Author(s) :

KANU, Ikokwu Ezuma, PhD.

Volume/Issue :

Abstract :

This study examined the relationship between public financial management (PFM) and budget implementation and its implications for sustainable development in Nigeria. The objectives were to examine the effect of public financial management practices on budget implementation, identify the challenges affecting effective public financial management and budget implementation, and evaluate their implications for sustainable development. The study was anchored on the Social Maximum Advantage Theory, which emphasizes the efficient allocation and utilization of public resources for societal welfare. A qualitative research design was adopted, relying on documentary sources such as government reports, journal articles, policy documents, and publications from international development organizations. Data were analyzed using content analysis. The findings revealed that sound public financial management practices, including fiscal discipline, transparency, accountability, effective revenue mobilization, and expenditure control, significantly improve budget implementation in Nigeria. However, corruption, weak institutional capacity, political interference, revenue leakages, delays in budget approval, and inadequate monitoring and evaluation mechanisms continue to hinder effective implementation. The study further found that efficient public financial management and successful budget implementation promote sustainable development through improved infrastructure, enhanced public service delivery, poverty reduction, economic growth, and better social welfare. The study concluded that effective public financial management is essential for achieving successful budget implementation and sustainable national development. It recommended strengthening transparency and accountability mechanisms, enhancing institutional and human capacity, adopting technology-driven financial management systems, and improving monitoring and evaluation processes to ensure effective budget execution and sustainable development in Nigeria.

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