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Bullion

Keywords

National budget, Government expenditure, National Economic Empowerment and Development Strategy (NEEDS)

Abstract

The first set of problems in realizing the benefits of a national budget in Nigeria, the 2003 Federal Government Budget in particular, is the delay in formulation and presentation to the National Assembly. This paper examines various definitions of the national budget as understood by some of the important stakeholder. It discusses budget implementation and management, budget 2003 and the people, strengthening programming as a basis of budgeting for development, and co-ordination of economic management in 2003. Finally, the study concludes that NEEDS is a welcome idea but its goals will prove difficult to achieve because of the flaw in concept, based as it is on projects rather than programmes. For example, if the implementation in the medium term inconveniences the life of an average Nigerian, it becomes counter-productive. But if it factors in an improved well-being of the people in an expanded framework, the goals will be more attainable. For example, in selling government-owned houses as a project and displacing current occupants, a medium term programme of personal house ownership was needed.

Author Bio

The author is an Economist and UNICEF Consultant.

Publication Title

CBN Bullion

Issue

2

Volume

28

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