Abstract:
The Nigeria budgets in recent time have experience series of challenges and pressure due to the ongoing
global financial crisis On the Nigeria budget particularly in our contemporary era. the paper focus on
assessment of global financial crisis on Nigeria budget with the aim of reposition the public budget in
economy and also to discuss conceptual clarification on thefinancial crisis, budget, fiscal policy and public
expenditure .the study adopt Keynesian theory of financial crisis and wagner were used as theoretical
framework. The work pointed out that fiscal policy as the only solution to the Global Economic Crisis as
advocated by Keynes. The problem is what is the impact of the Global Financial Crisis on the Nigerian
Budget, as well as the policy initiatives that can be employed to minimize the impact from the external
shocks. The study used descriptive analysis of both the oil revenue and public expenditure. The conclusion
is that the Global Economic Crisis does impact negatively on the Nigerian budget, through the response of
the Nigerian Oil Revenue from the external shocks and the recommendation is made on how the impact
could be of significant and utilize in the budget.
