Agora Policy recommends harmonizing the monetary and fiscal policies of the Nigerian government

Agora Policy’s advisory team called for unification of the federal government’s monetary, trade and fiscal policies.

The advisory panel identified fiscal discipline as a key requirement for maximizing the benefits of the federal government’s ongoing reforms.

In the report published on Friday entitled “FG’s fiscal policy horizon remains cloudy” Agora Policy noted that fiscal authorities cannot pursue an expansionary policy while monetary authorities pursue a contradictory path.

The report says: “For a country struggling with high debt, growing budget deficits and stifling inflation, different economic policy actors should be singing the same anthem of inflation control and fiscal consolidation.

“In summary, we argue that sustained fiscal discipline is critical to ensuring that the potential gains from fiscal reforms are maximized to the benefit of citizens.”

According to Agora Policy, this will require greater transparency and responsibility in public finance management.

The company stressed the need for sustained and strategic investment in social welfare programs, infrastructure and human capital development to make growth more inclusive and close socio-economic disparities.

“Different types of policies must work together, not cross-functionally,” it said.

The think tank also called for lower government costs to build greater confidence in the federal government and fiscal institutions.

Author: Babajide Okeowo

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