Budgetary Control and Public Sector Financial Management in Nigeria

This paper examines the effect of budgetary control on government financial management in Nigeria. The study acquired secondary data from various governmental statistical agencies on Nigeria's budgetary control indicators. Descriptive statistics and panel regression models were employed for data estimation. The study revealed that government revenue budget variance analysis has a positive (0.213762) and significant (P=0.0000<0.05) impact on government funds, while government tax compliance rate has a positive (0.015558) and significant (P=0.0196<0.05) effect on public funds. Additionally, government revenue budget variance analysis has a positive (0.378444) and significant (P=0.0000<0.05) impact on government finances, and government tax compliance rate has a positive (3.002558) and significant (P=0.0000<0.05) effect on government finances in Nigeria. The study's findings indicate that conducting variance analysis of government revenue budgets positively impacts the financial health of the government. Additionally, increasing the rate of government tax compliance contributes significantly to fiscal stability. Based on these insights, it is recommended that the Nigerian government prioritize and enhance efforts in revenue budget analysis and tax compliance enforcement to bolster its financial resources and improve overall financial management.