An Appraisal of Effective Financial Management of Local Government Funds: A Case of Ido-Osi Local Government Area, Nigeria

Abstract

This research work deal extensively on the appraisal of effective financial management of Local Government funds in Ido- Osi Local Government area. The population focus on local Government system in order to examine the level of financial management. Thus, the population sample is selected within Ido- Osi Local government area in Nigeria. Out of the sixteen local governments, sampling is selected randomly. Data were collected from both primary and secondary sources such as textbooks, Journal, government gazette while primary sources include questionnaire and personal interview. The responses to the questionnaire were analyzed by the application of Regression Coefficient in providing necessary conclusion and recommendation. Hence, this study revealed that there is an urgent need for local Government System in Nigeria to improve their financial control mechanism and to rationalize its expenditure patterns, in order to achieve optimum performance.

Keywords: Appraisal, Conceptualization, Effectiveness, Financial Management and Local Government Authority