Abstract:
Available data reveal that between 1960 and 1999, close to $400billion was diverted from Nigeria’s public funds; and between 2005 and 2014, about $182billion was also diverted as illicit financial flows. These grave losses from public funds would have reduced if the public financial management system in the Federal Ministry of Finance, Nigeria, had an e-governance-based framework that makes information more accessible to Nigerians. This study, therefore, sought to determine: (i) whether the application of e-governance principles in public financial management has increased revenue generation in the Federal Ministry of Finance, Abuja, between 2007 and 2017, and (ii) whether the application of e-governance principles in public financial management has enhanced accountability in public expenditure in the Federal Ministry of Finance, Abuja, between 2007 and 2017. Trend research design was adopted for this study, and the study area was the Federal Ministry of Finance, Abuja. The target population was all the 493 staffers of the Federal Ministry of Finance, Abuja, while a sample size of 240 was got using simple random sampling technique. The study adopted survey and documentary methods of data collection. A structured questionnaire, and an in-depth interview guide, were used for data collection. Secondary sources of data collection were also utilized. Data collected through the quantitative method were analysed using mean, standard deviation, and ANOVA. The study found out that to a high extent (Mean = 2.75), the application of e-governance principles in public financial management increased revenue generation in the Federal Ministry of Finance, Abuja, between 2007 and 2017, hence, revenue from tax collected between 2007 and 2015 showed 264.99% increase when compared with what was collected between 2000 and 2006. On the other hand, the study found out that the application of e-governance principles greatly enhanced several aspects of accountability in the Federal Ministry of Finance, Abuja, between 2007 and 2017. Based on our findings, this study recommended, among other things, that to further maximize the effects of e-governance, the Federal Government should insist that each of the states and local government areas in the country develops and hoists her personal website in order to make information concerning income and expenditure available to her citizens. There is also the need for a massive campaign to reduce the cost of internet subscriptions so as to increase the percentage of Nigerians who have access to the internet, since the internet is a necessary condition for more effective application of e-governance principles.
