The Global Debate on Budgeting: Empirical Evidence from Nigeria


  • Abogun Segun University of Ilorin, Ilorin Nigeria
  • Fagbemi Temitope Olamide University of Ilorin


Traditional budgeting, Budget criticisms, Empirical evidence from Nigeria


Empirical evidence from developed economies provides that budgeting is a veritable tool for planning, controling, coordinating, communicating, evaluating and improving performance and decision making. On the other hand, some experts have mounted wide-ranging criticism of the manner in which budgetary systems are typically implemented. It is claimed that budgeting is not a worthwhile exercise, adds no value to organizations, managers are dissatisfied with it, and therefore it should be abandoned. However, the main focus of this research is to provide empirical evidence from a developing economy on the relevance of the budgetary system. A primary source of data was used and data were collected through the use of a questionnaire. Altogether, a total of one hundred and ten completed questionnaires from nine selected manufacturing companies were analyzed.  A Non-Parametric test and descriptive statistics were used for data analysis. This study shows that, though the budgetary system is not perfect, its usefulness cannot be over-emphasized. The study reveals that budgeting is perceived by managers as a worthwhile exercise and a value-creation process. It is recommended therefore that research should be directed towards improving the budgetary system rather than totally abandoning it.


Download data is not yet available.

Author Biographies

Abogun Segun, University of Ilorin, Ilorin Nigeria

Department of Accounting and Finance.

Fagbemi Temitope Olamide, University of Ilorin

Department of Accounting and Finance.




How to Cite

Segun, A., & Olamide, F. T. (2009). The Global Debate on Budgeting: Empirical Evidence from Nigeria. Business Management Review, 13(1), 1-13. Retrieved from