Government Budgeting in Nigeria, principles , policies and practices

The Nigerian federal government like other governments throughout the world is increasingly assuming new functions and conducting a wider variety of activities designed to respond to emerging social and economic needs. For instance, uplifting the welfare of the common man by lifting him from the bondage of the soil, the chains of poverty, the prison of complacency and sharing the fruits of development among the entire nation in order to mould the diverse population of the country into one nation tasks which no government bothered about some years ago are now part of the accepted responsibilities of the government. Consequently, the government has identified projects that will bring all Nigerians especially those in the rural areas closer to markets and the facilities of education, health and the other benefits of modernity. They have looked for projects that will accelerate industrialization and productivity throughout the country. It is in this context that the need to modernize and improve budgetary concepts and procedures so that the budget system can be an effective device for planning, reviewing and controlling government operations, particularly, in relation to the implementation of national development falls within the scope of public budget. Hence, the imperative need to make the budget constantly responsive to the ever increasing demands upon it in the search for better quality of life for the people.