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Full-Text Articles in Economics

Real Sector Policy Measures In The Year 2000 Budget And Sector Performance Appraisal, Isa Yuguda Apr 2000

Real Sector Policy Measures In The Year 2000 Budget And Sector Performance Appraisal, Isa Yuguda

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The article attempts to give the major thrust of the 2000 Budget, itemize the strategies for achievement as well as assessing the real sector performance from January- June 2000. The author noted that the It is important to mention that the year 2000 Budget was conceptualised within the framework of the overall projected economic policy targets of Government up to 2003. ln this regard, it is expected that the provisions of the budget will run in line with such set targets which include, GDP growth rate of 10%, single digit inflation, 70% employment (formal & informal), household access to electricity …

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The Imperative For Energizing The Industrial Transformation In Nigeria., D. Olu Ajakaiye, A. Sesan Ayodele Apr 2000

The Imperative For Energizing The Industrial Transformation In Nigeria., D. Olu Ajakaiye, A. Sesan Ayodele

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The paper examined the imperative for energizing the industrial transformation. Given the foreign uncompetitive and high cost economic environment, the imperative for energizing the industrial transformation in Nigeria, is to create a conducive environment under which there would be free inflow of foreign investible funds. This may not be possible unless the current industrial environment changes to one whose enabling environment encourages industrial policy instruments that make Nigeria a least cost industrial producer. This suggests something drastic must be done policy-wise to modify the existing high bank-lending rate to make it supportive to the industrialization process. Besides, the depreciation of …

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Remarks On The Focus Of The Policy Seminar., Mike Kwanashie Apr 2000

Remarks On The Focus Of The Policy Seminar., Mike Kwanashie

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The remarked was delivered at a seminar on the implementation of Year 2000 budget.

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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 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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Highlights Of The Year 2000 Federal Government Budget, Sarah O. Alade Apr 2000

Highlights Of The Year 2000 Federal Government Budget, Sarah O. Alade

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The paper attempts to give the highlights of the year 2000 Federal Government Budget, analysis of the budget, overall balance, composition of the budget expenditure as well as measuring the budget deficit.

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Data Generation In The Nigerian Environment: The Cbn Experience., A. A. Sere-Ejembi Apr 2000

Data Generation In The Nigerian Environment: The Cbn Experience., A. A. Sere-Ejembi

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The paper examines data collection activities of the statistical services division in collaboration with its Lagos liaison office as well as the zonal research units. The paper analyzes the survey methods applied by them. The task of easing data collection should be regarded as a continuous process. This is relevant even to the most developed economies with sophisticated technology for data collection and processing. Finally, with an improvement in the literacy level and overall appreciation of the role of reliable statistics in the country, it is believed that the public would embrace data generation and availability of relevant statistics will …

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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 Future Role Of Technology In Banking Development In Nigeria., Paul A. Ogwuma Dec 1997

The Future Role Of Technology In Banking Development In Nigeria., Paul A. Ogwuma

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This is an address by the Governor of the Central Bank of Nigeria which examines the evolving relationship between banking sector development and technology in Nigeria and highlight both the future role of banking technology and the challenges that lie ahead. The address also argues that the economy is not only driven by technological advances, but have also in turn spawned technological developments. Technology has been the hub of banking development since the last decade and will continue to be so, well into the 21st century. the main focus of the address is information technology in the integrated form of …

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Monetary Policy And Financial Sector Reform., J. O. Adeeribigbe Dec 1997

Monetary Policy And Financial Sector Reform., J. O. Adeeribigbe

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The objective of this paper is to familiarize course participants with the importance of financial sector reform to the effective conduct of monetary policy based on free market principles, and examine the challenges posed to the monetary authorities in Nigeria in this regard. The paper is divided into four parts. following this introduction, part 11 of the paper analyses the framework for financial sector reform and implications for monetary policy. in part 111 an attempt is made to outline the implementation of financial sector reforms in Nigeria, while part IV evaluates the effectiveness of monetary policy between 1990 and 1997 …

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Interest Rate Policies In Ecowas Countries: A Comparative Analysis., Benji C. Onyido Dec 1997

Interest Rate Policies In Ecowas Countries: A Comparative Analysis., Benji C. Onyido

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This paper reviews the experiences of developing countries in the management of interest rates, with emphasis on ECOWAS countries. While the Anglophone countries have adopted independent interest rate policies overtime, the Francophone members of the West African Monetary Union (WAMU) have shared similar experiences-a common currency (the CFA franc),a central bank (BCEAO) and common monetary policies. The paper is divided into four parts, in part I, it examines the roles of, and factors affecting interest rates. The part II highlights the characteristics of interest rates in developing countries and requirements for a successful interest rate reform. Part III reviews the …

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Government Fiscal Policy In 1996/1997: Implications For Economic Development And Survival Of Banks., Sarah Omotunde Alade Dec 1997

Government Fiscal Policy In 1996/1997: Implications For Economic Development And Survival Of Banks., Sarah Omotunde Alade

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The paper highlights the implications of fiscal policies in the economy and the survival of banks. It provide a broad overview of the impact of the fiscal policies adopted in 1996 and 1997 and its implications for development. The current fiscal policies are predicated on the 1995 budget, the discussion of the effect of fiscal policies on the economy will start from 1995 when the present fiscal policy stance of government began. The structure of the paper is as follows. The introduction, followed by the conceptual role of fiscal policy in an economy, while section III looks at the fiscal …

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Performance Evaluation Of Small-Medium Enterprises (Smes) In Nigeria., B S. Adebusuyi Dec 1997

Performance Evaluation Of Small-Medium Enterprises (Smes) In Nigeria., B S. Adebusuyi

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This paper attempts to evaluate the performance of the SME sub-sector in view of both the general and specific government developmental strategies and policies channelled to the sub-sector. The paper is structured into five sections. The first section reviews the definition, characteristics and roles of the SMEs. section II discusses government policies for the promotion of SMEs, and an evaluation of the performance of the sub-sector is undertaken in section III. The outstanding problems of the SMEs are outlined in section IV, while section V summarises and concludes the paper.

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Management Of Foreign Exchange: A Peep Into The Next Decade., O K. Anifowose Dec 1997

Management Of Foreign Exchange: A Peep Into The Next Decade., O K. Anifowose

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The paper examines the management of the foreign exchange in Nigeria the next decade. The paper is structured into four main sections after these introductory remarks. section 1 discusses some conceptual issues such as:-foreign exchange versus external reserves, objectives of reserve management, strategies employed in managing the reserves and techniques for reserve management. section 11 discusses tools of reserve management the third section provides some thoughts as to the direction of foreign management in the next decade. section IV summarises and concludes the paper.

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A Review And Appraisal Of The Monetary And Other Financial Policies In The Federal Government Budget For 1997., M O. Ojo Mar 1997

A Review And Appraisal Of The Monetary And Other Financial Policies In The Federal Government Budget For 1997., M O. Ojo

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This paper is to be attempts to address the the question: can monetary policy cope with the seemingly increasing challenge of stabilization and growth of the Nigerian economy? In order to provide an appropriate background to the central focus of the paper which is to review and appraise the 1997 monetary policy package, an attempt is made in the second section of the paper to analyse the recent financial and economic conditions in the Nigerian economy after which the basis and elements of the monetary programme for 1997 are outlined in section three. Section four contains an articulation of some …

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Budget Of Economic Growth And Development, Sani Abacha Mar 1997

Budget Of Economic Growth And Development, Sani Abacha

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This is the budget speech of the Head of State of Nigeria which implies a budget of renewal. It examines the success of the 1995 experiment that motivated the second step, of the budget which is to steadfastly fine tune and consolidate the gains of the 1995 budget. The 1996 budget is therefore, essentially a budget of consolidation, designed to continue on a higher plane, to lay a solid substructure for an efficient market economy.

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Policy Seminar On The 1997 Federal Government Budget., Paul A. Ogwuma Mar 1997

Policy Seminar On The 1997 Federal Government Budget., Paul A. Ogwuma

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This is a lecture presented by the Governor of Central Bank of Nigeria. It examines the Nigeria federal budget critically on strategy and framework for the successful implementation of the 1997 policy measures, taking into account the absorptive capacity and constraints of the Nigerian economy.

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Central Bank Of Nigeria, Monetary, Credit, Foreign Trade And Exchange Policy Guidelines For 1997 Fiscal Year., Central Bank Of Nigeria Central Bank Of Nigeria Mar 1997

Central Bank Of Nigeria, Monetary, Credit, Foreign Trade And Exchange Policy Guidelines For 1997 Fiscal Year., Central Bank Of Nigeria Central Bank Of Nigeria

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This paper contains the outlines of the monetary, credit, foreign trade and exchange policy guidelines for banks and other financial institutions in Nigeria during fiscal 1997. The circular is structured into three sections and Appendix. Section one reviews developments in the economy and the policy environment in 1996 and thus provides the background to the policy measures for 1997. While section two outlines the monetary and credit policy measures and guidelines for banks and other financial institutions. The foreign trade and exchange policy measures for 1997 are highlighted in section three and lastly a list of prohibited import and export …

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A Special Address: Policy Seminar On The 1997 Federal Government Budget., Ayo Ogunlade Mar 1997

A Special Address: Policy Seminar On The 1997 Federal Government Budget., Ayo Ogunlade

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The paper contains the special address by the Honourable Minister of National Planning at the opening ceremony of the CBN/NCEMA/NES policy seminar on the 1997 Federal Government Budget. The budget provides the framework for implementing the short-term components of medium-term national development policies and programmes.

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Money Supply, Inflation And The Nigerian Economy, Paul A. Ogwuma Sep 1996

Money Supply, Inflation And The Nigerian Economy, Paul A. Ogwuma

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Experience in many countries, including Nigeria, show that fiscal policies, in particular, intended primarily to stimulate output growth and enhance real income often end up as a major source of financial imbalances and macro-economic instability. The accompanying high inflation has critical allocative and distributional implications that can be detrimental to the growth process. It is against this background that, this short paper attempts, to identify the relationship between monetary growth and inflationary developments in Nigeria and the implications for economic growth. Following this Introduction, Thus, the challenge of maintaining monetary stability has often been a difficult one, the world over, …

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Direct Payment Of Taxes Through Designated Banks., Mallam I. Usman Sep 1996

Direct Payment Of Taxes Through Designated Banks., Mallam I. Usman

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This paper examine the Federal Government policy on direct payment system of tax through designated Nigerian Banks. The main objective of the scheme is to improve the administration of taxation in Nigeria by making it more convenient to tax payers in terms of time saving, reducing the incidence of fraud which has, over the years, depraved Government of needed revenues, minimizing the risk of carrying cash, providing transparency and -improved accountability, and of course, enhancing revenue yield substantially.

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Research And Economic Policy In The Nigerian Public Sector., Ojo M. O. Sep 1996

Research And Economic Policy In The Nigerian Public Sector., Ojo M. O.

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The paper examines the role of research for economic policy management in the Nigerian public sector. The subject is treated comprehensively for the information of participants. It further discusses some conceptual issues, the policy framework for economic management, appraisal of policy research in the public sector, the observed problems in national policy research and some proposals for improvement.

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Efficient Administration Of Credit For Small Scale Industrial Development., C. M. Anyanwu Sep 1996

Efficient Administration Of Credit For Small Scale Industrial Development., C. M. Anyanwu

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Industrial development involves the development of a technical arrangement that moves an economy from the traditional method of production to a more complex system of mass manufacture of a variety of goods and services involving technology and management techniques. Industrialization tends to propel growth and quicken the achievement of structural transformation and diversification of economies. It enables a country to utilize fully its factor endowments and depend less on the external sector for its growth and sustenance. Through industrialization, an economy gains the versatility and resilience that enable it to raise the standard of living of its people and cope …

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Problems And Prospects In Agricultural Financing In Nigeria Under Economic Deregulation., Odu Paul C. Sep 1996

Problems And Prospects In Agricultural Financing In Nigeria Under Economic Deregulation., Odu Paul C.

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The paper focus on the government economic deregulation in Nigeria in 1986 which was discussed in sections. Section I of the paper reviews the trends in the agricultural finance sector before and during SAP. The perspectives of agricultural lending under deregulation is discussed ln section II. Section III analyses the formal and informal credit to agriculture, and section IV reviews the policy implications/solutions of deregulation under agricultural financing, while section V concludes the paper.

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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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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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Diversification And Promotion Of Exports Of Nigeria's Energy Products., M. O. Ojo Jun 1996

Diversification And Promotion Of Exports Of Nigeria's Energy Products., M. O. Ojo

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Energy is a critical input in the economic development process. It is expended in one form or the other in agricultural production activities, especially food processing and transportation. and in the production of farm inputs such as fertilizer. pesticides and agricultural equipment. Energy is equally necessary for industrial operations or facilitating the running of plant and machinery of manufacturing units. It is also required for house-hold cooking & lighting and for the construction and operation of the infrastructure needed for schools, health care services and water sup-ply. Indeed, the levels of energy supply nd consumption are strong indicators of overall …

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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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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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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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