INTERNAL RESOURCES MOBILIZATION AND FINANCIAL CONTROL OF GOVERNMENT BUDGET IN SOUTHWEST NIGERIA

Abstract

This study examined the impact of internal resources mobilization and financial control of government budget in southwest Nigeria. The study focused on all the southwest states over a period of 15 years (2003 to 2017). Pooled OLS estimation, fixed effect estimation and random effect estimation were used in the study, alongside trend analysis. Analysis showed that Southwest States performances in resources mobilization showed a significant trend as each of the six states showcased a fluctuating pattern of resources mobilization although in varying strength and that internally generated revenue exert positive and significantly impact on government financial control measured in terms of revenue budgeted actual variance (0.407566,p=0.000 < 005)and expenditure budgeted actual variance (0.1694784, p=0.000 < 0.05). The study concluded that internal resources mobilization has significant positive influence on the level of financial control of government budget in Southwest Nigeria. Hence state government in southwest Nigeria should ensure adequate generation of revenue within the States, so as to boost the level of financial control in government budget process.