Policy Framework and Management of Sustainable Macroeconomic Stability in Nigeria: Processes, Challenges and Prospects

Abstract

This paper examined the policy framework for macroeconomic stability in Nigeria from 1979 to date, observing the coordination of monetary and fiscal policies in Nigeria by looking at the purpose of the broad macroeconomic objectives as well as the key tools of economic management. The paper discusses, among others, the review of major policy framework in Nigeria; issues and performance of the monetary and fiscal policies framework; and the challenges of the monetary and fiscal policies management in Nigeria. The paper concludes that due process and discipline should be honestly restored in governance to avoid unnecessary policy failure while the fight against corruption should be intensified through speedy prosecution of cases in courts to assist in sending the right signals to corrupt government officials.