Analysis of Inhibiting Intrigues of Budget Implementation and Economic Performance in Nigeria (1999-2018)

Gbalam Peter Eze (Ph.D) and Tonye Richard Apiri
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Gbalam Peter Eze (Ph.D): Banking & Finance Department, Faculty of Management Sciences, Niger Delta University Wilberforce Island, Bayelsa State, Nigeria
Tonye Richard Apiri: Banking & Finance Department, Faculty of Management Sciences, Niger Delta University Wilberforce Island, Bayelsa State, Nigeria

International Journal of Research and Scientific Innovation, 2020, vol. 7, issue 3, 35-43

Abstract: Budget has gained prominent importance to government and nations as it entails quantitative projected financial plan for the various levels of government. Thus, the need of government in attaining set national objectives give rise to the formulation and formalization of budget. This study examined the inhibiting intrigues of budget implementation on economic performance in Nigeria. The study employs the use of secondary source of data obtained from National Bureau of Statistics (NBS) Fact File 2018, and subjected them to ADF stationarity and Johansson co-integration tests. The study parameters and outlined hypotheses were determined and tested using t-statistics outcome in the error correction mechanism (ECM). The study found that a unit reduction in government capital expenditure and government recurrent expenditure will decline Nigerian economic performance by 19% and 40% respectively. This equally indicated that there is a significant effect of budget implementation determinants on economic performance in Nigeria within the study span. The constrained recommendations of the study includes: Government of the Federal Republic of Nigeria to as matter of urgency to imbibe the culture regardless of region and religion differences to implement 95% of her capital and recurrent expenditure in the annual budget to achieve all round sectorial increase in economic performance and for government not to consider recurrent expenditure implementation as basis for immediate respite but rather on long term integration and development of the country.

Date: 2020
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