AMINU U. YUGUDA, Yohanna G. Jugu, A. A. Okwoli


This study tried to underpin the major problem faced by development projects financed by World Bank in Nigeria. Financial management arrangement was suspected to be responsible for the lack of sustainability of the projects after withdrawal of donor funds. But sustainability as a broad concept was conceived here to be continuous funds flow for
entrenchment and maintenance of development benefits as a result of intervention after donor withdrawal or maintaining and creating continuously, development benefits after donor withdrawal. In this work we employed the explanatory design in order to collect data for answering our research questions. The factor analysis was used to explain the
significance of each of the identified factors in influencing effective financial management structures that will aid sustainable funds flow. Findings indicate that in-adequacy of financial management arrangements which comprises of; disbursement arrangement, Budgeting and internal control, internal audit, financial monitoring reports and statutory audit arrangements- were found to be responsible for lack of sustainability. Factor loadings determined those factors that are most responsible for sustainability or non sustainability of funds flow. Adequate financial monitoring reports, adequate statutory audits, proper disbursement procedures tied to sustainability efforts by recipients and strong internal
controls were the major factors that had highest factor loadings thus, most influential in determining sustainability of funds flow for development benefits after donor funds seizes. The study recommends sound statutory audit exercise, strong internal audit arrangements; report based disbursement and clear result frame work should be ensured in all World Bank assisted projects.


Sustainability, Financial management, Funds flow.

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International Journal of Management Science Research ISSN ISSN 2536 – 605X(Print)

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