AN ASSESSMENT OF BUDGETING AND BUDGETARY CONTROL IN TERTIARY INSTITUTIONS CHAPTER ONE INTRODUCTION 1.1      Background of the Study The idea of budgeting is one of Nigeria’s inheritances from Britain where it arose as a result of the struggle between the parliament and the sovereign of control the finance of the crown. The white heather bad or pouch that held the seal of the medieval court of the exchanger. Letter, the minister’s pouch contain his proposals for financing government expenditures likewise known as budget and the minister when presenting his proposals was said to open his budget. Gradually, the word became to be used for the proposals themselves and hence for any statement of public bodies, commercial companies or private individuals, budget is now widely regarded not only as an effective mechanism for the establishment of priorities in relation to the available resources, but also an instrument for effective implementation of the national ...