Central Bank of Nigeria, Research Department
Oil revenue, Fiscal policy, Oil Industry, Non-oil deficit
This is a review of a study which identified uncertainties about the size of oil reserves, cost of extracting oil and the future path of oil prices as some of the factors that pose long run challenges for fiscal policy. Accordingly, one of the functions of government is to allocate resources (government wealth, oil inclusive) equitably and efficiently. How to do this however, poses a challenge to fiscal policy.
Omanukwue, P.N. (2003). What goes up by (S. Barnet and R. Ossowski, Finance and Development: Vol. 40, No. 1 March 2003): a review. Economic and Financial Review, 41(1), 160-166.