Nigeria’s Fiscal And Monetary Policy Operstions: Matters Arising From The Increasing Fiscal Deficit And Its Financing Mechanism

It suffices to start this piece by stating unequivocally that the ‘new dept’ of Nigeria’s economic woes is so frightening and deep-seated to the extent that it is capable of shaking the confidence of any team of economic advisers no matter their grip on the theories and practice of economics.

It is so systemic and endemic that it can erode whatever faith the President had in himself, his cabinet, the machinery of governance and the government. Nigeria is bleeding from all sides of its body politic. This crisis stems mainly from issues that revolve around fisc and money.

The chain is too long and its linkages are strong and complex. Yes, they are matters that relate to revenue, expenditure and consequences of their operations; fiscal deficit and its financing mechanism through banking and non-banking sources.