between budget and accomplishments. It is against this background that government and auditors introduce new measures and strategies aimed at checking wasteful expenditures and keeping budget in line with global practice. The objective of the paper therefore is to examine few of these measures and to determine their implications on budget implementation. The paper concluded that all the new audit trends are indispensable for the efficiency and effectiveness of budget performance. However, the paper recommended the need to enact enabling laws that will ensure the workability of these new audit concepts.
Year in year out, Nigerians always hear of billions and trillions of naira budgeted as capital expenditure in our annual budget. This amount undoubtedly continues to increase with each passing year, but the society is always at a loss as to where the money was invested. There seems to be wide disparity between budget proposal and accomplishment. The government at all levels are accused of disregard for budgetary provisions, late passage of budget, involvement in extra-budgetary activities, late release of capital vote and selective implementation of budget. This paper therefore investigates whether or not there is a significant difference between the mean of budgeted capital and expended capital using some infrastructures in some selected local government. The paper adopts a basic research approach where data were obtained from secondary sources, mainly from published materials which include annual financial statements and publication of approved budget estimates covering the period of study. A stratified random sampling was adopted in selecting the sample. A method of descriptive analysis was used in analyzing the data. The method includes measures of central tendencies and test of equality among the means of budgeted capital and expended expenditure on each project per local government. This test uses the student t-test of differences of means. The outcome of the paper shows that there was a positive and significant relationship between budgeted capital and actual expenditure. The implication of this is that an increase in budgeted capital will lead to an increase in capital expenditure on that infrastructure.Critical value = 1.782, Level of significance = 0.95. Source: Authors Computation 2011.
This study examined the relationship between budgeted capital and health sector performance in South West Nigeria. The study adopted statistical tools to analyse the data that were sourced from the approved budget estimates of the six South Western States. The descriptive statistics showed that on an average level, all the selected capital expenditures contributed approximately 99.9% to their capital budgetary allocations. Jarque-Bera test statistics reveals that capital budgetary allocation and all other variables were normally distributed. The covariance analysis showed that all the variables were significant with a positive association with capital budgetary allocation. Based on the findings, the study concludes that there is poor allocation of budget for health sector and water resources, while expenditure on environmental sanitation was significant at 5%. The study recommends that government should increase the intervention budgetary allocation to health sector for general well-being of citizens.
Government in Nigeria oftentimes embark on capital projects without giving due consideration to the need of the people to which the project serves. Most of these projects do not have economic and social values hence after completion they are either not fully utilized or are jettison along the line. The paper looks into some projects of the local governments in order to find out their levels of viability in terms of need, usage and acceptability to its immediate community. In doing this, four key capital projects were examined in six local governments within a period of five years (2006)(2007)(2008)(2009)(2010). Data for this study were mainly secondary. Both correlation and regression matrix were used to analyze the data. The study reveals that Water provision is mostly needed by the people and hence should be given adequate priority by the government.
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