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All Journal Rowter Journal Economit Journal
T. W. Ojo
Department of History and International Studies, Federal University Oye Ekiti

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Budget Performance and Economic Growth in Nigeria: A Historical Review of the 4th Republic O.S. Osadola; T. W. Ojo; S. A. Oludemi
Rowter Journal Vol 2 No 1 (2023): Ȓowteɍ Journal
Publisher : Britain International for Academic Research (BIAR) Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33258/rowter.v2i1.828

Abstract

This paper traced and analyses how effective or not, budget has been an instrument of policy achievement in governance in Nigeria. It examines the relationship between budget performance and economic growth in Nigeria over the course of the 4th Republic (1999-2019). Budget performance in Nigeria has been characterized by both successes and challenges, including increased transparency and accountability, and efforts to invest in infrastructure and social services, as well as inadequate resource allocation, poor project planning and execution, and high levels of corruption. Economic growth in Nigeria has also been mixed over the past two decades, with a period of growth and stability in the late 1990s and early 2000s followed by a period of economic slowdown and instability due to declining oil prices and other factors. In recent years, Nigeria has made efforts to diversify its economy and has achieved some growth, but the country continues to face significant economic challenges. While it is difficult to draw a direct causal link between budget performance and economic growth, it is likely that improved budget performance, particularly in the areas of transparency, accountability, and resource allocation, could contribute to more sustainable economic growth in the country.
Nigeria's Foreign Economic Relations (1998-2014) T. W. Ojo; A. A. Adebayo
Economit Journal: Scientific Journal of Accountancy, Management and Finance Vol 2 No 4 (2022): Economit Journal: Scientific Journal of Accountancy, Management and Finance: (Nov
Publisher : Britain International for Academic Research (BIAR-Publisher)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33258/economit.v2i3.818

Abstract

Since Nigeria gained independence, its foreign policy has been guided by the pursuit of its national interests in bilateral and multilateral relationships. This has remained a reflection of Nigeria's understanding of the external environment and internal dynamics. A government's actions that deal with security, defence, international political ties, and international economic interactions are referred to as its foreign policy as a concept. In order for sovereign states to remain relevant within the context of modern global political economy, the post-cold war international system has highlighted the convergence of sovereign states as a desirable goal. In light of this, a state's relative benefits are primarily determined by the design, focus, and execution of its economic diplomacy. Nigeria's economic diplomacy primarily aims to diversify its economic foundation, increase its global market, draw in foreign investment, and control its debt. This study basically looked at how Nigeria's economic diplomatic interactions have influenced or otherwise hindered its development goals. The research focuses on Nigeria's external trade patterns, the draw of foreign investments, foreign loans, and management of external debt. The qualitative descriptive approach of data analysis revealed that the issue of Nigeria's development has not been considerably addressed by the country's foreign economic ties.
Co-Authors A. A. Adebayo O.S. Osadola S. A. Oludemi