The Role of Public Sector Accounting in Enhancing Fiscal Discipline in Nigeria: A Study of the Budget Office of the Federation
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Background of the Study
Fiscal discipline is critical for sustainable economic growth and development. Public sector accounting, as a tool for financial management, ensures that government expenditures align with budgetary allocations and revenue generation (Okeke & Yusuf, 2023). In Nigeria, the Budget Office of the Federation plays a pivotal role in enforcing fiscal discipline through budget preparation, implementation, and monitoring.
However, Nigeria’s fiscal management has been plagued by issues such as overspending, budgetary indiscipline, and poor accountability. Public sector accounting reforms, including the adoption of IPSAS, aim to address these challenges by promoting transparency and accountability in financial reporting (Adeleke & Ibrahim, 2024). This study investigates how public sector accounting contributes to enhancing fiscal discipline in Nigeria, focusing on the Budget Office of the Federation.
Statement of the Problem
Despite efforts to improve fiscal management, Nigeria continues to face fiscal indiscipline, characterized by excessive borrowing, misallocation of resources, and poor budgetary compliance. Weak public sector accounting systems have been identified as a contributing factor, undermining the ability to enforce accountability and transparency (Olatunji & Ahmed, 2025).
The Budget Office of the Federation, as the custodian of Nigeria’s budgetary process, faces significant challenges in ensuring fiscal discipline. This study examines the role of public sector accounting in addressing these challenges and promoting prudent fiscal management.
Objectives of the Study
- To assess the role of public sector accounting in promoting fiscal discipline in Nigeria.
- To evaluate the effectiveness of the Budget Office of the Federation in enforcing budgetary compliance.
- To identify challenges affecting public sector accounting in Nigeria.
Research Questions
- How does public sector accounting promote fiscal discipline in Nigeria?
- How effective is the Budget Office of the Federation in enforcing budgetary compliance?
- What challenges affect public sector accounting in Nigeria?
Research Hypotheses
- Public sector accounting significantly enhances fiscal discipline in Nigeria.
- The Budget Office of the Federation effectively enforces budgetary compliance.
- Challenges in public sector accounting negatively impact fiscal discipline.
Scope and Limitations of the Study
The study focuses on the role of public sector accounting in promoting fiscal discipline, with specific reference to the Budget Office of the Federation. It covers the period from 2017 to 2024. Limitations include restricted access to financial records and the complexity of assessing fiscal compliance across multiple government agencies.
Definition of Terms
- Public Sector Accounting: Financial reporting processes used by government institutions to manage public resources.
- Fiscal Discipline: Adherence to budgetary rules and financial management principles to prevent overspending.
- Budgetary Compliance: The extent to which expenditures align with approved budgets.
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