WEST AFRICAN JOURNAL OF BUSINESSNAND MANAGEMENT SCIENCES

FACULTY OF BUSINESS ADMINISTRATION

IMO STATE UNIVERSITY, OWERRI
NIGERIAN EDITION
VOL.4 NO 1 APRIL 2015

THE IMPACT OF GOVERNMENT INTEGRATED FINANCIAL MANAGEMENT

INFORMATION SYSTEM (GIFMIS) ON ECONOMIC DEVELOPMENT OF NIGERIA
OGBONNA G.N., PhD
Head of Department
Department of Accounting
Faculty of Management Sciences
University of Port Harcourt
Port Harcourt
and
OJEABURU FRIDAY
Department of Accounting
Faculty of Management Sciences
University of Port Harcourt
Port Harcourt

Abstract:
This study examines the Impact of Government Integrated Financial Management
Information System (GIFMIS) on Economic Development of Nigeria. Secondary data was collected
from the Budget Office of the Federation, Office of the Accountant- General of the Federation,
National Bureau of Statistic and United Nation Development Programme and analyzed with the use of
statistical package for social science (SPSS) and t-test to test the significant difference in independent
and dependent variables. The empirical findings revealed among other things, that GIFMIS have
impacted positively on Nigerias economic development. It was concluded from the study that
GIFMIS adopted by Federal Government of Nigeria (FGN) has impacted positively on its economic
development through the budgeting and budgetary system, payroll management system, cash
management reforms, expenditure ceiling for MDAs in Nigeria within the time under review. The
study recommends, among others, that the government should strengthen GIFMIS module and cover
other area of interest in the national budget to achieve more on human capital development,

investment in critical infrastructures, gross domestic product, and per capita income. The savings of
over N126 billion from the implementation of GIFMIS could be channeled to human capital
development like education, health etc or investment in critical infrastructure like roads, port etc or
diversify the economy. Therefore GIFMIS is a good platform and effective and efficient strategy in
the management of government finances. It reduces incidences of government borrowing, provides
holistic financial information and minimizes fraud in Nigeria..
Key Words: Government Integrated Financial Management Information System (Gifmis) on
Economic Development of Nigeria.

INTRODUCTION
Before the introduction of the Government Integrated Financial Management Information System
(GIFMIS), the Office of the Accountant- General of the Federation (OAGF) (2011) discovered that
Ministries, Departments and Agencies (MDAs) operate fragmented bank accounts totalling 12,622
scattered in various commercial banks. Even with the accounts scattered in commercial banks, Federal
Government of Nigeria was out borrowing more money which negatively impacted the total budget.
Government does not even have effective control over the cash position at various banks at any point
in time. This precarious situation posed a serious problem of cash management and economic
development in Nigeria. In view of the above, this study becomes increasingly necessary to
empirically investigate the impact of GIFMIS on economic development of Nigeria.
Governments in developing countries (DC) like Nigeria are increasingly exploring methods and
systems to modernise and improve public financial management to meet economic growth and
development. The introduction of the Integrated Financial Management Information System (IFMIS)
is one of the most common financial management reform practices, aimed at the promotion of
efficiency, effectiveness, accountability, transparency, security of data management and
comprehensive financial reporting. The scope and functionality of an IFMIS varies across countries,
but normally it represents an enormous, complex, strategic reform process (Chne 2009:p.3; Hendriks,
2012; Phalama, 2012). The effectiveness and efficiency of a countrys public sector is vital to the
success of development activities, including those the World Bank supports. Sound financial
management, an efficient civil service and administrative policy, efficient and fair collection of taxes,
and transparent operations that are relatively free of corruption all contribute to good delivery of
public services to the citizen(Independent Evaluation Group (IEG),2008: p.15).
The consequent lack of reliable and timely revenue and expenditure data for budget planning,
monitoring, expenditure control, and reporting has negatively impacted budget management. The
results have been a poorly controlled commitment of government resources, often resulting in a large
build up of arrears; excessive borrowing, pushing up interest rates and crowding out private-sector
investment; and misallocation of resources, undermining the effectiveness and efficiency of service
delivery to the citizen (Diamond & Khemani 2005:4; Chne, 2009).
Diamond & Khemani (2005) opined that in light of these adverse developments, DC went ahead to
adopting IFMIS projects to strengthen their Public Expenditure Management (PEM) systems. The
establishment of an IFMIS has become a benchmark for the countrys budget reform agenda, often
regarded as a precondition for achieving effective management of the budgetary resources. This
changes in accounting and financial management systems promised mitigating the challenges of
efficient, effective and transparency and accountability for the utilization of public resources, which in
many cases are provided by international aid agencies to combat corruption in the public sector
(United States Agency for International Development (USAID),2008; Chne, 2009 ).
According to Diamond & Khemani (2005); Hendriks, (2012); Anipa,Kaluma and Muggeridge, (1999)
study (as cited in Stephen, 2009); USAID (2008) that the adoption of IT-based accounting and

financial management systems in search for efficiency and effectiveness in the provision of public
services in Nigeria is a step in the right direction. The automated financial systems of the government
are construed as controls against corruption and rent-seeking practices that have affected the
successful implementation of the budget to achieve economic development for DC (Diamond &
Khemani, 2005; USAID, 2008; Stephen, 2009).
GIFMIS role is to connect, accumulate, process and then provide information to all parties in the
budget system on a continuous basis. It is therefore imperative that the system should be able to
provide the required information timely and accurately, because if it does not it will not be used and
cease to fulfil its central function as a system (Diamond & Khemani 2005:p.100; Hendriks, 2012:p.2).
Integration oftentimes applies only to the core financial management functions that an IFMIS
supports, but in an ideal world it would also cover other information systems with which the core
systems communicate, such as human resources, payroll, and revenue (tax and customs) as the
minimum IFMIS interface with in the systems (USAID, 2008 and Dorotinsky, 2003).
In Nigeria context, Federal Government since April 2nd, 2012 introduced GIFMIS go alive to tackle
the budget management and accounting across MDAs and to address key sources of economic
inefficiency (GIFMIS, 2014). This is to strengthen economic management and to deal with weak
governance and corruption. The budget function has been consolidated in a strengthened budget office
and greater transparency has been introduced to Public Expenditure Management (PEM) through
regular publication of allocations of federation revenues to all tiers of governments, and through
widespread dissemination of information on budget allocations and execution (GIFMIS, 2014; Jessica
and Heidi, 2012). GIFMIS is concerned with institutional building and improving economic
governance which improves the capacity to address issues of poverty, gender and social development
(Document of the World Bank, 2014; Office of The Accountant General of the Federation (OAGF),
2014). Central Bank of Nigeria (CBN) (2013) stated that the Federal Government of Nigeria (FGN)
GIFMIS initiative has proven that the integration of licensed e-payment solutions with in-house
accounting, payroll, pension, Enterprise Resources Planning (ERP) can significantly eliminate manual
payment processes and accelerate adoption of end-to-end e-payment.
In view of the above, this study intends to examine the impact of Government Integrated Financial
Management Information System (GIFMIS) on economic development of Nigeria.
STATEMENT OF THE PROBLEM
Prior to this time, government accounts were scattered all over the MDAs which made it impossible
for government to establish the numbers of accounts it has and also the balances in those accounts.
This led to pockets of idle cash balances held in MDAs accounts while government was out
borrowing money. The essence of GIFMIS is at a glance government will be able to know all the
accounts in all MDAs and their balances and necessary reconciliation in a regular basis which
facilitate proper control mechanism and proper advice given when necessary (Demola, 2012; OAGF,
2011).
In the last decade, Nigerian economy has metamorphosed from the level of millions of naira to
billions of naira and postulating to trillions of naira on the expenditure side of the budget. Adequate
infrastructures to improve social amenities to raise the welfare of average citizen of the economy are
not there, yet we always have a very high budget that is hardly implemented. This indicates that
something is definitely wrong either with the way government increases budget or with the ways and
manners it has always been computed (Nurudeen & Usman, 2010) and Taiwo & Abayomi (2011) and
implemented (italic added).
PURPOSE OF THE STUDY
The main purpose of this study is to carry out empirical investigation on the impact of GIFMIS on
economic development of Nigeria.

Other specific objectives are:

1.
To examine if there is significant difference in government budgeting and budgetary system
and human capital development before and after implementation of GIFMIS.
2.
To ascertain if there is significant difference in government budgeting and budgetary system
and investment in critical infrastructure before and after implementation of GIFMIS.
3.
To find out if there is significant difference in government payroll management system and
investment in critical infrastructure before and after implementation of GIFMIS.
4.
To determine if there is significant difference in government payroll management system and
gross domestic product infrastructure before and after implementation of GIFMIS.
5.
To investigate if there is significant difference in government cash management reforms and
gross domestic product before and after implementation of GIFMIS.
6.
To check if there is significant difference in government cash management reforms and per
capital income before and after implementation of GIFMIS.
7.
To verify if there is significant difference in government expenditure ceiling and per capita
income before and after implementation of GIFMIS.
8.
To examine if there is significant difference in government expenditure ceiling and human
capital development before and after implementation of GIFMIS.
RESEARCH QUESTION
To achieve the objectives of this study the following questions are raised:
1.
What is the difference in government budgeting and budgetary system and human capital
development before and after implementation of GIFMIS?
2.
To what extent is the difference in government budgeting and budgetary system and
investment in critical infrastructure before and after implementation of GIFMIS?
3.
To what degree is the difference in government payroll management system and investment in
critical infrastructure before and after implementation of GIFMIS?
.
What is the difference in government payroll management system and gross domestic product
before and after implementation of4GIFMIS?
5.
To what extent is the difference in government cash management reforms and gross domestic
product before and after implementation of GIFMIS?
6.
To what degree is the difference in government cash management reforms and per capita
income before and after implementation of4GIFMIS?
7.
What is the difference in government expenditure ceiling and per capita income before and
after implementation of GIFMIS?
8.
To what extent is the difference in government expenditure ceiling and human capital
development before and after implementation of GIFMIS?
RESEARCH HYPOTHESES
From the research questions, the following null hypotheses were drawn and tested in the study.
H01: There is no significant difference in government budgeting and budgetary system and human
capital development before and after implementation of GIFMIS.
H02: There is no significant difference in government budgeting and budgetary system and
investment in critical infrastructure before and after implementation of GIFMIS.
H03: There is no significant difference in government payroll management system and investment
in critical infrastructure before and after implementation of4GIFMIS.
H04: There is no significant difference in government payroll management system and gross
domestic product before and after implementation of4GIFMIS.
H05: There is no significant difference in government cash management reforms and gross domestic
product before and after implementation of4GIFMIS.
H06: There is no significant difference in government cash management reforms and per capita
income before and after implementation of4GIFMIS.
H07: There is no significant difference in government expenditure ceiling and per capita income
before and after implementation of GIFMIS.

H08: There is no significant difference in government expenditure ceiling and human capital
development before and after implementation of GIFMIS.
THEORETICAL, CONCEPTUAL AND EMPIRICAL LITERATURE
Theoretical Review
The Harrod-Domar Growth Model
This theory argues that a countrys investment level at a given period is determined at the equilibrium
level of national income by the marginal propensity to save, so that economic growth becomes a
function of the marginal propensity to save and the capital/output ratio. (Domar, 1948 and Roy
Harrod(1900-1978) studies (as cited in Eshiobo, Idomeh and Eshiotse, 2000; Onwe , Fagbemi, Okeke
and Nwamaka, 2013). In other words, increase in income and investment is a major factor that brings
about growth (Eshiobo, Idomeh and Eshiotse, 2000). According to Onwe, 1993; Onwe , Fagbemi,
Okeke and Nwamaka (2013); Eshiobo, Idomeh and Eshiotse (2000) and Oyerinde(2011) a high
propensity to save means much savings for investment leading to economic growth. The researcher
discovered that where every citizen in a country received income and increase investment, this will
lead to economic growth.
Schumpeters Theory
According to Onwe , Fagbemi, Okeke and Nwamaka (2013,p.32) this theory distinguishes between
two types of influences on an economy: first are the influences of changes in the of availability of
factors of production, which he refers to as growth component; second are the influences of
technological and social changes, which he characterised as development component. Schumpeter
refers to economic growth as changes in population and in the sum total of savings plus
accumulation corrected for the variation in the purchasing power of the monetary unit. According to
him, changes in these two variables are both continuous and slow. Other important factors influencing
economic growth and development in Schumpeters context include: technological change,
entrepreneurship, capital, and credit. The researcher through this theory discovered that for there to
economic development in a country, there has to be changes in factor of production and technologies.
Conceptual Framework
Government Integrated Financial Management Information System (GIFMIS)
According to United States Agency for International Development (USAID) (2008, p.14); Rozner
(2008, p.1); Dorotinsky (2003, p.3); Hendriks (2012, p.2); World Bank Study (2011, p.3) stated that
IFMIS is an information system that tracks financial events, summarizes financial information and
different from an accounting system configured to operate according to the needs and specifications of
the local environment. In the government realm, IFMIS refers more specifically to the
computerization of public financial management (PFM) processes, from budget preparation and
execution to accounting and reporting (United Nations, 1999; Chne, 2009; World bank Study, 2011)
with the help of an integrated system for financial management of line ministries, spending agencies
and other public sector operations (Diamond & Khemani, 2005, p.3; Stephen, 2009, p.4; USAID,
2008, p.14). Luz (2013); USAID (2008) and Hendriks (2012) stated that GIFMIS is an integrated and
comprehensive system that aims to facilitate the generation of vital information on any and all aspects
of government financial transactions that can be made accessible to the public through information
technology. Dorototinksy (2003); Hendriks (2012); Stephen (2009); Ibrahim & Dauda (2014) stated
further that: IFMS consists of several subsystems which are normally include accounting, budgeting,
cash management, debt management and related core treasury systems.
In Nigeria context, GIFMIS will support the public resources management and targeted anticorruption initiatives area through modernizing fiscal process using better methods, techniques and
information technology (GIFMIS, 2014; Office of the Accountant General of the Federation (OAGF),
2014; Document of the World Bank, 2014). GIFMIS will help to improving the acquisition,
allocation, utilization and conservation of public financial resources using automated, effective,
efficient and economic information systems (Presidential Mid-Term Report, 2013; Office of the

Accountant General of the Federation (OAGF), 2011; Africa Development Bank (ADB), 2013; Office
of the Secretary to Government of the Federation (OSGF), 2014). It will also aid strategic
management of public financial resources for enhanced accountability, transparency, cost effective
public service delivery, and economic growth and poverty reduction efforts (OAGF, 2011). It
implementation will facilitate tremendous improvement in efficiency in operations as the FG
continues in its quest for a new Nigeria positioned to achieve vision 2020 (GIFMIS, 2014; OAGF,
2014; OAGF, 2011; ADB, 2013). According to Federal Ministry of Finance (FMF) (2014) Nigerias
president, Dr. Goodluck Jonathan said, his government would intensify efforts aimed at curbing
leakages by deploying the right technologies. FMF (2014) stated that through the PFM reform, the
government has been able to save more than N126 billion. As a result of GIFMIS implementation and
with the e-payment system in place under the Treasury Single Account (TSA) arrangement and
considering the fiscal management tools employed by Federal Government of Nigeria (FGN) during
the project period, the average monthly balance in Consolidated Revenue Fund (CRF) of FGN
improved from a deficit of about 100 billion Naira in 2011 to a surplus of Naira 4.16 billion in 2012
(GIFMIS, 2014; Document of the World Bank, 2014; Mid-Term Report of the Transformation
Agenda (MTRTA), 2013). Substantial benefits, notionally computed at about the equivalent of $97
million, have been realized through savings in interest payments on the overdrafts provided by the
central bank to finance the budget. Meanwhile according to Bill & Melinda Gates Foundation, (2014)
and OSGF (2014) the implementation of the budget through GIFMIS has increased to 60%.
According to GIFMIS News (June 2013) and Document of the World Bank (2014) the introduction of
GIFMIS in Nigeria has made transactions processing easy and increased efficiency and transparency
in government financial management. MDAs no longer need to lobby/pursue their warrants/ Authority
to Incur Expenditures (AIEs) at the Budget Office and cash backing at the OAGF. All the MDAs need
to do is just long into GIFMIS and see the report of warrants and warrant lines for their warrant/AIEs,
and once their Warrants/AIEs are finalised by the Budget Office, the MDAs can begin to spend
immediately with no need for cash backing from the OAGF. Also MDAs using the GIFMIS for their
transaction can now produce their reports and transcripts immediately.
Budgeting and Budgetary System
The budget is an expression of government financial role in the growth process of an economy which
helps to facilitating and realizing the vision of the government in a given fiscal year (Saibu, 2012;
Collier, 2003; Adams, 2002; Oke, 2013; and GIFMIS, 2014). GIFMIS (2014) stated that the role of
budget in an economy cannot be overemphasized. A budget is an important instrument of national
resource mobilization, allocation and economic management (GIFMIS, 2014; Olomola, 2009, p.2;
Ben-Caleb, Adeyemi and Iyoha, 2014, p.7). If a national budget is to serve as an effective instrument
for promoting growth and development of a country, there should be proper linkage and management
of all the stages of budgeting (GIFMIS, 2014; Olomola, 2009, p.2; Ben-Caleb, Adeyemi & Iyoha,
2014). OSGF (2014) and Budget Office of Federation (BOF) (2014) posited that the government has
started the gradual realignment of the budget in favour of capital expenditure, which is needed for
sustainable growth and development. Saibu (2012) asserted that you budget to plan before
development. A budget has to be well-designed, effectively and efficiently implemented, adequately
monitored and its performance well evaluated (GIFMIS, 2014). Onukogu (2010) and Oke (2013)
opined that budget can serve for planning; communicating; motivation; standard for measurement of
performance; and evaluation and for economic and social policies (GIFMIS, 2014). Budgetary control
system in other hands is concerned with ensuring that actual financial results are in line with targets.
Budgetary control provides a yardstick for comparison and isolates problems by focusing on
variances, which provide an early warning to managers. Budgetary control is typically exercised at the
level of each responsibility centre of MDAs (Collier, 2003).
In Nigeria, the objectives of the budgetary reforms were to: reduce the excessive share to personnel
and overhead costs (estimated at over 60%); reduce the cost of governance; improve resource
management by reducing wasteful expenditure; and ensure budget discipline (adherence to limits) etc

(Olumide, 2003; GIFMIS 2014; Okogu, 2014; Olomola, 2009; Ben-Caleb, Adeyemi & Iyoha, 2014).
GIFMIS (2014); Olomola (2009, p.3) and Ben-Caleb, Adeyemi & Iyoha (2014) stated that the
budgetary reforms commenced in 2000 have five major planks: administrative procedures; budget
preparation; management of government spending; budget implementation as well as monitoring and
evaluation. The management of government spending is achieved through limits imposed by
established fiscal rule (GIFMIS, 2014; Olomola, 2009; Ben-Caleb, Adeyemi & Iyoha, 2014).
According to the researcher, budget is made up of capital expenditure and recurrent expenditure. The
capital expenditure is used to tackle expenditure in capital in nature like critical infrastructure and the
recurrent expenditure is for personnel cost and overheads cost. A good management of the budget
would impact on the economic development of Nigeria.
Payroll Management System
The FGN has since 2007 commence the implementation of computerised payroll management system
called Integrated Payroll and Personnel Information System (IPPIS). According to Onukogu (2010)
IPPIS is a wholly Nigeria solution, that was deployed by Messers. System Specs Consortium in
Novermber, 2006, and after capturing the employees data biodata and biometric across the 36 states
and Abuja. With this solution, employees had been collecting salaries through their bank accounts as
at 23rd of every month begins with 7 pilot MDAs such as Federal Ministry of Finance; Federal
Ministry of Information; Federal Ministry of Works; Federal Ministry of Education; Ministry of
Foreign Affairs; National Planning Commission; Budget Office of the Federation. Prior to the launch
of the IPPIS, the discrepancy between the personnel and pay rolls in the 7 pilot MDAs was estimated
at about 20%. The deployment of IPPIS, using biometric data to reconstruct the personnel and pay
roll records resulted in the use of the payroll module and payroll processing time,
reduction/elimination of ghost workers (i.e identification of 25,000 ghost workers), improved
personnel cost budgeting, automated third party transfers, and consequent average savings of about
116m for the 7 pilot MDAs (Document of the World Bank, 2014; OAGF, 2011; OSGF, 2014). Since
IPPIS go alive, it has eliminate 46,000 ghost workers and saved N119 billion as a result of partial
implementation (OAGF, 2014 OSGF, 2014). The total of 153,019 staff from 215 MDAs as at
January 2013 has been captured under IPPIS while the remaining 321 MDAs will be captured in short
while. Meanwhile as on October 31, 2013, the numbers has increased to 225 MDAs on the system
with coverage of 78% of federal finances but has increase to 308 MDAs as at 30th March,
2014).(GIFMIS, 2014; OAGF, 2014; MTRTA, 2013; Presidential Mid-Term Report, 2013; ADB,
2013; OSGF, 2014).
OAGF (2014) asserted the agencies in control IPPIS in Nigeria are: Office of the Accountant General
of the Federation (OAGF) manage the software and hardware; Office of the Head of Civil Service of
the Federation (OHCSF) manage the human resources; Budget Office of the Federation prepare
warrant; Federal Civil Service Commission (FCSC) take care of biometric data capture; Office of the
Auditor General for the Federation oversee the audit and control oversight; Nigeria Inter-Bank
Settlement System (NIBSS) who is liaises between the central bank and the commercial banks where
staff salaries are domiciled. All unremitted funds are returned to this office, who in turn notifies the
Directorate in OAGF, who thereafter inform MDAs concerned. Onukogu (2010) stated some few
advantages of IPPIS as: reduces stress and paperwork in the performance of payroll and personnel
duties; to eliminate ghost work; to check fraud, as all transaction are traceable via passwords of
schedule officers; to generate and retrieve accurate data at the touch of a button, which will in turn
reduce bulky files, as all details can be retrieved on a page; to emulate best practice in human
resources management, as obtained in advance countries. The challenges of IPPIS are: fire brigade
approach adopted since inception (Onukogu 2010). The researcher discovered that IPPIS is one of
such FG economic reforms that have save the nation over billions of naira which has so far put into
area of needs.
Cash Management Reforms

According to Uwadiae (2009) cash management is to identify the cash balance which allows for the
business to meet day to day expenses, but reduces cash holding costs. The cash management reform of
the FGN was introduced through the Treasury Single Account (TSA) which was formally
consolidated revenue fund (OAGF, 2011). OAGF (2014); Demola (2012, p.7); OAGF (2011);
OSGF(2014, p.12); Sailendra & Israel (2010) and Ibrahim & Dauda (2014, p.5) opined that TSA is a
unified structure of government bank accounts which provide birds eye view on total cash position at
any given time. It is also a single account or a set of linked accounts for all government transactions. It
gives a consolidated view of government cash resources and based on the principles of unity of cash
and unity of treasury. This is because Government banking arrangements are an important factor for
efficient management and control of governments cash resources. Such banking arrangements should
be designed to minimize the cost of government borrowing and maximize the opportunity cost of cash
resources (Sailendra & Israel, 2010; OAGF, 2011; Ibrahim & Dauda, 2014). Demola (2012, p.7) also
pointed out that TSA is in line with the National Payment System (NPS) Vision 2020 objectives. It is
seen as the most effective mechanism for dealing with corruption in cash management in MDAs
(Document of the World Bank, 2014; OSGF, 2014). According to GIFMIS (2014) a new developed
cash management policy was developed which provides strategies that will ensure that scare cash
resources are well controlled and managed such that the right amount of cash is available at any point
in time to meet obligation as and when due, minimise cash holding and associated costs and invest
funds not immediately required.
According to GIFMIS (2014); OAGF (2011); Demola (2012); Arcadio (2013) and Sailendra & Israel
(2010), the policy came into being as a result of deficiency in the present cash management system
characterized by: multiple bank accounts with idle funds, poor cash planning resulting in low drawdown of funds which invariably affect budget implementation, funds releases are not tied to the needs
and priority of MDAs, uncoordinated or unnecessary borrowing, etc. GIFMIS (2014) and OAGF
(2011) stated that the Treasury is expected to manage the cash planning of government with inputs
from MDAs. Consequently, some of the following have been considered and approved: the Treasury
shall take responsibility for the effective and efficient management of all public funds through TSA;
government cash balances at any point in time shall be obtained through the TSA for effective
planning and decision making; Ministerial Cash Management Committee chaired by the Minister of
Finance to approve cash allocations to MDAs based on cash plan and cash flow projection upon
which warrant releases are to be issued; budget performance reports is very important in subsequent
cash allocations and warrant releases to MDAs; each MDA shall have its own Cash Management
Committee headed by the Minister of that Ministry to consider and approve the utilization of allocated
cash etc.
Demola (2013) and OAGF (2011) mentioned specifically why TSA is needed in Nigeria: government
usually has a fragmented banking arrangement; government does not always know the balance of
funds held in the commercial banks; government still goes to borrow money when it has money in
commercial banks and other accounts in CBN; the TSA will ensure that government has access to
funds when needed and would only borrow when is necessary. The researcher believe that with the
introduction of the above measure to ensure FG have control over the cash position at all time, there is
no doubt that economic development of Nigeria will be attainable.
Expenditure Ceiling
Expenditure ceiling is also called expenditure envelopes. As part of the reform, MDAs of government
were given expenditure envelopes or an expenditure ceiling from which they were to meet all their
needs and deliver public goods and services (BOF, 2010; BOF 2014; Olomola, 2009). The allocation
of such envelopes was done by the Budget Office of the Federation, working with the Minister of
Finance and with the approval of the President following consultations with relevant stakeholders. In
allocating the envelopes, the major criteria were the size of each MDAs payroll and priority level
accorded to the services to be delivered by each MDA against the background of the priorities of the
FG as documented in Medium-Term Sector Strategies and the high level policy documents 7-Point

Agenda, National Economic Empowerment and Development Strategy (NEEDS), the Millennium
Development Goals (MDGs), Vision 20:2020 and stakeholders inputs(GIFMIS, 2014; Olomola,
2009; Budget Office of the Federation, 2014, p.19; BOF, 2010). The expenditure ceiling for capital is
the balance of MDAs allocations after key elements of recurrent expenditure have been
accommodated (BOF, 2010; BOF, 2014).
In allocating resources among the competing needs, MDAs are to be guided by their MTSS which is a
component of Medium-Term Expenditure Framework (MTEF). Medium-Term Sector Strategies
(MTSS) Started from 2005, where MDAs were requested to develop and articulate their MTSS
consistent with high policy document listed above. The process involved (i) clear articulation of goals
and objectives by MDAs against the background of the overall goals of NEEDS and the attainment of
the MDGs, (ii) identification and articulation of key projects and programmes necessary for the
achievement of their goals and objectives bearing in mind their expenditure envelope, (iii) costing of
the identified key initiatives in a clear and transparent manner, (iv) phasing of the implementation of
the initiatives over the medium-term (three years), (v) defining the expected outcomes in clear
measurable terms and (vi) proper linkage of expected outcomes to their objectives and goals. The
MTSS became a major policy document against which budget proposals of MDAs were evaluated
(Olomola, 2009; BOF, 2014). It was observed by the researcher that expenditure ceiling is meant to
ensure budget execution and to also to ensure that the budget is such that geared towards meeting the
high policy document of government.
The Concept of Economic Development of Nigeria
Nigeria is a middle income, mixed economy and emerging market, with expanding financial,
technology and entertainment sectors etc. It is ranked 26th in the world in terms of Gross Domestic
Product (GDP) (nominal: 30th in 2013 before rebasing), and is the largest economy in Africa (based
on rebased figures announced in April 2014) by adding 89% to its GDP. It is also on track to become
one of the 20 largest economies in the world by 2020 (http://www.economist.com).
According to the Business Dictionary (http://www.business dictionary.com/; Chaminda ,2013 and
Eshiobo, Idomeh & Eshiotse, 2000) economic development usually refers to the adoption of new
technologies ,transition from agriculture-based to industry-based economy, and general improvement
in living standards. Alina-Petroneia (2012) opined that economic development is quantitative and
qualitative changes in the economy that sustained the concerted actions of policy makers and
communities that promote the standard of living and economic health of a specific area.
Nigeria is a developing country like most others in Africa, Asia and Latin America. Many factors
affect its developmental process some of which are not peculiar to her alone. These problems among
others include. lack of fund; short-sighted plans in Nigeria; poor technology background (Onwe,
Fagbemi, Okeke & Nwamaka, 2013); political instability; high population growth in Nigeria is telling
much on the available resources(World Bank, 2013; Onwe, Fagbemi, Okeke & Nwamaka, 2013 );
high literacy level makes it difficult for people to understand changes, the reasons for change and the
need for effect changes(Onwe, Fagbemi, Okeke & Nwamaka, 2013; World Bank, 2013); poor
leadership Onwe, Fagbemi, Okeke & Nwamaka, 2013 ); and worsening foreign trade for Nigeria
hinders her developmental efforts (Eshobo, Idomeh & Eshiotse, 2000). Onwuemele (2013);
Eigbiremolen & Anaduaka (2014) added lack of knowledge of the country's natural resources, and
Nigeria is equally short of men who can manage organized industrial activity. Oyerinde (2011);
Onwuemele (2013); World Bank (2013) opined that rising level of unemployment, poverty and low
standard of living can also a problem of economic development in Nigeria. Therefore, the researcher
sees economic development as relevant to measure progress and quality of life in developing nations
like Nigeria.
Human Capital Development

According to Enyekit, Amaehule & Teerah (2011, p.1), human capital development is something that
must exist or happen for national development. In addition, human capital development teaches
people how to utilize the power of diverse thinking styles (analytical and intuitive) so that they
achieve holistic best practical solution. While there are debates on which types of skills and education
are most important, no country has developed without such human capital investments (World
Economic Forum, 2009; Alina-Petroneia , 2012). Enyekit, Amaehule & Teerah (2011); Alduaism
(2013); Eigbiremolen & Anaduaka (2014) stated that human capital is an important factor for the
wealth of a nation due to its influence on the overall production of the country. Lorenzo (2011, p.3);
Isola & Alani ( nd) posits that human capital development is people-centred development, where the
focus is put on the improvement of the various dimensions affecting the well-being of individuals and
their relationships with the society (health, education, entitlements, etc.) Human capital refers to the
abilities and skills of human resources (Adelakun, 2011; Okojie, 2005 study (as cited in Eigbiremolen
& Anaduaka,2014) while human capital development refers to the process of acquiring and
increasing the number of persons who have the skills, education and experience which are critical for
the economic growth of the country (Alduais, 2013; Okojie, 2005 study (as cited in Eigbiremolen &
Anaduaka,2014;Harbison, 1962 Study (as cited in Adelakun, 2011). Therefore, the place of human
capital development in economic growth cannot be overemphasized. Human capital development is a
key prerequisite for a countrys socio-economic and political transformation (Adedeji and Bamidele,
2003; World Bank, 1995, Barro, 1991) studies (as cited in Eigbiremolen & Anaduaka, 2014); Nigeria
Vision 20: 2020, 2010).
UNDP (2013); Alina-Petroneia (2012); Lorenzo (2011) stated that Human Development Index (HDI)
measures achievements on average on the basis of three following criteria such as health (life
expectancy at birth which measures the longevity of life); knowledge which is based on the following
two factors (adult literacy rate and gross enrolment ratio at primary, secondary and tertiary level or
access to education); and per capita GDP and Purchasing Power Parity (PPP) measure the standard of
living of the people. To ensure as much cross-country comparability as possible, the HDI is based
primarily on international data from the United Nations Population Division, the United Nations
Educational, Scientific and Cultural Organization (UNESCO) Institute for Statistics (UIS) and the
World Bank. The researcher stated that for a nation to attain it full industrialisation, the human capital
development is a prerequisite for a countrys socio-economic and political transformation. No nation
can develop without its human capital development.
Investment in Critical Infrastructure
According to World Investment Report (WIR) (2008) infrastructure can be described as the
fundamental basis of all the aspects and activities of an organized society in both social and economic
dimension. Infrastructure has been identified as the key constraint to private sector development
(Adenikinju, 2005; Okeola & Salami, 2012). Economic Infrastructure support production and business
activities and without adequate provision and functioning of these facilities, economic growth of any
given place regardless of natural opportunities will be unachievable (World Development Report
(1994) study (as cited in Okeola & Salami, 2012); Nigeria Vision 20: 2020 ,2010; WIR, 2008;). The
competitiveness of an economy is heavily dependent on economic infrastructure (Adesoji, 2009; WIR,
2008; Okeola & Salami, 2012). For the economy to function effectively, networked industries like
telecom, transportation and energy must be developed (World Economic Forum, 2009). According to
Nigerias Finance Minister/ Cordinationing of Nigeria Economy, Ngozi Okonjo-Iweala said
infrastructure is a fundamental necessity for any economic sector or development strategy to
thrive (Adesoji, 2009) and is key to economic development and integration into the world economy
(WIR, 2008). And also economic growth in Nigeria is retarded by poor delivery of infrastructures
while the biggest challenge to the investment climate is still the nations infrastructure (Adesoji,
2009). The systematic decay in all the infrastructure sectors in Nigeria is contributory to the
instability and poor growth in the economic system. Critical Infrastructures(CI) like; power, road etc
(Okeola & Salami, 2012; ADB, 2013; Okogu, 2014) have posed great challenges to investors
seeking to explore the tremendous business opportunities in Nigeria. Critical infrastructure

according to the researcher is a very necessity for any economic sector or development strategy to
thrive and is key to economic development and integration of all the sector.
Gross Domestic Product (GDP)
In his contribution, Eshobo,Idomeh & Eshiotse (2000, p.115) defined Gross Domestic Product (GDP)
as the total volume of production, irrespective of the nationality of the people who produced it, in an
economy in a year. In summary it is the total production of goods and services by both nationals and
foreigner living in a country. According to National Bureau of Statistic (NBS) (2012) Nigeria aims to
become one of the 20 largest economies (as measured by GDP) by the year 2020. According to Office
of the Secretary to the Government of the Federation (OSGF) (2014:91) countries rebase their GDP
for every five years in line with global best practices. In the case of Nigeria, such a process has not
been undertaken since 1990. The GDP rebasing is expected to have significant benefits for Nigeria is
worth about Us$510 Billion and largest in Africa between 2004 and 2013 in which real GDP grew by
an average of 7% per annum (Okogu,2014:p.4; OSGF, 2014). In 2013 NBS commenced the process
of rebasing of Nigerias national accounts from which the GDP is computed. This process involves
replacing the present price structure (base year) with a new or more recent price structure to reflect
structural changes in the economy. As at 2012, 1990 was being used as the base year. This exercise
will see the present base year move from 1990 to 2010, taking into account new sectors of the
economy that have sprung up over the last twenty-three years. This is very important statistical
exercises, which has given a more realistic and true estimate of the value and size of economic
activities in Nigeria as at today (OSGF, 2014). The Nigerian Economy performed well between 2006
and 2010 despite the negative effects of the global economic crisis which started in 2007 and
continued throughout the period under review. The GDP, at 1990 constant prices, grew consistently
between 2006 and 2010, except for 2008 when a slight decrease occurred. (NBS, 2010:p.9). Although
Nigerias global GDP ranking improved from 44th position in 2010 to 36 in 2012, current GDP and
per capita GDP are rather too low for a country richly endowed like Nigeria (Olumide, 2003:p.7).
According to researcher, GDP is the sum of all the production by the citizen of a nation and foreigners
living within the nation.
Per Capita Income (PCI)
Per capita income is the total national income or GDP divided by total population. It is not the
average income (because it includes children and non-working population) but serves as an indicator
of a country's living standards (www.businessdictionary.com; Eshobo,Idomeh & Eshiotse, 2000).
According to Eshobo,Idomeh & Eshiotse (2000), per capital income is often used in comparing the
standard of living of people from various countries. The higher the per capita income, ceteris paribus,
the higher the standard of living. GDP per capita data are in current U.S. dollars (World Bank, 2014).
The researcher opines that per capita income is also called GDP per capita which measures the amount
of money that person earned in a certain area like city, region or country. It can be calculated for a
country by dividing the country's national income by its population.
Empirical Review
The foregoing empirical section has considered extant literature on the impact of GIFMIS in both
private and public sectors (Stephen, 2009).
Author(s)
Ibrahim
& Dauda
(2014)

Mutiu &
Olusijibo
mi (2013)

Title
The globalisation and the
emergence of Government
Integrated Financial
Management Information
System (GIFMIS): The
Nigerias Experience
The public expenditure and
economic growth nexus: further
evidence from Nigeria

Method and Sample

Both primary and
secondary data was
adopted. Questionnaires
of 200 respondents were
analysed with chisquare.
Secondary data and
regression analysis were
used

Main Results
The study reveals that GIFMIS ensures
accountability and financial prudence in all
financial operations.

The study indicates that since economic

growth and development are the main
objectives of government expenditure, there
should be efforts to maintain adequate

Hendriks
(2012)

Taiwo &
Abayomi
(2011)
Stephen
(2009)

Integrated Financial
Management Information
Systems: Guidelines for
effective implementation by the
public sector of South Africa
government expenditure and
economic development:
empirical evidence from Nigeria

The use of literature

study were explored and
used to solve a research
problem

Where new technology meets

socio-economic impasses: A
study of the Integrated Financial
Management System as a
Management Control in Local
Governments in Uganda

use documentary
analysis, semi-structured
interviews and nonparticipant observations

Secondary data was

collected and analysed
with regression analysis

levels of investment in social and economic

infrastructure.
The results indicated that there are a
number of challenges involved with the
implementation of an IFMIS. A set of best
practice guidelines was developed that may
make the implementation more successful
The result showed that the higher the
government spending, the higher the level
of economic growth (ceteris paribus) and
vice versa.
The result reveals that rather than imposing
information technologies on organisations,
it would be more appropriate for the
intended users to participate in their design
and development.

Adapted from various Authors

RESEARCH DESIGN
The research design that was adopted in this study is descriptive design of the quasi experimental
design which is an essential aid in examining the extent to which Government Integrated Financial
Management Information System (GIFMIS) predicts the variables in economic development of
Nigeria. This is because the elements of design and data are not under the control of the researcher
(Baridam, 2008; The Institute of Chartered Accountants of Nigeria (ICAN), 2014).
POPULATION, SAMPLE SIZE AND SAMPLING DESIGN
The population of the study constitutes all 209 MDAs in Nigeria that has been captured into
Government Integrated Financial Management Information System (GIFMIS) programme from April
2007 to June 2013 (Document of the World Bank, 2014). However, the researcher decides to limit the
study to an accessible population of 42 MDAs sampled. Judgmental sampling in non-probability
sampling method was adopted because the researcher feels that those units or elements will contribute
to answering the particular research question at hand and also a representative of the target population
(Uzoma, 2012; Baridam , 2008; Adesemowo, Ogunkola & Ojo , 2001). Judgmental sampling is
helpful to make public policies and decision Uzoma (2012).
DATA COLLECTION METHOD
The data collection processes are secondary sources (Kornkaew, 2012; Uzoma, 2012; Baridam ,2008;
Oputa, 2012). The secondary data was derived from the Government Integrated Financial
Management Information System Office, Budget Office of the Federation, Office of the AccountantGeneral of the Federation, National Bureau of Statistic, journals, textbooks, local and foreign journals,
dissertations/thesis, and the internet etc (Myers, 1997; Kornkaew, 2012).
DATA ANALYSIS TECHNIQUES
The analysis of data is the process where one gather and examine data and present the data in such
way so it has a good structure and becomes easy to understand (Repstad, 1999) study(as cited in
Kornkaew, 2012, p.29). The analysis was done with the Student t-test which is parametric tests that
test the significance between means of the independent variables (Budgeting and budgetary system,
payroll management system, cash management reform and expenditure ceiling) and dependent
variables (human capital development, investment in critical infrastructure, gross domestic product
and per capita income) (Uzoma, 2012; Baridam 2008).The entire analysis was executed with the
statistical package for social science (SPSS).
RESULTS AND DISCUSSION OF FINDINGS

The eight hypotheses stated were analyzed with t-test. The t-test was used to test the difference
between means i.e. the independent and dependent variables (Oputa, 2012, p.135; Baridam (2008).The
hypothesis was tested using parametric test of t-test because of the variables involved (Oputa, 2012;
Baridam, 2008; Uzoma ,2012).
Ho1: There is no significant difference in government budgeting and budgetary system and human
capital development before and after implementation of GIFMIS.
Table 1: Test of difference between government budgetary and budgeting system and human capital
development.
Models
No
X
SD
DF
T-cal
2-tailed
Sig level
GB & BS
8
1147.7
862.3
14
3.76
0.002
0.05
HCD
8
0.4881
0.015
Source: SPSS Window Output, 2015
Interpretation
Table 1 indicates that at 14 degree of freedom and 0.05 level of significance, the calculated t-value
yielded a t-value of 3.76 which was significant at 0.002. Since this 2-tailed significant value is lower
than 0.05, we therefore reject the null hypothesis and accept the alternate hypothesis and concluded
that there is significance difference in government budgetary and budgeting system and human capital
development before and after implementation of GIFMIS.
Ho2: There is no significant difference in government budgeting and budgetary system and investment
in critical infrastructure before and after implementation of GIFMIS.
Table 2: Test of difference in government budgeting and budgetary system and investment in critical
infrastructure.
Models
No
X
SD
DF
T-cal
2-tailed
Sig level
GB & BS
8
1147.7
862.3
14
(2.82)
0.020
0.05
ICI
8
2942
564
Source: SPSS Window Output, 2015
Interpretation
Table 2 indicates that at 14 degree of freedom and 0.05 level of significance, the calculated t-value
yielded a t-value of -2.82 which was significant at 0.020 level of significance. Since this 2-tailed
significant value is lower than 0.05, we therefore reject the null hypothesis and accept the alternate
hypothesis and concluded that there is significance difference in government budgetary and budgeting
system and investment in critical infrastructure before and after implementation of GIFMIS.

Ho3: There is no significant difference in government payroll management system and

investment
in
critical
infrastructure
before
and
after
implementation
of GIFMIS.
Table 3: Test of difference between government payroll management system and investment in
critical infrastructure.
Models
No
X
SD
DF
T-cal
2-tailed
Sig level
GPM
8
125
553
14
(2.82)
0.010
0.05
ICI
8
294
564
Source: SPSS Window Output, 2015
Interpretation

Table 3 indicates that at 14 degree of freedom and 0.05 level of significance, the calculated t-value
yielded a t-value of -2.82 which was significant at 0.05 level of significance. Since this 2-tailed
significant value is lower than 0.05, we therefore reject the null hypothesis and accept the alternate
hypothesis and concluded that there is a significant difference in government payroll management
system and investment in critical infrastructure before and after implementation of GIFMIS.

Ho4: There is no significant difference in government payroll management system and

gross domestic product before and after implementation of GIFMIS.
Table 4: Test of difference between government payroll management system and gross domestic
product.
Models
No
X
SD
DF
T-cal 2-tailed
Sig level
GPMS
8
125
552
GDP
8
6.9
0.804
Source: SPSS Window Output, 2015

14

2.72

0.018

0.05

Interpretation
Table 4 indicates that at 14 degree of freedom and 0.05 level of significance, the calculated t-value
yield a t-value of 2.72 which was significant at 0.018. Since this 2-tailed significant value is lower
than 0.05, we therefore reject the null hypothesis and accept the alternate hypothesis and concluded
that there is significant difference in government payroll management system and gross domestic
product before and after implementation of GIFMIS.
Ho5: There is no significant difference in government cash management reforms and gross
domestic product before and after implementation of GIFMIS.
Table 5: Test of difference between government cash management reforms and gross domestic
product.
Models
No
X
SD
DF
T-cal 2-tailed
Sig level
GCM
8
312.1
657.3
14
3.31
0.010
0.05
GDP
8
6.9
0.804
Source: SPSS Window Output, 2015
Interpretation
Table 5 indicates that at 14 degree of freedom and 0.05 level of significance, the calculated t-value
yielded a t-value of 3.31 which was significant at 0.010. Since this 2-tailed significant value is lower
than 0.05, we therefore reject the null hypothesis and accept the alternate hypothesis and concluded
that there is significant difference in government cash management reforms and gross domestic
product before and after implementation of GIFMIS.

Ho6: There is no significant difference in government cash management reforms and per
capita income before and after implementation of GIFMIS.
Table 6: Test of difference between government cash management reforms and per capita income.
Models
No
X
SD
DF
T-cal
2-tailed
Sig level
GCMR
8
312.1
657.3
14
(3.40)
0.003
0.05
PCI
8
5285.0
10011.9
Source: SPSS Window Output, 2015
Interpretation

Table 6 indicates that at 14 degree of freedom and 0.05 level of significance, the calculated t-value
yield a t-value of -3.40 which was significant at 0.003. Since this 2-tailed significant value is lower
than 0.05, we therefore reject the null hypothesis and accept the alternate hypothesis and concluded
that there is significant difference in government cash management reforms and per capita income
before and after implementation of GIFMIS is not significant..
Ho7: There is no significant difference in government expenditure ceiling and per capita income
before and after implementation of GIFMIS.
Table 7: Test of difference between government expenditure ceiling and per capita income.
Models
No
X
SD
DF
T-cal
2-tailed
Sig level
GEC
8
9.07
6.3
14
(6.63)
0.000
0.05
PCI
8
1910
811.2
Source: SPSS Window Output, 2015
Interpretation
Table 7 indicates that at 14 degree of freedom and 0.05 level of significance, the calculated t-value
yield a t-value of -6.63 which was significant at 0.000. Since this 2-tailed significant value is lower
than 0.05, we therefore reject the null hypothesis and accept the alternate hypothesis and concluded
that there is a significant difference in government expenditure ceiling and per capita income before
and after implementation of GIFMIS.
Ho8: There is no significant difference in government expenditure ceiling and human
capital development before and after implementation of GIFMIS.
Table 8: Test of difference between government expenditure ceiling and Human capital development.
Models
No
X
SD
DF
T-cal 2-tailed
Sig level
GEC
8
9.07
6.3
14
3.86
0.002
0.05
PHCD
8
0.487
0.014
Source: SPSS Window Output, 2015
Interpretation
Table 8 indicates that at 14 degree of freedom and 0.05 level of significance, the calculated t-value
yield a t-value of 3.86 which was significant at 0.002. Since this 2-tailed significant value is lower
than 0.05, we therefore reject the null hypothesis and accept the alternate hypothesis and concluded
that there is a significant difference in government expenditure ceiling and human capital
development before and after implementation of GIFMIS.
CONCLUSION AND RECOMMENDATIONS
From the foregoing findings, the study concluded that GIFMIS adopted by Federal Government of
Nigeria (FGN) has impacted positively on it economic development through the budgeting and
budgetary system, payroll management system, cash management reforms, expenditure ceiling for
MDAs in Nigeria. The Ho1, Ho2, Ho3, Ho4, Ho5 , Ho6, Ho7, Ho8 were all statistically measured and
rejected meaning there is significant difference that exist between the means of the independent and
dependent variables. It is therefore imperative that government implement all the modules of GIFMIS
which would foster economic development of Nigeria.
In view of the finding, we prefer the following recommendations as follows:
1.
In order to achieve more in her human capital development and to invest more in critical
infrastructures, FGN should strengthen GIFMIS module and cover other area of interest in the
budgetary and budgeting system of Nigeria.

2.
To effectively implement and monitor investment in critical infrastructure and gross domestic
product the introduction and the implementation of the IPPIS which is a component of GIFMIS need
to be implemented in all MDAs.
3.
In order to address the gross domestic product and per capita income, there is need to carry out
a strict monthly financial accountability in all government institutions of the Nigeria through treasury
single account of government.
4.
If the Nigerian economy is to be turned around, expenditure ceiling of national budget must
focus on programs and projects, and prioritize those issues of human capital development like
poverty, unemployment etc per capital income and critical infrastructures like power etc.
CONTRIBUTION TO KNOWLEDGE
1.
This study has revealed the achievement of GIFMIS implementation in Nigeria since inception
April, 2012 to date where over N126 bn have be saved and also
helps to improve on average monthly cash balances in the consolidated Revenue Fund (CRF) from
deficit of about 100 bn in 2011 to surplus of 19 bn in 2013.
2.
The information brought out by this study in terms of cash management reforms and
expenditure ceiling will help the Federal Ministry of Finance in ensuring that budget is prepared
according to laid down framework.
3.
This study revealed from the Harrod-Domar Growth model that where every citizen in a
country receive income and increase investment could lead to economic growth.
4.
This study also shown in Schumpeters Theory that for there to be economic development,
there must be changes in factors of production and technologies like the introduction of GIFMIS in
Nigeria.
5.
The introduction of GIFMIS as shown in the study revealed that it has helped to strengthen
efficiency, effectiveness, accountability, transparency, openness and participation in the management
of finance.
SUGGESTION FOR FURTHER STUDIES
The extent of each research can never be exhaustive and this fact plays out here on account that our
findings may not automatically cover and appeal to all facets of MDAs. Therefore, further studies
could be carried out in other MDAs not covered in this study in order to build strong external validity
and contribute more to knowledge.
Nigeria, AERC Research Paper 148, African
Economic Research Consortium, Nairobi.
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