Budget Monitoring and Control in Selected Federal Ministries in Nigeria

January 30, 2014

Malgwi

Greener Journal of Banking and Finance Vol. 1 (1), pp. 010-014, February 2014.

Research Paper

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

Abstract:

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.

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Journal Name : citation_journal : Greener Journal of Banking and Finance

Publication Status/Date : usp_status_date : February 2014