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ABSTRACT

This
research work was undertaken in order to evaluate the impact of Fiscal policies
as a tool for stabilizing a Nigerian economy. A major issue in Nigerian economy
recovery relates to the prospect of adoption of the most relevant fiscal
policies in its economy. In view of this, the researcher addressed the
following problems to be curbed in this research study.

1. Lack of required component of fiscal policies
2. Inconsistency in the use of fiscal policies.
3. Improper implementation of fiscal policies
4. Inability of the country to improve on existing
   fiscal policies.

Due to the
nature of this research work, ordinary method of data analysis and interval
method were used. Both primary and secondary data were used. Secondary data
were gotten from Newspapers and magazines, textbooks, journals and periodicals
etc. questionnaires were used in generating primary data.

From the
analysis made, the researcher discovered that between 1998 and 2000 fiscal
years, the country has witnessed many changes in its fiscal policies which are
hinged on the combination techniques applied on the components of fiscal
policies, the mode of implementation of fiscal policies and the degree of
success in the implementation of process.

Based on the findings made in this research study, the researcher
recommends that the country should embark on the following in order to develop
its economy.

1. The depreciation of naira must be urgently
   considered.
2. There should be stream – lining of activities of
   certain government amend agencies
3. The government should make further fiscal
   adjustments.

TABLE OF CONTENT

Title page

Declaration of
page

Certification

Abstract

Table of
content.

CHAPTER ONE

1.0  INTRODUCTION

1. Background of the study
   1. Statement of the problem
   1. Objectives of the study
   1. Scope and limitation of the study
   1. Significance of the study
   1. Definition of terms.

CHAPTER TWO

2.0  LITERATURE REVIEW

• History of fiscal policies in the Nigeria pre-independence
  • Definition and meaning of fiscal policies
  • Difference between fiscal and monetary policies
  • Tax as a tool of fiscal policy
  • Expenditure in fiscal policy
  • Tax and expenditure in fiscal policy
  • Limitation of fiscal policy implementation
  • The role of the central bank in the formulation and implementation of
    fiscal policy.

CHAPTER THREE 

• Introduction
  • Research design for the study
  • Population and sample size
  • Design and administration of questionnaires

CHAPTER FOUR

4.0  PRESENTATION, ANALYSIS &
INTERPRETATION OF DATA

• Introduction
  • Presentation of data for 2006 fiscal year
  • Analysis of data for 2006 through 2008 fiscal year
  • Analysis of the federal government revenue and expenditure of
    2006-2011
  • Analysis of the state of the economy (2006 – 2011)

CHAPTER FIVE

5.0 SUMMARY
AND DISCUSSION OF FINDINGS, CONCLUSIONS AND RECOMMENDATIONS.

Questionnaire sample.

Bibliography

CHAPTER ONE

1.0  INTRODUCTION

1.1  BACKGROUND OF THE STUDY

       The economy of any country, irrespective
of its structure is regulated by certain policies developed by the government.
Some of these include economic policies, social policies, monetary policies
etc. however of all these policies economic policies are most fundamental. The
economic factors are cynical because they serve as a foundation for the success
of the other policies of government. The constituent element of these economic
policies need to be manipulated simultaneously to achieve the desired results.
The techniques of manipulating the economic factors play an important role two.
One of the essential arms of economic policies – the fiscal policy, serve as a
means of planning, organizing, controlling and coordinating the tempo of
activities in the economy. Fiscal policy in itself can be said to be made up of
specific course of action involving the formulation of tax structure and
expenditure patterns. The direction of these expenditures and taxes are
specific in nature for results or changes. Before the world war, fiscal policy
as a key to economic restructuring and development has been in existence. Many
economists had propounded theories as a means to economic prosperity from the
destruction of the world war, but in the early 20the century, Lord John Keynes
put forward on articulated and constructive solution to solving economic
problem. Lord Keynes in his book explain that the revamping of an economy could
be achieved through the redirection of government expenditures from war
machines to soft loans to increase investment, generate employment and
consequently increase aggregate demand as a means of getting hold on the
hyperinflation that existed after the Second World War.

       In Nigeria, the earliest known forms of
fiscal policies were used. It was established as far back as 19th century by
the British Administration. Then the political system became complex due to the
existence of the indigenous government under Emirs, Obas, Obongs, Obis etc.
along with the colonial masters. In effect, payment for the administration of
the country were made to the British government.

       The government policy used by the
colonial masters on revenue for development was adopted from Dr. Earl Grey
report (1852) in which he advocated economic development amongst civilized
people. Through self determination under the British supervision. Because of
the existence of local authorities which led to indirect rule policy, the
policy suited Nigeria. The revenue generation method which was based on duties
paid on imported goods was pursued because it avoided disruption of the
indigenous social and economic system and its incidence did not directly affect
the average Nigerian. Besides, revenue from duties the British government
support however, began to dwindle due to increase public criticism in Britain
against spreading of Brutish influence in West Africa. 1870, the government
supplement stopped and was reduced from #5,000.00 to #2,000.00 to #1,000.00 in
1862, 1863 and 1865 respectively. The expenditure was solely directed towards
improving the comfort of the British officers and the maintenance of law and
orders. These and then. The revenue and expenditure volume also increase
considerably well into the 20th century. Considering this modern time, fiscal
policy as a means of economic development are not developed in isolation. They
are formulated and implemented simultaneously with monetary policies, foreign
policies by the government with the aim of having a synchronized approach in
tackling economic problems. The generally accepted fiscal policy measure
incorporates welfare economics as a means of reducing adverse effects that may
arise thus reducing the standard of living of the citizens of the country.

 From the foregoing, this research is aimed at identifying the role of fiscal policies in the development of Nigerian economy.

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