Nigerian Fiscal Policy

Dear Vinod Sir, I want to know Nigerian fiscal policy. What is this? And how can I evaluate critically the objectives of the Nigerian fiscal policy?

Ogunnubi Morufat from Nigeria
Nigerian fiscal policy means the fiscal policy of the country of Nigeria. Nigeria is located in the West Africa comprising 36 states. For, development of Nigeria, it is the duty of the Govt. of Nigeria to make a good fiscal policy. Fiscal policy is the part of public finance. Under Nigerian fiscal policy, Govt. collects money from his different sources. After this, it is utilized for welfare and development expenditures. Nigerian Govt. tax policy and expenditure policy will be under fiscal policy.

I am not the native of Nigeria, but as internet savvy, I am trying to evaluate critically the objectives of the Nigerian fiscal policy for you. First of all. I collected some of financial data of Nigeria which is showing following things

1. # Main source of earning of Govt. of Nigeria is petroleum. 80% of earning of Nigerian govt. is from petrol production and export. Nigeria's anticipated revenue from petroleum is about $52.2 billion.

Earning of Nigeria is good but it is dependent on one source of earning which is not good. In future, when petrol will decrease, it will be more difficult for Nigeria to survive. So, from today, Govt. of Nigeria has to work hard to research new sources of earning.

2. # Health, health care, and general living conditions in Nigeria are poor.

This is one of very sad information for me. Why are health conditions of Nigeria so poor. Is Govt. of Nigeria no money to open hospitals for Nigeria peoples. Or Govt. is not interested in it. What so ever, but one thing is clear, if Nigerian people will start to care health themselves, there is no need to invest money in hospitals. From my 31st years, I am living very healthy in India without any problem due to following rules, you can learn all these rules.

a) Never eat meat, non-veg. or eggs.

b) Never drink alcohol.

c) Never drink tea. Always drink milk.

d) Pray of God day and night.

e) Come to help to needy and helpless.

3. Education is in a state of neglect.

It is also sad news. Govt. of Nigeria should create good provision not only free education but compulsory attendance of students of Nigeria. To provide technical education is good way to empower Nigerian peoples. If educated Nigerian will start NGO for providing education to poor community, they can also reduce the expenditures of education in Nigeria.

3. Nigeria's human rights record remains poor and government officials at all levels continue to commit serious abuses.

This is not the problem of Nigeria but it is the problem of human being. It is easy to learn bad things. But it is difficult to learn good things. Govt. officials who commit serious abuse should be given hard punishment.

4. Nigeria is home to a substantial network of organized crime, active especially in drug trafficking.

This information shows that Govt. is not providing good money in its budget for reducing all these things. Special crime branch should be organized for reducing these things.

5. As a result of corruption 80 percent of energy revenues benefit only 1 percent of the population.

This is another critical point which is against the objective of fiscal policy of Nigeria.

6. About 57 percent of the population lives on less than US$1 per day.

I think, above points affect this point. When people will become educated, they can earn US $ 1000 in day.

7. In 2005 Nigeria’s central government had expenditures of US$13.54 billion but revenues of only US$12.86 billion, resulting in a budget deficit of 5 percent.

This is the good sign of Govt. budget. No need to get loan for this budget deficit.

8. In 2005, Nigeria imported about US$26 billion of goods.

Nigeria should produce its necessary things. After this, it can save money from imported goods and give employment to its people.

9. In recent years, Nigeria has expanded its trade relations with other developing countries such as India. Nigeria is the largest African crude oil supplier to India — it annually exports 400,000 oil barrels per day to India valued at US$10 billion annually.

India will always support to Nigeria what we can do because we believe, live and to be live.

10. Conclusion

There is lots of plus and minus points of Nigerian fiscal policy but Govt. should not forget that it is accountable for public of Nigeria. Govt. of Nigeria should do his duty with honesty and dedication. After this, Nigeria can develop.

Related : Economy of Malaysia 2010


Comments on this Website
Share above Content to Your Friends


access account accountant Accounting accounting definitions accounting ebook Accounting education accounting procedure accounting process outsourcing Accounting Software advance advertising africa Amalgamation amendments announcements Annuity assets audit auditing Australia B.Com. balance sheet bank Bank reconciliation banking basic accounting BBA benefits best bill black money blog bloggers book keeping bookkeeping Branch Accounting - full tutorial budget Budget variance business businessman CA calculator canada capital capital budgeting career cash cash book cash flow statement Chiense children china class coaching coins college commerce commerce students company computer computer accounting conference Contact vinod kumar corporate accounting cost cost accounting cost center cost centre CPA credit credit card cs currency data Debit and credit debit cards debt debtor degree depletion depreciation documents dollar domain Downloads Dubai e-accounting earning education Education Loans email employee EPF ERP euromoney examination excel excise duty expenses facebook factor of loan fans feature fifo FII fiji finacle finance Financial financial accounting fire insurance flickr flow forensic forex formula france fraud free fun function fund GAAP GDP gdr germany gold goodwill goodwill accounting google google apps google apps google base google buzz google calendar Google docs google finance google fusion tables google talk govt. GST guide health Hindi Hindi Language history holding company How to treat FBT in Tally 9 HRA ICAI ICAWI ICICI Bank IFRS income income statement Income Tax India indian railway Indonesia inflation inflation accounting infographics information inspiration insurance insurance accounting interest international Internet Introduction of Tally 9 inventory investment invoice IT Japan Job costing journal entries Kalculate keyboard kindle kuwait laptop law LBT learning lease lecture ledger leducation Leverage Analysis liabilities lifo linkedin loan logical point loss loss of profit M.Com. m.phil malaysia management accounting manual accounting manufacturing account market marketing mastercard material MBA MCA media migration mobile money ms word ms. excel multi currency in tally 9 Multicurrency Accounting mutual fund national security new and sacrifice ratio new york times new zealand news NGO nonprofit-accounting North Georgia Mountains NPV NSE odbc office oman online application online accounting otcei pakistan parents pay pal pdf pie chart pie chart of income pnb podcast ppf presentation price privacy policy prize money prof. vinod kumar profit profit and loss account project management provision purchase puzzles quickbooks Quote quotes quotes of svtuition rating agency ratio analysis RBI readers real estate rectification of errors remote control reports reserves responsibility accounting retirement revenue Revenue reserves review risk rupees salary sale saudi arabia saving sbi scholarship school SEBI security service tax share share trading Shares shri lanka singapore sms social accounting society solution South Africa stock stock exchange structure student students study subsidiary company svtuition swiss bank tally tally 9 Tally 7.2 Tally 9 Tally.ERP 9 tanzania tax Tax Accounting TDS teacher teaching technology test testimonial testimonials thailand tips trading trading on equity transaction trend trial balance tuition twitter UAE UGC - NET Commerce UK United Arab Emirates university usa valuation VAT Video Voucher and vouching wikipedia working capital youtube
Accounting Education: Nigerian Fiscal Policy
Nigerian Fiscal Policy
Accounting Education
Not found any lecture VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES Lectures View All RECOMMENDED FOR YOU Category ARCHIVE SEARCH ALL Lectures Not found any lecture match with your request, please help to write it and send it to our email at for making this website free accounting and finance encyclopedia. Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock