Public Expenditure Management (PEM) is a tool designed by the World Bank to ensure effectiveness and efficiency of public resources by various governments of the globe. PEM cannot be used in isolation of financial management; rather it is used to formulate an efficient budget of any given country. The life cycle of the Nigerian budget has ever been in question, necessitating issues regarding when the national budget starts on one hand, and when it ends on the other. Under normal circumstance, the life cycle of the budget supposes to be January to December of every year, but the reverse is the case in Nigeria. The question now is that, why is Nigerian budget not complying with the ethics and integrity of the budget and budgetary system as stated in the life cycle of the budget? This study intends to probe why is the national budget deficient with respect to the elements of PEM in Nigeria? The study is premised on qualitative analysis where content analysis is used to identify issues that are causing hindrances to the effective and efficient workability of the national budget. It is found in the study that there is a need for proactive steps in embracing the use of the PEM approach in designing and implementing budget in Nigeria. These proactive steps may include strict adherence to the fiscal responsibility act, aggregate fiscal discipline, follow the laid down rules and regulations, etc. The adoption of PEM will definitely translate to effective and efficient management of public resources.