The impact of budgeting on governance in Nigeria (2014 - 2024)

This study examines the relationship between Nigeria's budgetary allocations, macroeconomic performance, and governance indicators over an 11-year period. Despite witnessing substantial growth in its national budget, expanding from ₦4.70 trillion in 2014 to ₦28.78 trillion in 2024, Nigeria's governance outcomes have not shown corresponding improvements, highlighting a pronounced disparity between fiscal expansion and institutional strengthening. Employing a longitudinal quantitative research design, the study analyzes empirical data sourced from reputable institutions including the Budget Office of the Federation and World Bank. The findings reveal several perspectives. Such as, among others, the absence of significant relationship between budgetary allocations and governance indicators which suggests fiscal growth has not translated into enhanced institutional performance. Furthermore, budgetary allocations exhibit no significant effect on World Governance Indicators, underscoring that fiscal expansion alone has not fostered governance improvements. The study establishes that fiscal growth unaccompanied by reforms addressing macroeconomic stability, budget execution transparency, and corruption is unlikely to drive meaningful governance enhancements in Nigeria. Recommendations proffered include enhancing budget transparency, optimizing recurrent spending, tackling inefficiencies in capital projects, pursuing macroeconomic stabilization, and fortifying governance frameworks to cultivate a more conducive environment for governance advancements in Nigeria.