ABSTRACT.

This research study was conducted in order to examine survival strategy for banks in Nigeria focus on budgeting. In order to actualize this, the researcher chooses United Bank for Africa (UBA Lagos). The researcher addressed the following problems in this study like low level and poor performances that threaten survival of the banking industry. None effective application of budgeting in a depressed economy as a means of survival in the banking industry The researcher employed descriptive type of research design, questionnaires, personal interviews were used in getting primary data while text books, hand-books, newspapers were used in collecting and gathering secc5ndary data. The data collected were analyzed and interpreted using tables with simple percentages and chi-square. From the test and interpretation of the hypothesis as well as other analysis made the following results were obtained. • The banking industry has a significant, effective and efficient budgeting system. • The industry has both qualified, experienced and unqualified members that prepare and formulate their budget. • The industry works with an error free budgetary system which uplift the smooth running of the banking industry in a depressed economy. x •1 The researcher therefore recommends that the banking industry should embark on the following for smooth running of the banking industry in a depressed economy which will yield an effective and efficient profit. 1. The budget manual should be reviewed from time to time and should be circulated to all that are coming in the preparation of the budget. 2. The means of identifying variances should be more clearly stated and evaluated. 3. Managers should be encouraged to attend training programmes on budgeting and budgetary control to enhance their effectiveness in budget preparation in particular and productivity in general. 4. For greater effectiveness budget monitoring committee should be set up. 5. The management of the bank should ensure that individual bank staff doing a particular task must be consulted when setting the target for the task because such person might be in the better position to make reliable estimates.