An Analysis of Nigeria's Fiscal Policy Design and Reflections

Nwaogwugwu, I.C (2017)

Staff Publications

Article

Nigeria s fiscal policy issues have dominated the discussion in many years over matters of design and management as efforts by the government to redirect the economy through fiscal actions have not yielded desired results. This paper therefore, makes an attempt at reviewing the design and reflections of Nigeria s fiscal policy between 1960 and 2011. This period has been divided into five sub-periods of fiscal policy regimes based on the similarity of policy and its manifestations. Relying on descriptive statistics the paper reveals that fiscal policy regime shifts are not consistent with the overall economic policy of the state. Thefiscal targets and instrument variables were also poorly defined and mismatched both in content and operations. The paper therefore recommends a robust fiscal policy design and regime that will effectively complement the nation s monetary policy actions.