Experts canvass synergy of fiscal and monetary interventions
Experts have appraised the effectiveness of fiscal and monetary policies of the Ministry of Finance, Budget and Planning (MFBP), and the Central Bank of Nigeria (CBN), in tackling the country’s economic challenges and found them to be inadequate due to lack of coordination between the two.
While the Finance Ministry appears to be focused only with borrowing from all possible quarters and increasing tariffs to raise more revenue for the government, the CBN is preoccupied with shielding the Naira from unnecessary pressure through rampant importation of items that could have been produced locally, thereby depleting the foreign reserves and spiking exchange rate.
Prof Segun Ajibola, a former President, Chartered Institute of Bankers of Nigeria (CIBN), and Professor of Economics, Babc...