THE ROLE OF FISCAL POLICIES IN THE DEVELOPMENT OF NIGERIAN ECONOMY
(A CASE STUDY OF CENTRAL BANK OF NIGERIA)
This research work was undertaken in order to evaluate the role of Fiscal policies in the development of Nigeria economy. A major issue in Nigerian economy recovery relates to the prospect of adoption of the most relevant fiscal policies in its economy. In view of this, the researcher addressed the following problems to be curbed in this research study.
i. Lack of required component of fiscal policies
ii. Inconsistency in the use of fiscal policies.
iii. Improper implementation of fiscal policies
iv. Inability of the country to improve on existing fiscal policies.
Due to the nature of this research work, ordinary method of data analysis and interval method were used. Both primary and secondary data were used. Secondary data were gotten from Newspapers and magazines, textbooks, journals and periodicals etc. questionnaires were used in generating primary data.
From the analysis made, the researcher discovered that between 1998 and 2000 fiscal years, the country has witnessed many changes in its fiscal policies which are hinged on the combination techniques applied on the components of fiscal policies, the mode of implementation of fiscal policies and the degree of success in the implementation of process.
Based on the findings made in this research study, the researcher recommends that the country should embark on the following in order to develop its economy.
i. The depreciation of naira must be urgently considered.
ii. There should be stream – lining of activities of certain government amend agencies
The government should make further fiscal adjustments