Budgetary Process in Nigeria: A Critical Appraisal

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Abstract The budgetary process is very central to effective governance and the fiscal policy of any nation. In Nigeria, this process plays a crucial role in allocating resources and determining national priorities. The main objective of this paper is to provide a comprehensive evaluation of the budgetary process of the Nigeria government. The methodology adopted for the study is essentially a library survey involving the review of relevant literature, government documents and major institutional reports on the subject matter. The study’s finding highlights the inefficiencies and systemic issues in the Nigeria budgetary process such as delays in the budgetary process, unrealistic revenue forecasting, political interference, incidence of budget padding, lack of transparency, minimal public participation in the budgeting process and pronounced implementation gap. The study also offers suggestions to improve the use of technology for transparency, fiscal discipline, institutionizing public participation, strengthening of legislative review, oversight, Medium Term Expenditure Framework (MTEF) and reduction of unnecessary political inference in the budgeting process. The paper concludes by advocating for structural reforms to enhance Nigeria’s budgetary framework because the activities of key budget actors to a large extent affects effective budget implementation and success in Nigeria.

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