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Full-Text Articles in Public Affairs, Public Policy and Public Administration

State's Fiscal Dependency And Implications On Monetary Management In Nigeria, Akinboyo O. Lawrence, Apinran O. Martins Dec 2018

State's Fiscal Dependency And Implications On Monetary Management In Nigeria, Akinboyo O. Lawrence, Apinran O. Martins

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This study examines fiscal management by States in Nigeria and its potential to sustain growth and development. The study used secondary data from the Bank's Statistical Bulletin and the Nigeria Bureau of Statistics. Information on monthly allocations to States, internally Generated Revenue, Debt stock, total Revenue, and Total expenditure were used to examine fiscal imbalance in the States. Data were collected on statutory allocations to States by the Federation Account Allocation Committee (FAAC), Internally Generated Revenue (IGR), States' debt stock, capital and recurrent expenditure from the Central Bank of Nigeria (CBN) and the National Bureau of Statistics (NBS). Descriptive statistics …

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Imperative Of Fiscal Discipline In Sustaining Economic Growth, Uche Uwaleke Sep 2018

Imperative Of Fiscal Discipline In Sustaining Economic Growth, Uche Uwaleke

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The Nigerian economy technically exited a recession since the second half of 2017 but the growth in GDP has remained weak and fragile. The concept of fiscal discipline can be viewed from three perspectives. The first is by public finance theorist, Richard Musgrave, Another view by John Mikesell (cited in Musgrave and Musgrave, 1989), The third usage by Axelrod extends the coverage of fiscal discipline to legislators. This paper examines why fiscal discipline is essential for Nigeria, experiences of peer countries and imperatives of fiscal discipline for sustaining economic growth

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Premium Motor Spirit (Pms) Subsidy Removal : Its Potential Impacts For The Nigerian Economy, Bandele A. G. Amoo, Williams J. Kanya, Margaret J. Hilili, Al-Hassan I. Uba Mar 2018

Premium Motor Spirit (Pms) Subsidy Removal : Its Potential Impacts For The Nigerian Economy, Bandele A. G. Amoo, Williams J. Kanya, Margaret J. Hilili, Al-Hassan I. Uba

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Subsidy payments on premium motor spirit (PMS) in Nigeria have impacted significantly on revenue of the government over the years. The tempo has been on the upward trend over time, resulting in fiscal concerns necessitating immediate government attention. The economy suffered operational challenges, leading to loss of huge revenue. several suggestion on how to address the issue have been provided by various governments over the years, but a permanent solution to the problem are yet to be achieved. thus, this paper reviews the issues and found that, beyond the revenue concern to the government, importing PMS into Nigeria takes about …

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Fss 2020: Pension Sector, Zarah Gadzama Sep 2017

Fss 2020: Pension Sector, Zarah Gadzama

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The Nigerian Pensioner over the years is seen to have been deprived of his/her benefits even after retirement. The inconsistency of payments, corruption and lack of data or payments to Ghost Pensioners was a major setback to the defined benefits pension scheme of the Federal Government. To curtail these challenges, the Federal Government commenced the reform of the sector through legislative reforms to create a robust Pension industry that can meet the needs of all pensioners. This Paper intends to review the Journey So for of the FSS2020 Pension Sector. The paper ls divided into five Sections; Section one deals …

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Fuel Subsidy And Other Unproductive Public Expenditures Removal: A Pragmatic Approach To Restructure And Transform The Nigerian Economy, Lawrence O. Akinboyo Mar 2013

Fuel Subsidy And Other Unproductive Public Expenditures Removal: A Pragmatic Approach To Restructure And Transform The Nigerian Economy, Lawrence O. Akinboyo

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While the short term measures to reduce recurrent expenditure are necessary conditions for fiscal sustainability, the long term imperative is to increase revenue. Thus, efforts should be made by the fiscal authorities in Nigeria to pursue the policy of balancing of expenditure with revenue improvements. The issues of the underperformance of the capital budget should be reversed before savings from cuts in recurrent expenditure can be diverted to the financing of capital expenditure. From the analysis, we say that removal of fuel subsidy would no doubt have some social and economic hardship on the people in the short run, However, …

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The Role Of Financial Literacy And Consumer Protection In Fostering Financial Inclusion, Dutse Umma Mar 2013

The Role Of Financial Literacy And Consumer Protection In Fostering Financial Inclusion, Dutse Umma

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The objective of this paper is to establish the link on how financial consumer protection efforts and financial literacy initiatives help bring people on board the formal financial system. Among the key mandate of the Central Bank of Nigeria (CBN) is the promotion of a sound financial system, while a stable financial system cannot be easily captured in a few words, the attributes that could be demonstrated in a system that is described as financially stable will include public confidence and trust in the institutional framework. Financial stability, therefore, serves to instill confidence in users of financial services. It encourages …

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Interstate Economic Co-Operation: Issues And Options., Sarah O. Alade Jul 2000

Interstate Economic Co-Operation: Issues And Options., Sarah O. Alade

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The main objective of this paper is to present a brief discussion of issues and policy options involved in interstate economic co-operation in Nigeria, and the rationale for economic co-operation among states as well as issues of economic co-operation.

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Interstate Trade And Economic Development In Nigeria., Ukwu I. Ukwu Jul 2000

Interstate Trade And Economic Development In Nigeria., Ukwu I. Ukwu

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The economy is characterized by low industrial development, predominantly poor population and low agricultural production. The paper presents an analysis of the present size and structure of the Nigerian Domestic market, examine the patterns of trade among states and zones, and consider what needs to be done to improve the domestic trade system and enable it play its appropriate role in the overdue of transformation of the Nigerian economy. Finally, the study reveals that economic development of any state or group of states can be improved if they take advantage of economic integration. The relatively low level of economic development …

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The Cbn As A Catalyst To National Economic Policy And Development., J. O. Sanusi Jul 2000

The Cbn As A Catalyst To National Economic Policy And Development., J. O. Sanusi

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The paper examined the activities of the Bank into perspectives, particularly with the often-mis-construed belief the CBN should be held accountable for all the woes of the Nigerian economy. It also reviewed and appraised the performance of the CBN in the effort to meet its statutory mandate and adapt to the circumstances of the new global trend in Central Banking in which the maintenance of price stability supercedes all other objectives of monetary policy. The challenges facing the Bank are enormous, but not insurmountable. Efforts are already being made to confront these challenges. The instrument autonomy recently granted to the …

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Monetary And Financial Sector Policies In The Year 2000 Budget Of The Fgn, M. O. Ojo Jun 2000

Monetary And Financial Sector Policies In The Year 2000 Budget Of The Fgn, M. O. Ojo

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The paper attempts to review the monetary and financial sector policies of CBN during the 2000 fiscal year. It also discussed the issues and problems of implementation of the policies. The paper observes that the Nigerian economy witnessed some anxious moments during the 1999 fiscal year. Severe Pressures built-up in the economy mainly because of the expansionary fiscal policy of the Federal Government during the first five months of the year. lf price of oil in the international market continue to rise above budget expectations and expenditure does not rise in tandem, finance is likely to constrain achievement of most …

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External Sector Performance And The External Sector Policy Measures In The Year 2000 Federal Budget., Mike I. Obadan Apr 2000

External Sector Performance And The External Sector Policy Measures In The Year 2000 Federal Budget., Mike I. Obadan

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The paper briefly reviews the performance of the external sector in the first half of year 2000 and then goes on to appraise the external sector policy measures in the federal budget for the year under review. The study reveals that the The Presidential directive on government ministries, departments and agencies to-Patronise home-made goods as first choice is commendable. The paper suggests that if monitoring mechanisms are put in place, it will ensure full compliance. Private sector operators, individuals, should be encouraged to take a cue from government departments. The Year 2000 customs tariff measures largely address the concerns of …

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The Performance Of The 1999 Federal Government Budget, An Appraisal, Edet B. Akpankpan Apr 2000

The Performance Of The 1999 Federal Government Budget, An Appraisal, Edet B. Akpankpan

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The annual budget is a key instrument for implementation of Government projects, programmes and policies. This paper attempts to explain the fact that the annual budget serves three important purposes, namely; as a tool for accountability and transparency; as a tool of management, and as an instrument of economic policy. The paper conclude that Despite the macrocosmic achievement of this, Administration, basic structural imbalances persist. These include the lingering problems of import dependence, reliance on a single economic sector-oil, weak industrial base, low level of agricultural production, a weak Private sector, high external debt overhang, inefficient public utilities, low quality …

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Welcome Address, J. O. Sanusi Apr 2000

Welcome Address, J. O. Sanusi

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Welcome Address presented by the formal Central Bank Governor, Mr. J. O. Sanusi. The seminar was the sixth of its kind and collaborated with inter agencies with a view to examines the Federal Government Budget for the year 2000.

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The Control Of The Monetary And Banking System By The Central Bank Of Nigeria., Paul A. Ogwuma Jun 1996

The Control Of The Monetary And Banking System By The Central Bank Of Nigeria., Paul A. Ogwuma

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To understand the role of the Central Bank of Nigeria in controlling the system under the prevailing functional arrangement, it would be necessary to relate the conceptual framework of monetary and banking system control to the Bank's experience. To this end, the paper is organised in five sections. After Section One which is the introduction, Section Two examines the conceptual framework of monetary and banking system control. This is followed by Section Three which reviewed the CBN's techniques of control and their changes over the years. Section Four appraises the control measures and ascertains their effectiveness while Section Five provides …

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Mobilising Financial Resources For Growth: Nigeria's Financial Policy Perspective., Felix U. Ezeuduji Jun 1996

Mobilising Financial Resources For Growth: Nigeria's Financial Policy Perspective., Felix U. Ezeuduji

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Financial resources for growth are from several sources because no single source could provide the required funding. The major known sources of resources for growth are based to both the informal sector and formal sector activities which include the fiscal operations of the Government foreign sector transactions, capital market activities, and institutional savings mobilisation in the financial sector which is the focus of this paper. This paper is organised in five sections. The introduction constitutes Section One which provides the background, the objective and the organisation of the paper. In section Two, the conceptual framework of financial resource mobilisation is …

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Fiscal Federalism: Revenue Allocation For Economic Development In Nigeria., T. O. Okunrounmu Jun 1996

Fiscal Federalism: Revenue Allocation For Economic Development In Nigeria., T. O. Okunrounmu

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From colonial administration to independence in 1960 and 35 years of self-rule, revenue allocation in the Federal Republic of Nigeria has had a chequered history. It has been subject of intensive lobbying by politicians in the attempt to have their wishes engrained in the Constitution. This paper is prepared in three parts. Part I is a theoretical overview of fiscal federalism while Part II reviews the Nigerian experience with Fiscal Federalism. Part III analyses proposals for an effective fiscal Federalism that would enhance economic development.

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Nigeria's Domestic Public Debt Stock: An Assessment., Victor A. Odozi Jun 1996

Nigeria's Domestic Public Debt Stock: An Assessment., Victor A. Odozi

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Since the early 1980s, Nigeria has taken steps to evolve external debt management strategies encompassing refinancing, restructuring, buyback, collateralisation and debt conversion arrangements as well as issuing external borrowing guidelines. Although the county's external debt problem remains severe, judging both by the absolute level of the debt stock and the unsustainable trend of the various debt servicing ratios, such as debt stock/GDP, debt stock/exports and debt service/export earnings, it is generally acknowledged that the Government had made concerted efforts to address the problem. However, the domestic debt has not been given the same attention, if any at all. the domestic …

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The Strategy And Financing Of Economic Recovery In Africa., Ubadigbo Okonkwo Jun 1996

The Strategy And Financing Of Economic Recovery In Africa., Ubadigbo Okonkwo

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The paper examines the impact of Structural Adjustment Programmes (SAP) on investment and growth in Africa and suggests the need for a new development paradigm. Working in partnership with the private sector, African Governments must establish a sound institutional and incentive framework for rapid growth. An alternative development strategy should be market-friendly and people-centred and must give priority to the accelerated expansion of exports and Small and Medium Enterprises (SMEs). In view of the bleak prospects for external financing, Africa must rely on domestic financial institutions and capital markets to mobilise the required financial resources for economic recovery.

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