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Making A Case For Fiscal Responsibility In Governance

As it is globally acknowledged the primary responsibility of government is to make life more abundant to those that are being led. Apart from the issue of security which is considered as very germane, those saddled with the responsibility of leading others must at all times ensure that they are prudent in the management and allocation of resources that have been placed at their disposal.

This presupposes that government officials must always mobilise and allocate both human and natural resources in manner that would enhance the living condition of the people they serve in a more progressives and sustainable manner As the economists would always argue, resources are usually scarce at any given point in time, efforts must be geared towards making sure that recourse allocation must be tailored to the needs of the people for whom they are meant to serve.

In furtherance to this, governments as a form of ritual come up with an expenditure and earnings projections profile that encapsulates its fiscal and monetary policies within a given financial year.

The document (budget) contains estimates of revenues that would accrue to the government within that fiscal year from all its revenue sources as well as how those in authority hope to allocate and deploy them to the var- ious areas or sectors of the economy.

It also contains detailed framework with regards to timeline and the expected benefits to be derived from such fiscal efforts by the people from the government. Though such documents are usually vetted by the legislature who is statutorily saddled with such responsibility, the document when passed becomes a law of the Federation which must be strictly adhered to by the operators in the executive arm of government.

A critical appraisal of the Nigerian environment has shown that the ritual of budgeting has not in any been impactful to the people owing to several man made or institutional impediments that have continued to dodge its path. It has however become the norm for the people to see their president visit the National Assembly annually to read his economic and budgetary intentions to members of the legislative arm and at the end of the day, nothing comes out of it to improve their lots.

To ensure that the budget meets its expected end, lot things must be put in place to achieve this goal in Nigeria. Many of the of such entails institutional reforms as well as attitudinal in the governmental structure. It must be noted that the progress and machinery of government is very intricate and delicate hence the operators must ensure that at all times, the people of the given territory where they operate must be carried along in the task of administering them.

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