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ACCOUNTABILITY AND BUDGET
IMPLEMENTATION IN NIGERIA (A Case Study Of Ministry Of Finance Enugu)
ABSTRACT
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 definition have one thing in common that budget is an
estimate and refers to the future. The major causes of non-budgetary
implementation is also stated in this chapter.
From other
related literature, the writer could clearly give an 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 versa.
Chapter five
was the last chapter that contains the findings, conclusions and
recommendations.
Table Of
Content
Title page
Approval
page
Dedication
page
Acknowledgement
Abstract
List if
table
Table of content
Chapter One
1.0
Introduction
1.1
Statement of problem
1.2 Purpose
of the study
1.3
Significance of the study
1.4
Statement of hypothesis
1.5 Scope of
the study
1.6
Limitation of the study
1.7
Definition of terms.
Chapter Two
2.0 Review
Of Related Literature
2.1 Meaning
of Government Budget
2.2
Objective of budget
2.3 Contents
of budget document
2.4
Budgetary procedures
2.5
Repetitive budget
2.6 Effects
of inflation on budget
2.7
Politicians political system and budgetary implementation.
2.8 Proper
accountability and appraisal steps to accountability
Chapter
Three
3.0 Research
Design And Methodology
3.1 Sources
of data
- Primary
data
- Secondary
data
3.2 Sample
used
3.3 Method
of investigation.
Chapter Four
4.0 Data
Presentation And Analysis
4.1 Data
presentation and analysis.
4.2 Test of
hypothesis
Chapter Five
5.0 Summary
Of Findings, Conclusion And Recommendations
5.1 Findings
5.2
Conclusion
5.3
Recommendations
Bibliography
Appendix
CHAPTER ONE
1.0
INTRODUCTION
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.
During the 18th century Adam smith and other great authors came out with the
system of laessez fair. The system suited its own period but the general
depression of the 20th century shoed that it was not after all an economic
panacea. People have to look for other economic solutions. At this point, the
economic scientists have to enter into the fields and make researches.
Thus, it was
during this time that Keynes one of the great researchers, came out with his
own postulation. To be precise during the 1930’s Keynesian economic developed
and emphasized the cyclical movement of the economy and the need to temper such
movement by artifices manipulating the troughs and depression in the cycle in
order to facilitate a better economic order. In fact it was the policy
implication of Keynesian economic that have contributed to the trends which ld
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. We all fully experience the poor living
standard of the citizens from the date of the nations. Independence till
present as government promisingly budgets to right all the economic errors. For
this care budget in Nigeria as whole have traditionally promised to tackle. The
primary socio-economic crisis facing the nation as thing that are auxiliaries
to the good standard of living and social development. But the greatest
problems facing Nigeria is that the policy direction and implementation of
these budgetary plans have always fallen short of a set standard.
In summation
therefore, most of the annual budgets in Nigeria could not achieve the set up
standard which is always their aims and objectives. A very important example is
the 1988 budget which was set up to achieve a non-inflationary growth in the
economy yet it failed hence an inflation of 25% as experienced in the economy
the very year. In short, inflation destabilized every sector of economy say
household, private sectors and public sectors. These price inflationary trends
and other factors such as private and public funds embezzlement have set the
pace of development derailed in our society.
In order to
find the solution to out budgetary economic problems one has to look inward and
study the factors that cause the crisis in our economic budget. The type of
people and environment could determine the type of economic management to be
used to salvage the nation from the economic depression, which she has been
enslaved of. What ever may be case, it is the solution that we nee and want and
not the volume of idealisms and metaphases. The implementation of these annual
budgets is our concern.
ACCOUNTING:
Accounting entails responsibility answerable for or held charge. In this case,
the question is that, “Is there any accountability in our private and public
sectors from the binging of our independence till this very moment? This word
accounting has been very vital in the restructuring of any economic system of
any nation. The issue of non accountability have caused a lot of problems right
from the start and fall of any nation. The issue of problems right from the
start and fall of any nation.
The doom in
our banking sector and other financial institution are matter of attention. Is
ir the failed contacts failed parastatals and even the external and internal
crises in our business sectors. All these and any other embezzlement problems
that rate the country have made the writer to probe into some of the matters
and look for possible solution.
1.2
STATEMENT OF PROBLEM
Since
independence, so many budget have been made ranging form the federal down to
stated and local government areas. These budget when made to follow a method of
plans and principle of implementation. The question is “Why can’t the volume of
budget announced annually in the country are not implemented” the issue is that
all the budget made in Enugu follow a technique and formulated method of
implementation. Another problems is to know if the implementation are the
proper ways to follow.
The means by
which the funds for the realization of this budgets are sourced, the source of
this funds or other assets to the units (government) and the use (application)
of these funds sourced for into the budgeted expenditures takes us to the topic
called “ACCOUNTING AND BUDGETARY IMPLEMENTATION IN NIGERIA”
We must take
it that the most stressing visible aspect administrative in capacities in poor
countries is difficult in accountability and implementing budgetary and
development plans. Many a times, projects are badly conceived, favorable given
to wrong and incompetent hands, under estimated and times of completion are
underestimated and the result will be a loss. Thus, 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.
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 militated by the problem of implementation. Short instance,
the valoom project designed to give Nigeria a list communication links even
with rural areas has been an agonizing. On February 12th 1976, this project was
signed at the estimated value of #89,824.018. but it has stayed up to many
years without completion. Thus, the improper accountability and inability to
implement the budgetary plans has been our great terror in terms of project
implementation.
1.2
OBJJECTIVE OR PURPOSE OF THE STUDY
Before the
writer choose this topic, he has some aims and objectives clearly in mind. The
objectives are fully itemized as follow.
a.
Scrutinization: To scrutinize some of the budget made in Nigeria with reference
to Enugu state and find out how the budgetary plans implemented affected the
state and the nation as a whole.
b. Searching
related literature: The writer has in mind of searching related literature
especially those of other countries and finding out ways through which
budgetary implementation can be best effected.
c.
Accountability: Accountability which has eaten the economic heart of this
nation is also a case of our study. The distressing of our banking systems, the
great frauds in different public sector and the failure of many contacts calls
for a serious research.
d. Policies
and programmes: The writer has decided to look for a management policy and
system that can organize and boost the economy of this nation.
1.3 THE
IMPORTANT OR SIGNIFICANCE OF THE STUDY
The nation
is presently suffering from serious economic crises. Our political economy is
more than complex and confusing people only exist and not living. The days are
difficult. The populace are scared and cry for help. Bad economy had fried the
fresh of the people. Let us look at some of the benefits that could be derived
from the study in relation to the solution to the above problems.
a. It will
determine whether budgetary plans if well and effectively implemented could
help in the restructuring of the economy.
b. It
evaluate the role played by every top management official in budgetary system
to know if they are adherent to set up plans and standards.
c. The study
will determine the roles of budget as a tool for efficient and effective
management of resources.
d. The study
will help researchers on budgetary plan implementation and effectively act as a
touch light to the government in their management system.
e. It will
evaluate the accounting and suggest some management systems and policies that
could help our economic managers to boost our economy and remain accountable.
1.4
STATEMENT OF HYPOTHESIS
Hypothesis
serves as guided for the researcher in the entire process of research endeavor
and they trim the main line of his study. They assumed answer to the principal
question of the study, the correctness of which he asses in the course of his
study.
Hypothesis
are neither proved nor improved, accepted or rejected, that is a matter of
future. In essence hypothesis interpose between a statement of the problems and
solution of the problems.
1.5 SCOPE OF
THE STUDY
In order to
examine in detailed the contents of budgets for at least two years. In order to
probe into the project execution part of the budget. Serious attention will be
paid to the various governmental projects..
There was a
plan to administer questionnaires to the local government areas in the state
but confirmed most of this in Enugu due to financial problems
1.6
LIMITATION OF STUDY
The
limitation of this study is due to many factors like problems on interview
meeting some of the personnel encountered could not pay attention to the time
factor and fear of revealing the secret of the managements functional policies
and formula of production.
FINANCE: The
course of this study actually came when the average Nigerian is living from
hand to mouth. Therefore transportation cost and material cost tended to
friction the research. Inspite of all these problems, the research was still
carried out successfully hence those who know the importance of research
sacrificed to pay attention.
1.7
DEFINITION OF TERMS
BUDGET
The word
budget is defined as a collection of documents which is the tangible
representation of the governmental unit plans. It may mean the present meaning
of annual estimates of revenue and expenditures and statement of financial
policy.
AGONIZING:
Causing extreme suffering
SCRUTINIZATION:
The act of careful looking or examination.
HYPOTHESIS:
A supposition put forward as a basis fro reasoning or investigation.
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