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Budgetary System Reforms in Nigeria: Implications for Poverty Reduction

Ben-Caleb, Egbide and Omoleyinwa, Eddy and Imoleayo, Foyeke O. and Adeyemo, Kingsley A (2016) Budgetary System Reforms in Nigeria: Implications for Poverty Reduction. The Social Sciences, 11 (23). pp. 5584-5589. ISSN 1818-5800

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Abstract

This study was conceptualized to investigate the influence (if any) of budget reforms specifically the Medium Term Expenditure Framework (MTEF) and the Fiscal Responsibility Act (FRA) on related reforms and poverty reduction in Nigeria. Budgetary reforms in particular and Public Finance Management (PFM) reforms in general are believed to bring about improvement in the budgetary outcomes which translate directly or indirectly to improvement in national wellbeing including poverty reduction. Conceptually, an indirect association exist between budget reforms and poverty reduction, an empirical nexus is however a moot. Historical time series data were collected representing 7 years before and 7 years after the adoption of MTEF and 5 years before and 5 years after the enactment of FRA. Utilizing the pre-test/post-test deign of a Paired sample t-test, the results revealed that Poverty Index (POI) in Nigeria reduced after the introduction of both MTEFand FRA. However, while the reduction after the introduction ofMTEF was statistically significant, the reduction after the enactment FRA was not insignificant. The study ecommends the enforcement of stricter adherence tobudgetaryand other public finance management reforms in order to generate greater impact and on the economy.

Item Type: Article
Uncontrolled Keywords: Budget system, reforms, medilllll term expenditure framework, fiscal responsibility act, poverty reduction
Subjects: H Social Sciences > HF Commerce > HF5601 Accounting
H Social Sciences > HG Finance
Divisions: Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User: Mrs Patricia Nwokealisi
Date Deposited: 17 Jul 2017 16:07
Last Modified: 01 Sep 2017 08:05
URI: http://eprints.covenantuniversity.edu.ng/id/eprint/8586

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