|
|||||||||||||||||||||||||||||||
| . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . |
|
||||||||||||||||||||||||||||||
Economic Policy of the Government |
|||||||||||||||||||||||||||||||
Since coming into office in May 1999, and being democratically re-elected for a second term in May 2003, the government of President Olusegun Obasonjo has initiated policies that lay the foundation for sustained socio-economic growth. The administration has restored macroeconomic stability by restricting extra- budgetary expenditure, tightened monetary policy which has led to a reduction in inflation, introduce structural reforms which include the privatization of the major utilities, and liberalization of key sectors including power and telecommunications, to promote competition and improve efficiency. Legal and regulatory frameworks and regulatory bodies have been established for these sectors. Efforts are also being made to reform the budget and public expenditure management process, and improve economic management. Government’s economic policy has been guided by the following principles:
|
|||||||||||||||||||||||||||||||
SECTORAL POLICIES |
|||||||||||||||||||||||||||||||
Government has continued to implement sectoral and structural policy measures geared towards attaining short, medium and long-term goals of improved economic growth, external sector competitiveness and poverty reduction. However, special emphasis has been accorded the following areas: |
|||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||
| Disclaimer | Contact Us | Home | Last Updated: 19 March, 2007 12:48 PM © 2007 Ministry of Foreign Affairs, Federal Republic of Nigeria |
|||||||||||||||||||||||||||||||