The Impact of Budget and Budgetary Control on Financial Performance of Tertiary Institution in Nigeria

ABSTRACT The study examined budget and budgetary control system on financial performance of tertiory onstitution in Niguria It specifically investigated the relationship berween. Budget Planning Monitoring and Control, budger participation, budget evaluation, operating cash flow, current ratio debt equity ratio and asset turnover in Nigeria. This study adopted ex-post facto research design. Relevant data regarding the variables under-study were extructed from the Central Bank of Nigeria (CBN) staristical bulletin. The study period covered fifteen (15) years spanning fram 2008 to 2023, while error correction model was used to analyze the dota. The findings revealed among other things that, there was presence of co-integration (long-run relationship) among the variables in the model, budget planning, budget evaluation, control and monitoring hove significum relationship with financial performance in Nigeria, while budget participation is not significantly related to financial performance of the tertiary institution in the long run. The study therefore concluded that there is significant relationship budgetary control system and financial performance of tertiary institution in Nigeria, depending on the variable of interest. Likewise, the study recommended among other things that government should ensure efficiency and effectiveness in the budgeting and budgetary control system due to the insignificant influence of budget participation on financial performance both in the long run and short run which is a pure indication of poor budgeting and budgetary control in the country