Economic and Financial Review


Central Bank of Nigeria


Government programmes, Economic downturn, Theoretical issues, Adjustment programmes, Macroeconomic stability, Foreign direct investment


The purpose of this paper is to articulate the theoretical issues and perspectives which underscore the need for caution in financing government programmes whether in the recurrent outlay or capital programmes as individual financing modes have built in costs and risks that could inhibit the realisation of government objectives.

Author Bio

Professor Akpan H. Ekpo is the Director General, West African Institute for Financial and Economic Management (WAIFEM), Lagos.

Publication Title

CBN Economic and Financial Review





Recommended Citation

Ekpo, H.A. (2015). Financing government programmes in economic downturn: theoretical issues and perspectives. CBN Economic and Financial Review. 53(4), 9-29.



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