The budget should provide credible guidance on fiscal policy. A government’s budget is a comprehensive financial plan for: Identifying resource allocation/spending priorities Providing a framework for implementing policy goals Ensuring fiscal discipline and promoting accountability An analysis of forecast errors in the budget can shed light on the credibility of the budgeting process Persistent bias in budgets undermines credibility, can create macroeconomic imbalances, and reduces private sector confidence

Driving Overarching Priorities of Mr. President. 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.