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National Budgeting, Security Issues and Sustainable Development in Nigeria

Gershon, Obindah and lbidunni, Ayodotun S. and Oye, Queen-Esther and Ufua, Daniel Ebakoleaneh and Osabuohien, E. S. C. and Covenant University, Policies (2021) National Budgeting, Security Issues and Sustainable Development in Nigeria. CENTRE FOR ECONOMIC POLICY AND DEVELOPMENT RESEARCH, 03.

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The national budget has become a vital tool for resource allocation to the defence (or often referred to as security) sector due to growing insecurity in Nigeria. When appropriately applied, the national budget aids economic growth and sustainable development in the country. Even though several factors such as weak policy and institutional framework, inadequate political commitment, economic and social deprivations and the militancy of religious and ethnic extremism and conflict have contributed to the lingering insecurity, inadequate funding seems to be the most important one. Prevailing and increasing insecurity in Nigeria appears to indicate weakness and inadequacy of her budgeting process or implementation. The looming danger associated with the spate of recent insecurity threatens sustainable development and calls for an assessment to identify and propose sustainable solutions. Therefore, this policy brief examines the connection between national budgeting and security issues in achieving sustainable development in Nigeria. Specifically, in the face of budgetary constraints and other competing socio-economic factors or indices -in the post CO VI D-19 era-a key question is "what should be the optimal allocation of resources to the defence sector?". Among others, this policy document recommends that Nigeria's national budget on defence should be emphatic on human capital development as a key area of investment. Also, emphasis should be placed on innovative ways to effectively combat insecurity (like espionage) rather than focusing on the purchase of military equipment that places further constrains on the budget and address the cleavages facing Nigerian society.

Item Type: Article
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User: Mrs Patricia Nwokealisi
Date Deposited: 21 Oct 2021 15:49
Last Modified: 21 Oct 2021 15:49

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