Fiscal and Monetary Policies in Nigeria: Key Aspects, Performance, and Policy Options

  • Adesola Ibironke Adekunle Ajasin University, Akungba-Akoko, Ondo State
Keywords: Nigerian Economy, Fiscal Policy, Monetary Policy


This paper reviews key aspects of Nigeria’s fiscal and monetary policies with the aim of examining the performance of the policies. The paper provides a synthesis of key facts and draws policy conclusions which include the following: (i) fiscal policies such as the oil-price-based fiscal rule introduced in 2004 have increased fiscal discipline and reduced fiscal deficit in Nigeria, hence the policies should be maintained; and (ii) compared to the period of direct or controlled monetary policy approach, monetary policy has performed better in Nigeria under the market-based approach introduced in 1993, therefore the latter approach should be maintained.


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How to Cite
Ibironke, A. (2018). Fiscal and Monetary Policies in Nigeria: Key Aspects, Performance, and Policy Options. JOURNAL OF SOCIAL SCIENCE RESEARCH, 12(2), 2804-2818.