CHAPTER ONE
1.0 INTRODUCTION
For the past ages, man as a rational and divine animal has been struggling with the procurement of reasonable standard of living and the ways of managing his expected maximum utility (profit). The eventful development of a well organized society gave birth to the order of the day, government had the right to interfere with the economic process to protect the interest of the nation. During the 18th century Adam smith and other great authors came out with the system of laessez fair. The system suited its own period but the general depression of the 20th century scoffed that it was not after all an economic panacea. People have to look for other economic solutions. At this point, the economic scientists have to enter into the fields and make researches. Thus, it was during this time that Keynes one of the great researchers, came out with his own postulation. To be precise during the 1930’s Keynesian economic developed and emphasized the cyclical movement of the economy and the need to temper such movement by artifices manipulating the troughs and depression in the cycle in order to facilitate a better economic order.
In fact it was the policy implication of Keynesian economic that have contributed to the trends which lead to economic planning and budgeting as a tool in political administration. In Nigeria so many budgets have been pronounced and many of them are policies. All these budgets and policies are made to Nigerians standard of living which is presently nothing to talk about. We all fully experience the poor living standard of the citizens from the date of the nations. Independence till present as government promisingly budgets to right all the economic errors. For this care budget in Nigeria as whole have traditionally promised to tackle. The primary socio-economic crisis facing the nation as thing that are auxiliaries to the good standard of living and social development. But the greatest problems facing Nigeria is that the policy direction and implementation of these budgetary plans have always fallen short of a set standard