An examination of determinants of fiscal policy effectiveness in Nigeria: Evidence from budget implementation in Lagos State (2000–2020).
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Background of the study
Fiscal policy effectiveness is a cornerstone of sound economic management, and its success largely depends on the implementation of well-designed budgets. In Lagos State, fiscal policy has undergone significant reforms between 2000 and 2020, with efforts aimed at improving revenue mobilization, curbing wasteful expenditure, and enhancing transparency in budget implementation. Key determinants that affect fiscal policy effectiveness include administrative capacity, political stability, and institutional accountability. Empirical studies have shown that robust budgetary practices can lead to improved public service delivery and stimulate economic growth (Ibrahim, 2023). However, challenges such as bureaucratic inefficiencies, policy inconsistencies, and corruption have often undermined these reforms (Chinwe, 2024). Recent technological advances in financial management have begun to address some of these issues, yet significant gaps remain. This study investigates the determinants that influence the effectiveness of fiscal policy in Lagos State by analyzing budget implementation practices, identifying bottlenecks, and evaluating their impact on economic outcomes (Oluwaseun, 2023).
Statement of the problem
Despite ongoing fiscal reforms, Lagos State continues to face challenges in achieving effective budget implementation. Inefficiencies in administrative processes, lack of transparency, and political interference have reduced the impact of fiscal policy on economic performance (Ibrahim, 2023; Chinwe, 2024). This disconnect between policy design and execution results in suboptimal public service delivery and diminished investor confidence. The study seeks to identify the key determinants that hinder effective fiscal policy implementation and to propose strategies that can bridge the gap between policy objectives and actual outcomes.
Objectives of the study:
- To analyze the determinants of fiscal policy effectiveness.
- To assess budget implementation practices in Lagos State.
- To recommend improvements for enhancing fiscal performance.
Research questions:
- What determinants influence fiscal policy effectiveness in Lagos State?
- How do administrative inefficiencies affect budget implementation?
- What measures can improve fiscal policy outcomes?
Research Hypotheses:
- Efficient budget implementation positively affects fiscal policy outcomes.
- Administrative inefficiencies reduce policy effectiveness.
- Enhanced transparency leads to better fiscal performance.
Significance of the study
This study is significant as it examines the determinants of fiscal policy effectiveness through the lens of budget implementation in Lagos State. Its findings will inform policymakers on how to optimize fiscal strategies and improve public financial management, thereby promoting sustainable economic growth and enhancing public trust (Ibrahim, 2025).
Scope and limitations of the study:
This study is limited to evaluating fiscal policy effectiveness in Lagos State through an analysis of budget implementation practices and administrative processes.
Definitions of terms:
- Fiscal Policy: Government strategies involving taxation and expenditure.
- Budget Implementation: The process of executing a government’s budget.
- Administrative Efficiency: The ability to manage resources and policies effectively.
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