Role Of Budgetary Allocation On Nigerian Economic Growth And Development (2010-2014)

ABSTRACT

The topic of this research work is role of budgetary allocation on Nigerian economic growth and development. The study employed secondary sources of data and were obtained from local and international agencies, such as Federal Ministry of Finance (FMF), Federal Auditor General Office (FAGO), etc. The techniques of data analysis used in the study was simple regression analysis which was used to access the budget of Nigeria from 2010-2014 and coefficient of correlation that was used to test the GDP of Nigeria from (2010-2014). Thus, confirming the alternate hypothesis that, there is a significant relationship between budgetary allocation and Gross Domestic Production (GDP). It was concluded that, budget allocation is positively related to Nigeria economic growth thus concluding that a higher budget allocation will automatically influence the GDP of the country and that the increase in GDP over the year has been dependent on budgetary allocation. The researcher recommend among other things that government should increase or improve on budgetary allocations so as to enhance economic growth and development and also that budgetary allocation should not be ritualistic, rather it should be targeted in improving the life of well being of the citizen.