Budgeting in agricultural based Research Institutes and its problems in Nigeria

Abstract

This report reviews the present system of budgeting in Agricultural based Research Institutes in Nigeria. Highlight of investigations include historical background of the budgeting system in Nigeria, existing budgeting systems, namely rolling plans, windfall budgets, presidential and improved presidential system of budget. This is followed by problems of budgeting, monitoring and its implementation. Findings revealed the problems of budgeting inadequacies including non weighty budgets, absence of focus and budget based solely on aspiration, absence of proper monitoring and disciplinary measure, too many projects with trickling limited fund and complete absence of post-budget analysis to determine trend of events. The end result is very low success rate in budget implementation. It is recommended that activities in any given year should be focused based on available resources, creation of institutional planning and monitoring unit which should be strengthen to report directly to the chief executive officer. Finally the unit should be made up of properly trained personnel.