OPTIMUM STRATEGY FOR THE MANAGEMENT OF ANAMBRA STATE GOVERNMENT FUNDS VIA GOAL PROGRAMMING MODEL

Abstract

This study focuses on the management of State Government funds in Nigeria with special reference to Anambra State Government funds from 2017 to 2021. A structured questionnaire was used to obtain data from the public with regard to project priorities and preferences from which the priority weights were determined and the degree of the responses taken at the priority order. Quantitative and Qualitative analytic methods were employed in the analyses of data. The goal formulation and weighted pre-emptive goal programming model were used to optimize the management of the State funds because of the involvement of multiple goals. The goal programming model is formulated to find an optimal solution for seven different goals using the modified simplest method and the two-phase techniques of TORA software for the analysis .The result of the analysis outlines the projects among many projects government embark on such as : reduction of levy/tax on ordinary citizen, increase in personnel cost and security fund, increase in Internal Generated Revenue ( I G R ), reduction of dependence on federal allocation fund and increase in capital expenditure and development funds like construction of roads, community development and social amenities, that have the highest impact (in terms of utility) on the people. The results established from the findings portrayed that out of the seven goals addressed, goals 3, 4, and 6 were not accomplished while goals 1, 2, 5, and 7 were totally accomplished. These results therefore, is of great importance and provides a guide through priority ranking and goal formulation when there are multiple goals to be accomplished by the State Government in making some future financial decisions such as investment, financing and dividend decision that will be a special benefit to Anambra State Government in curtailing and balancing the expenditure with the available income.