Monetary Policy

MPC Mandate of the CBN | Fiscal Policy | Committees | Calendar of Meetings | Educational | FAQ's | Policy Decisions | Policy Communiques | Intl. Economic Cooperations | Monetary Policy Review | Policy Measures | Understanding Monetary Policy Series | Monetary, Credit, Foreign Trade and Exchange policy Guidelines | Monetary Policy Committee Reforms | AfCFTA

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.