Publications

February 26, 2010

Issues In Fiscal Policy Management Under The Economic Reforms

This paper was produced as part of a larger project which was jointly financed by the UKDepartment for International Development in Nigeria (through its Policy and Knowledge facility)and the Research Committee of the World Bank.

Download Label
March 13, 2018 - 4:00 am
application/pdf
5.96 MB
v.1.7 (stable)
Read →


Author:Dr. Bright Okogu &Philip Osafo-Kwaako

Publication Date: April 2008

Document Size: 22 pages


Oil-dependent economies face two interrelated challenges in the management of oilresources: in the short run, there is the need to create a stable macroeconomic environmentby delinking oil revenue earnings from public expenditures, while in thelong run it is necessary to maintain a sustainable use of resources that ensures intergenerationalequity. In most of the past three decades, Nigerias management of oilresources was poor. The Nigerian economy has experienced significant macroeconomicvolatility, driven largely by external terms-of-trade shocks, the countrys largereliance on oil export earnings and poor policy choices in the management of oilrevenues. By some measures, Nigeria ranked among the most volatile economies inthe world for the period 19602000. Moreover, contrary to the receivedwisdom of increasing financial assets as a means of saving oil revenues, Nigeria hadaccrued significant domestic and foreign liabilities.




Related

 

Public Spending On Education And Health In Nigeria

The paper conducts a Benefit Incidence Analysis to determine if public expenditure in education and health sector in Nigeria is pro-poor or pro-rich.

Nigeria Economic Update (Issue 44)

Latest Doing Business report by the World Bank ranks Nigeria as one of the top 10 economies that showed notable improvements in doing business in 2016/2017. Precisely, the report which presents quantitative indicators on business regulation compared across 190 economies and ranked Nigeria 145th - up by 24 positions from the previous report ranking, to reach its highest rank since 2013. This may not be unexpected, given that it is consequent upon various business environment reforms in 2016. Particularly, the Presidential Enabling Business Environment Council (PEBEC) set up in 2016 enacted 31 reforms to improve business(such as improving credit to small and medium-size businesses) all of were enacted into law in May 2017.

Nigeria Economic Update (Issue 52)

Recently released population estimate figures by the Nigeria Bureau of Statistics, show a significant increase in Nigerias population, based on the 2006 census. Notably, total population grew by an estimated 40 percent from 2006, to 193 million persons in 2016. Also, disaggregate demographic data from 2007 to 2016, reveals an increase in the number of males (74 million to 99 million) and females (71 million to 95 million), with a 2016 gender (males to females) percentage ratio of 51:49. The high rate of population growth can be attributed to the improvements in average annual rate of natural increase the difference between crude birth rate and death rate. As in preceding years, the composition of children and youths make up the highest share of the population growth. This presents a potential increase in the rate of labour supply. Going forward, there is need for the government to support rapid job creation in order to check the potential upsurge in unemployment rate.

An Analysis Of The Nigerian Economic Growth And Recovery Plan

This Paper examines the response of the Nigerian government to the ongoing recession in the domestic economy, particularly in the context of the recently released Economic Recovery and Growth Plan (ERGP) for 2017-2020. It also provides an analysis of key questions regarding the suitability, achievability, and prospect of the ERGP. The second section of the brief runs through the state of the Nigerian economy with a focus on the cause and drivers of the ongoing recession. The third section reviews the objectives, implementation strategy, and expected outcomes of the ERGP over the medium-term. The fourth section weighs on the potentials of the ERGP by analyzing some pertinent questions: Is the proposed recovery plan and policies well-targeted to address prevailing economic crises in Nigerian economy?