Economic and Financial Review


Central Bank of Nigeria


Fiscal Policies, African Countries


The paper discusses the critical role of fiscal policy in developing African economies. While it is accepted that fiscal management is one of the important functions of a modern state, the nature of the fiscal management in a specific environment determines, to a large extent, the overall effect of such intervention. The Nigerian experience indicates a very narrow revenue base that could not withstand the weight of public expenditure and investment.

Author Bio

The authors M. O. Ojo and T. O. Okunrounmu are Director of Research and a Deputy Director of Research, respectively in the Central Bank of Nigeria

Publication Title

CBN Economic and Financial Review





Recommended Citation

Ojo, M. O. & Okunrounmu, T. O. (1992). Why Fiscal Policies Matter in African Countries. CBN Economic and Financial Review. 30(4), 220-248.



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