An assessment of effectiveness of public sector financial management in Nigeria: A country policy and institutional approach

  • Peter Ngozi AMAH University of Lagos
  • Peter Okwy OKPALA University of Lagos
Keywords: Human Development Index, Gross Domestic Product per capita, Country Policy & Institution Assessment, Public Financial Management Quality


In the sphere of Public Sector Financial Management, research attention is gradually shifting from growth in sizes of input and output (efficiency) to quality of input and social welfare outcomes (effectiveness) in line with elements of sustainable development goals (SDGs 2030).  In this paper, the authors investigate public sector financial management effectiveness in Nigeria in terms of how the more relevant goals of human development, and economic output per capita have been influenced. Relying mostly on country policy and institutional assessment variables, developed by the World Bank for some eligible developing nations, the authors adopted ex post facto design to collect relevant data for the period 2009 to 2018. The generalized method of moment was used to analyze the data and make necessary inferences. A key result of the analysis is that while marginal growth in economic output per capita appears to have been achieved using government expenditure, human development has not been positively impacted. Also, most policy and institution quality variables proved to have potential to improve both growth and development outcomes, but their declining performance rating appeared to rob the country of desired positive development outcomes.


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How to Cite
AMAH, P. N., & OKPALA, P. O. (2022). An assessment of effectiveness of public sector financial management in Nigeria: A country policy and institutional approach. Global Journal of Accounting, 7(2), 99-111. Retrieved from