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The Conduct of Fiscal Policy

Fiscal Policy 1993
The 1993 policy thrust focused on addressing the sluggish performance of the productive sectors, especially the manufacturing sector, enhancement of private sector involvement in productive activities, unemployment, the depreciating Naira and external debt problem.

In 1993, the retained revenue of the Federal Government rose by N9, 833.1 million or 15.5 per cent to N73, 397.9 million. Government expenditure increased in an aggregate by N66.801.1 million or 62.0 percent to N174, 524.4 million. Accordingly, the overall budget deficit of the government amounted to N101, 126.5 million, representing an increase of N45, 177.4 million or 80.8 per cent over the previous year.

Facts : 1/1/1900
NEEDS:National Economic Empowerment and Development Strategy was developed by the National Planning Commission, then headed by Prof Charles Soludo. It was endorsed by the Federal Executive Council of Nigeria as a poverty-alleviating strategy. The aim of the scheme was to meet the Millenium Developoment Goals of curbing the menace of poverty in Nigeria and bringing it to the barest minimum by the year 2015.
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