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BUDGETARY ALLOCATION AND DEVELOPMENT IN NIGERIA TERTIARY INSTITUTIONS.
ABSTRACT
A budget is plan quantified in monetary terms, prepared and approved prior to a defined period of time usually showing planned income to be generated and or expenditure to be incurred during that period and the capital to be employed to attain a given objectives and this budget is indispensible to any tertiary institution in achieving their goals. This paper empirically examined the effect of Federal government budgetary allocation on the development of tertiary institutions in Nigeria spanning from 2000 to 2014. To achieve the objective of this paper, secondary data are made use. The data are on Federal Government Recurrent Expenditure from 20002014. Budget figures were not used because in most cases the actual releases were below amount budgeted and Descriptive statistics is used to analyse data sourced. However, this paper ascertained that inadequate funding deters growth in the tertiary institutions. The study recommends that In the face of the declining financial resource allocation to the education sector, there is the need for alternative channels of funding which will ensure qualitative education and standard growth in Nigerian tertiary institutions.
Key words: Budgetary Allocation, Funding, Tertiary Institution, Government recurrent Expenditure