THE EFFECT OF MONETARY AND FISCAL POLICY ON THE GROWTH OF NIGERIAN ECONOMY
Abstract
This study examines the effect of monetary and fiscal policies on the growth of the Nigerian economy. Monetary policy, implemented by the Central Bank of Nigeria, and fiscal policy, executed by the federal government through taxation and public expenditure, play vital roles in influencing economic performance. The research analyzes how these policy instruments affect economic growth, inflation, employment, and investment in Nigeria. Secondary data from government publications, economic reports, and academic journals were used in the analysis. The study reveals that effective coordination between fiscal and monetary policies contributes significantly to sustainable economic growth. However, inconsistent implementation, fiscal deficits, and inflationary pressures have sometimes limited their effectiveness. The study recommends improved policy coordination, fiscal discipline, and strengthened institutional frameworks to enhance the effectiveness of macroeconomic policies in Nigeria.
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