A budget is basically an estimate of revenues and expenditures during a fiscal period, usually one year and in the case of Nigeria running from January to December
However, a Budget is not just a technical compilation of revenue and expenditure estimates; it outlines government's views of the socio-economic state of the nation. It helps translate government’s policies, political promises, revenue collection and expenditure of funds into meeting the country’s competing developmental needs It is arguably the most important policy statement made by the Government in the course of each year. It is a moral document. It reflects the fundamental values underlying nation
The link between the National Development Plan (e.g. RHIDP NDP/ERGP, Renewed Hope Agenda) and the annual Budget is the Implementation Plan The goal is to ensure that the budget is policy-based, consistent with medium term fiscal policy objectives and scarce resources mobilised are well applied.
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