Greener Journal of Banking and Finance Vol. 1 (1), pp. 010-014, February 2014.
© 2013 Greener Journals
Manuscript Number: 080314316
Budget Monitoring and Control in Selected Federal Ministries in Nigeria
Dr. Abdullahi Audu Malgwi
Department of Accountancy, University of Maiduguri, Borno State-Nigeria.
Email: Malgwi94 @gmail .com, Mobile: 08162195358
This paper assesses the instrument budget in monitoring and control of some selected federal ministries’ activities in the Nigerian public sectors. Budget delays and approvals could lead management of some organizations not being able to achieve their desired targets. This paper uses primary and secondary sources of data through questionnaire administered to classified respondents and documents of those Ministries. Statgraphic18 is used in the data analysis to obtain the coefficients in measuring the inefficiency or efficiency of the instrument budget. The results show that budget monitoring is effective with a mean response of 25, while budget control is neither effective nor ineffective with a mean response of 21. It also finds that there is no significant relationship between budget monitoring and budget control. The study recommends that identification of sources of revenues is critical for budget monitoring and control in Nigerian federal Ministries.
Keywords: Budget monitoring, Budget control, Federal ministries, Nigeria.
Akin A, (2009), Budget monitoring performance Evaluation and Reporting, www.adbi.org/conf-seminar-papers/2005/12/13/1589.
Benson M, Ryan K and Liberty P, (2012): Budget Implementation, Monitoring and Control
Burkhead J, (1956), Government Budgeting, John Willey & Sons Inc New York.
Kola G, (2014), Budget monitoring and Tracking, Center for constitutional Governance, Illupeju, Lagos
Malgwi AA and Unegbu AU, (2012), Public Sector Budgeting: Need for Balance scorecard perspective, Scientific & Academic publishing, International Journal of Finance and Accounting, Vol. 1, No. 3, 2012,
Ogwu M, (2014), Jonathan Secretly signed 2014 budget, Federal Government to Borrow N600billion to implement 2014 budget, Weekly Trust, Sunday, May, 2014
Perrin JR, (1958), Budgeting, Planning and control in British Industry, PhD Thesis, University of London
Olawale OR, Ibikunle OO, Francis FO and Caleb AM, (2012). Performance budgeting, its planning, implementation and monitoring process: The case for Nigeria’s Science, Technology and Innovation Budget.
Olurankinse F, Yabugbe PO and Ibadir LA, (2008). Budget as a tool for control and performance evaluation in the Public sector. Souces?
Onuorah A and Appah E, (2012). Accountabilty and Public Sector Financial Management in Nigeria, Arabian Journal of Business and Management Review, Vol 1, No.6, January, 2012
Omolehinwa E, (2001). Government Budgeting in Nigeria, Pumark series, Lagos, Nigeria.