Monitoring the Internal Resources Mobilization and Financial Control of Government Budget in Southwest Nigeria

The Nigerian budgeting history has been under both the military and the civilian regimes since independence. The exact stages of budgeting procedures can not really be specified under the military. The effect of the mobilisation of internal resources and financial regulation of the government budget in Southwest Nigeria was explored in this report. The research centred on all southwestern states over a 15-year period (2003 to 2017). Along with trend analysis, pooled OLS estimation, fixed effect estimation and random effect estimation were used in the research. The result showed a significant trend in the output of resource mobilisation, although the strength of fluctuation across the sampled states differed. Internally generated income, calculated in terms of revenue budgeted actual variance (0.407566,p=0.000 < 005) and expenditure budgeted actual variance (0.1694784, p=0.000 < 0.05), has a positive effect on government financial management. This study concluded that the mobilisation of internal capital has had a substantial positive effect on the extent of financial regulation of Southwest Nigeria’s government budget. The study identified the significance of internally generated revenue in the implementation and control of the discussion budget in Southwest Nigeria. In order to increase the level of financial control in the government budget process, the state government in southwestern Nigeria should therefore ensure adequate revenue generation within the states.

Author (s) Details

O. Olaoye Festus
Department of Accounting, Ekiti State University, Ado-Ekiti, Ekiti State, Nigeria.

Akadi, Omolara
Department of Accounting, Ekiti State University, Ado-Ekiti, Ekiti State, Nigeria.

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