Stocktaking the Reforms in Public Financial Management

Lev Freinkman and Michael L.O. Stevens

MPRA Paper from University Library of Munich, Germany

Abstract: The paper documents how Nigeria’s public financial system stacks up against international standards, the better to see current institutions and their capacities in a wider perspective. It uses Public Expenditure and Financial Accountability (PEFA) framework for analysing the Nigeria's systems and processes. The purpose is not to demonstrate that Nigeria falls short of international best practice, but rather to show where progress has been made and where much still remains to be done, both in the improvement of formal rules and processes, but also in the capacity to follow them. The latter is at the heart of the challenge. For, while the design of Nigeria’s PFM system clearly needs modernizing, even to operate it as once intended would be an immediate improvement.

Keywords: Nigeria; PEFA; fiscal management reforms; best PFM practice (search for similar items in EconPapers)
JEL-codes: H20 H50 H60 O23 (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:10154

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