Budget Implementation and Economic Growth in Nigeria: An Exploratory Review (2014-2018)

Abstract

The study examined the implementation of budget and economic growth in Nigeria from 2014-2018. The objective is to investigate the impact of Public Capital Expenditure (PCE), Public Recurrent Expenditure (PRE) and Public Debt Expenditure (PDEX) on economic growth of Nigeria during the period under review. Using ex- post factor research design, data on PCE, PRE and PDEX (explanatory variables) and economic growth (dependent variable) proxied by Gross Domestic Product (GDP) were collected from Central Bank of Nigeria (CBN) and National Bureau of Statistics (NBS) reports. The data were empirically analyzed using multiple regressions. The results revealed that PCE and PRE have significant impact on GDP except PDEX that do not show any impact. The study recommended that government should pay attention to budgeting more of her resources (revenues) on PCE and PRE, implement and monitor the budgets for desired economic growth. Budget