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Monetary and Financial Sector Policies in the year 2000 budget of the FGN
No full textThe 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 of the objectives of the budget. However, there is need to strengthen administrative capacity so that get policies can be monitored Real sector policy measure should also be faithfully implemented to remove the bottlenecks in the production system and to provide the enabling environment to ensure adequate supply response to policy measures
Welcome Address
No full textWelcome 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
A revenue simulation model of value added tax in Nigeria
No full textThe main purpose .of this.paper is to provide an analytical framework for estimating the potential VAT base and revenue collections using micro simulation techniques. Micro simulation models have become very attractive because of their potential to respond to important needs for information on the effect of broad. policy changes on revenue, on the relevant population groups and on programme costs. In addition to forecasting the revenue estimates, the modeI will provide the necessary tool to assess the consequences of government policy decisions regarding changes in tax rate and increased compliance with the tax law
The role of the Central Bank of Nigeria in the effective implementation of the IMF code of good practices on transparency in monetary and financial policies.
No full textThe objectives of this paper are essentially twofold: to familiarize seminar participants with the code of good practices as it relates to transparency in the conduct of monetary and financial policies; and to examine the role of the Central Bank of Nigeria (CBN) in ensuring the effective implementation of the Code in Nigeria particularly against the backdrop of the international acceptability of the Code as a standard for gauging how transparent monetary and financial policies are In the member countries of the International financial community. For ease of exposition, the paper is divided into four parts. Following this introduction, part II of the paper presents the background and elements of the Code, highlighting the rationale for each element. In part Ill, a discussion of the role of the CBN in the effective Implementation of the Code in Nigeria, while the paper ends with some concluding remarks in part IV
Review and harmonisation of framework of fiscal and monetary policies for effective economic management in Nigeria.
No full textThe objective of this paper, is to review the framework of monetary and fiscal policies with a view to forging a framework for harmonising them for effective economic management. The rest of the paper is divided into six parts. Part 2 is a theoretical overview of some fiscal policy concepts, especially those related to fiscal deficit size and financing. Part 3 examines the macroeconomic policy framework which forms the common basis for the design of fiscal and monetary policies. Parts 4 and 5 analyse in greater details, the framework for fiscal policy and monetary policy, respectively. Part 6 is a critical review of the lack of fiscal and monetary policy harmonisation in Nigeria. Part 7 is a harmonised framework of fiscal and monetary policies for effective economic management in Nigeria
Interstate cooperation and educational development in Nigeria.
No full textThe paper highlights on interstate cooperation and educational development in Nigeria. Education is a major instrument for economic and social development. The process of allocating resources to the sector vis-a-vis other sectors depends again on the political priorities of the decision makers. Whether or not different states, which belong to the same ideological camp, can and will cooperate in the field of education in future is not certain. The empirical analysis of existing facts have further strengthened the hypothesis that there exists a structural and cause - effect relationship between education and other aspects of the social structure. Political competition is one of the powerful aspects of this structure
Real sector policy measures in the year 2000 Budget and Sector performance appraisal
No full textThe 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 of 60%, etc. by year 2003. Although the Budget has now been approved and signed into law, a few suggestions concerning fits implementation, may suffice and I believe they will\u27 be included in the final recommendations to Government
Empirical analysis of the demand for petroleum products in Nigeria
No full textThe paper identifies the various variables in the consumption framework for policy simulation purposes regarding energy planning in the country. Elasticities were also estimated for proportions of GOP contributed by agriculture, manufacturing and seNices. The empirical findings reveal that urbanisation was one of the principal factors that has a positive impact on the consumption of liquified petroleum gas and premium motor spirit. The impact of urbanisation on the consumption of household kerosene is negative, showing that kerosene is not urbai lisation elastic. The policy implications of the findings include the need to keep track of the proportion of the population moving into the urban centres, and the relative shift in the importance of the major sectors of the economy. These were significant in the estimation of the demand for petroleum products
Capacity building, improving work ethics and enhancing productivity in the Nigerian Civil Service.
No full textThis paper examines issues that are of great concern to capacity building, improving work ethics and productivity enhancement in the Nigerian civil service with the ultimate objectives of proposing informed ways and means of improving the human capacity for analysing and managing development in a rapidly changing world. The rest of the paper is organised as follows: The next section discusses conceptual issues where the concepts of capacity building, work ethics and productivity are defined in order for us to focus on the essential attributes of the concepts with special reference to the Nigeria civil service. The contemporary situation in the civil service in respect of capacity building, work ethics and productivity improvement are analysed respectively in sections three, four, and five. The paper ends in section six with conclusions and recommendations
Keynote address at the eighth CBN Executive Policy Seminar.
No full textThe keynote address on the occasion of the eighth annual Policy Seminar for Executive Staff of the Central Bank of Nigeria with the theme Governance and the Economic Policy Environment