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The Contours of Budget Credibility in Nigeria
Nigeria’s federal budget suffers consistently from low credibility, meaning that revenues are under-collected and actual spending falls short of targets in approved budgets. Poor performance of the federal budget in Nigeria is often attributed to fluctuating oil prices and oil revenues. But is this correct? This document examines the overall budget credibility challenges in Nigeria between 2009 and 2016. While it was found that oil revenue does play a role in Nigeria’s low budget credibility, much of the problem is explained by other factors. Here are some of the key findings.
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