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Monetary Policy

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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

Facts : 1/1/1995
National Clearing System Re-Visited:In January 1995, a revised clearing rule became operational to facilitate effective clearing of financial instruments and shorten the period of clearing. Consequently, inter-state cheque clearing time was reduced from 21 days to 15 days, while intra-state clearing has been reduced from 12 days to 9 days.
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Related Links
History of Nigerian Currency
Issue System
Currency Gallery
1965 Notes and Coins
1959 Notes and Coins
1968 Notes and Coins
1973 Notes and Coins
1977 Notes and Coins
1979 Notes and Coins
1984 Notes and Coins
pre-1912 Forms of Money in Nigeria
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