ROLE OF BUDGETING IN THE PUBLIC SECTOR OF THE NIGERIA ECONOMY (A CASE STUDY OF NKANU WEST LOCAL GOVERNMENT AREA)

HISTORY OF BUDGETING

The word budget is derived from the old French word “Boygets” that is “Little Bag” Encyc lopaedlic volume 3 1985.  Balty 1970 even went to the extent of quoting the Bible to established the old history of budgeting in Egypt.  Joseph budgeted to cover expected supply and demand for corn.  Budgeting did not evolve at the same time in different part of the world.  For example, in England, Encyclopaedia Vol. 3 1985 budgeting evolved through the process of allocating money for the maintenance of the kings as was written in magana carta 1216.  [Read more…]