Capital project decisions and socio-economic development in Ekiti state, Nigeria
Augustine Sunday Oge and Joshua Adewale Adejuwon
This study's main goal is to assess how capital project choices affect the socioeconomic advancement of the populace in Ekiti State. The specific goals are to: I learn how capital project decisions are made in Ekiti State; (ii) determine the impact of the decision on education on socioeconomic development in the Ekiti State government; (iii) look into the impact of the decision on health on socioeconomic development in Ekiti State; (iv) look into the impact of the provision on socioeconomic development in Ekiti State. To ascertain how choices regarding the construction of high-quality roads impact the socioeconomic growth of Ekiti State. The focus will be on how capital project choices affect the socioeconomic advancement of the residents of Ekiti state. Additionally, it will look at the distribution of resources across capital projects. To put it another way, how decisions are made by decision-makers when approving capital projects in the State government. This study was conducted primarily because there hasn't been much research on how state government resources are allocated to investments or initiatives that might improve the quality of life for citizens and the social and economic growth of the State. The study is anticipated to be useful to academics with a particular interest in budgeting, particularly for capital projects. They will gain from it since it will enable them to see implementation as just one variable among many. It will broaden their view of other factors like formulation that could influence how individuals grow. It is anticipated that going beyond budgeting as a habit and completing all righteousness to take the exercise seriously would be beneficial to the budget practitioners and planners at the state level. The federal government should be interested in the fact that budgeting must be a major concern if every region of the country is to be developed. The purpose of the research is to shed light on the budget preparation process used by the state government of Ekiti State in Nigeria. The capital projects' effects on the socioeconomic advancement of the inhabitants of Ekiti are another goal of the study. It is anticipated that the findings would help people better understand how the budget is created and what can be done to make the system more effective so that the people of Ekiti and Nigerians as a whole may enhance their quality of life. Last but not least, the research would help the government concentrate on employing capital projects to improve the country socially, economically, and culturally in accordance with their main obligation as outlined in the Nigerian constitution.
Augustine Sunday Oge, Joshua Adewale Adejuwon. Capital project decisions and socio-economic development in Ekiti state, Nigeria. Int J Finance Manage Econ 2022;5(2):69-76. DOI: 10.33545/26179210.2022.v5.i2.150