Due Process and Fiscal Responsibility Act As Tools for Effective Fund Management in Nigeria
2014 Conference Proceedings, Faculty of Management Sciences, Nnamdi Azikiwe University, Awka.
25 Pages Posted: 27 Jul 2017 Last revised: 10 Sep 2017
Date Written: October 13, 2014
The study assessed due process and fiscal responsibility acts so as to determine whether they will be effective in fund management. Some government ministries, departments and agencies (MDAs) were selected as sample for the study. The study made use of primary and secondary data in eliciting the required information needed for this research. An instrument was designed using the 5-point Likert scale ranging from strongly agree (5) to strongly disagree (1). The instrument has 16 items. A total of 192 samples were drawn from the target population using the simple random sampling technique. Out of which the 192 questionnaire administered, 157 were returned upon which the analysis was based. This represents 82% response rate. Data analysis was carried with the aid of SPSS (Statistical Package for Social Sciences). Findings showed that due process and fiscal policies have helped to create new orientation in the conduct of government business when compared with the past procurement system. Based on the finding, the researchers recommended that, for due process and fiscal policies to achieve their lofty goals for the country, the government should exercise sincere political will and sincerity of purpose to implement the provisions of the public procurement Act 2007 and Fiscal Responsibility Act 2007, to the letter.
Keywords: Due Process, Fiscal Responsibility Act, Fund Management
JEL Classification: L25, M41, M51
Suggested Citation: Suggested Citation