Implication of Budgeting and Budgetary Control on Infrastructural Development in Nigeria.
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Date
2016
Journal Title
Journal ISSN
Volume Title
Publisher
Department of Accounting, College of Social and Management Sciences, Afe Babalola University, Ado-Ekiti, Nigeria.
Abstract
In most developed countries, investment in infrastructures is a key determinant of economic growth and development. In Africa, Nigeria in this case is characterized as poor infrastructures due to an unsystematic investment in infrastructures development which has resulted to poor economic and social activities. On the other hand, budgeting is an exercise that is mainly concerned with the allocation of state resources amongst many competing societal needs. Therefore, this study examines the relationship between that exist between the government annual budgeting and infrastructures in kwara state. In achieving this objective and other specific objectives, two variables were identified; Budgeting, and Infrastructure. The primary source of data using a self-administered questionnaire was used, and a non-parametric tool. (Kendall tau test statistics) was adopted in examining the association between the study variables. The result of the hypothesis tested shows a kendall tau – b correlation of 0.52, signifying a positive but weak relationship between budgeting and infrastructural provision. It is therefore recommended that serious attention must be given to budgeting formulation, implementation and control in order to meet the infrastructural needs of the society.
Description
Keywords
Budgeting, Budgetary Control, Infrastructures, Development, Kendall-Tau
Citation
9. Fagbemi, T.O., Abogun, S., Noah, A.O. & Sakariyah, O. R. (2016): Implication of Budgeting and Budgetary Control on Infrastructural Development in Nigeria. International Journal of Accounting, Finance and Management. 1(1); 53-70, Published by Department of Accounting, College of Social and Management Sciences, Afe Babalola University, Ado-Ekiti, Nigeria.