An Evaluation of the Role of Government Accounting in Managing Subsidy Programs in Nigeria: A Case Study of the Fuel Subsidy Scheme
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Background of the Study
Subsidy programs are essential mechanisms used by governments worldwide to cushion the economic burden on citizens by reducing the cost of essential goods and services. In Nigeria, the fuel subsidy scheme has been a major policy initiative aimed at stabilizing fuel prices and ensuring affordability for consumers. However, the management of the scheme has been plagued by inefficiencies, corruption, and a lack of transparency, leading to substantial revenue losses for the government (Adesina & Olagunju, 2023).
Government accounting plays a critical role in the management of subsidy programs by ensuring accurate recording, monitoring, and reporting of financial transactions. Effective accounting practices are vital for tracking subsidy expenditures, preventing fraud, and promoting accountability. Despite the introduction of reforms such as the Petroleum Industry Act (PIA), the fuel subsidy scheme continues to face challenges, highlighting systemic gaps in government accounting practices (Ibrahim & Yusuf, 2024). This study evaluates the role of government accounting in managing Nigeria’s fuel subsidy scheme, with a focus on its impact on transparency and efficiency.
Statement of the Problem
The Nigerian fuel subsidy scheme has been marred by allegations of financial mismanagement, over-invoicing, and fraud, costing the government billions of naira annually. Weaknesses in government accounting systems, including poor oversight and inadequate reporting mechanisms, exacerbate these issues (Okonkwo & Bello, 2025).
While reforms have aimed to address these problems, their effectiveness remains limited due to inconsistent implementation and political interference. This study seeks to evaluate the role of government accounting in addressing these challenges, identifying areas for improvement in the management of the fuel subsidy scheme.
Objectives of the Study
- To assess the effectiveness of government accounting in managing the fuel subsidy scheme in Nigeria.
- To identify challenges affecting government accounting practices in the subsidy program.
- To propose strategies for improving transparency and accountability in the management of fuel subsidies.
Research Questions
- How effective is government accounting in managing the fuel subsidy scheme in Nigeria?
- What challenges affect government accounting practices in the fuel subsidy scheme?
- What strategies can enhance transparency and accountability in fuel subsidy management?
Research Hypotheses
- Government accounting significantly enhances the management of the fuel subsidy scheme.
- Challenges in government accounting practices negatively impact the efficiency of subsidy management.
- Improved government accounting practices enhance transparency and accountability in subsidy programs.
Scope and Limitations of the Study
The study focuses on the Nigerian fuel subsidy scheme, examining the role of government accounting between 2015 and 2024. Limitations include restricted access to detailed subsidy records and potential biases in respondent feedback.
Definition of Terms
- Government Accounting: Financial processes used to track and report public expenditures.
- Fuel Subsidy Scheme: A government program aimed at reducing the cost of fuel for consumers.
Transparency: Open and accountable management of public resources.
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