Nigeria: Budgeting for Public Good Through Best Practices

opinion

The clamour for the passage of the Fiscal Responsibility and Public Procurement bills in 2007 gave flesh to the fiscal reforms of the President Olusegun Obasanjo tenures which also ended that year. The signing into Acts of these public finance bills in 2007 by President Umaru Musa Yar' Adua of blessed memory were meant to guide the new fiscal and procurements regimes which after four years now are expected to yield concrete fruits in terms of not only putting food on the table of Nigerians but also to enhance the quality of their menu, through good budget practices, from formulation and enactment, to actual execution, audit and performance evaluations.

The need for prudent management of the people's money and the promotion of the economic objectives of the constitution contained in chapter 2 section 16 were behind the enactment of the Fiscal Responsibility and Public Procurement Acts 2007. : Some of these objectives are that

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