Fiscal and Monetary Policies Coordination and Economics Growth in Nigeria

  • Ishaku Rimamtanung Nyiputen
  • Osang Paul Abijia
  • Orji Alexander Chinedu
Keywords: monetary policy, fiscal policy, coordination and economic growth


Macroeconomic policy aims for steady, inflation-free growth. These measures include, for instance, monetary and fiscal policy. The Nigerian central bank utilizes monetary instruments, whilst the ministry of finance uses fiscal policy. Coordination of policies is required for the efficient application of the chosen policies and the accomplishment of the intended goal(s) or targets since the objectives and results of the policies adopted by the two institutions frequently clash. Using time series data from the World Bank Development Indicators, this study assessed the effects of monetary-fiscal policy coordination on economic development in Nigeria from 1980 to 2018. Multiple regression analysis was used in the study, and the results showed that, despite being ineffective, monetary-fiscal policy coordination is the most crucial tool for preserving economic stability in Nigeria. The study's findings imply that before starting to enact fiscal measures, the government should focus on monetary operations. Additionally, the agencies in charge of carrying out monetary and fiscal policies must demonstrate a stronger commitment to enhancing their coordination.


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How to Cite
Nyiputen, I. R., Abijia, O. P., & Chinedu, O. A. (2023). Fiscal and Monetary Policies Coordination and Economics Growth in Nigeria. European Journal of Science, Innovation and Technology, 3(3), 69-85. Retrieved from