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The Conduct of Fiscal Policy
Fiscal Policy 1991
The 1991 fiscal policy measures addressed trade and related policy issues designed to further streamline the operations of a deregulated economy for increased efficiency, productivity and creation of more employment opportunities. In order to sustain the achievements of SAP, government also decided to pursue a growth-oriented public policy that was stable, consistent and predictable.
The retained revenue of the Federal Government amounted to N32,223.5 million in 1991. This showed a decrease of N7,243.7 million or 18.4 per cent level in 1990. The total expenditure of the Federal Government rose to N67,530.4 million which was N6,381.3 million or 10.4 per cent higher than that of 1990.In all, the fiscal operation of the government resulted in a deficit of N35,306.9 million compared with N21, 681.9 million in 1990