Effect of Budget Implementation on Nigeria's Economic Development

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The impact of an increasing size of government operations on economic growth has become an emerging major public debate. Nigeria's public expenditure has been increasing year by year, mainly for the purpose of boosting her economic development. Unfortunately, the achievement of this objective has continued to elude the country. The major aim of this study was to determine how budget implementation by Nigeria affected her economic development during the period from 2000 to 2016. Specifically, the study sought to examine the effects of public capital and recurrent expenditures on Nigeria’s real gross domestic product. Using the variables’ data retrieved from the Central Bank of Nigeria Statistical Bulletin 2017, the study employed the ex post facto research design. The E-Views statistical software was employed to carry out multiple linear regression of the time series data. The results of the study showed that government capital and recurrent expenditures during the period had negative and non - significant effects on Nigeria’s real gross domestic product. These results suggest that due process was compromised at the budget implementation stage. The study recommends that government should ensure the strict adherence to due process in the implementation of its annual budgets. Future studies can be centered on assessing how the established linkages can be complemented with other policy variables so as to engender positive outcomes on economic growth.

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Effect of Budget Implementation on Nigeria's Economic Development

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