Budget Governance and National Development: The Nigerian Perspective

Abstract

Over the years, developing countries have suffered dysfunctional governance systems as a result of inapt allocation of resources, inept revenue systems, fragile budgetary system and weak delivery of critical public services. This adopts ethical theory using secondary data to examine the effects of budget governance on national development. The study generates evidence on the gaps in transparency and accountability mechanisms on budgets processes in Nigeria. The study reveals that budget governance has been seriously abused by both legislatures and the executives and as a result gravely affects national development. The study envisioned that transparency and accountability could bear fruit if budget stakeholders, technocrats, and budget processes are opened up to greater participation of the target beneficiaries and scrutiny by the relevant institutions. It further recommend that access to budget information and budget processes is a potential to citizens empowerment and could make governments respond to their demands. Finally, to attain national development, the study recommend for adherence to the fundamental principles of good budgetary governance, such as the management of budgets within clear, credible and predictable limits for fiscal policy.