THE EFFECTIVENESS OF MONETARY POLICY IN CONTROLLING INFLATION IN NIGERIA

THE EFFECTIVENESS OF MONETARY POLICY IN CONTROLLING INFLATION IN NIGERIA

ABSTRACT

This research work was embarked to aid you to study the effectiveness of monetary policy in controlling inflation in Nigeria. The need to the study was informed by the tend inflationary growth over the years and also the impact of the inflation in achievement of the four basic economic growth, price, stability, high level of employment and low inflationary rate for favourable balance of payment. Many research works have been carried out on this issue previously but despite all the good policies of government and its agent, these goals have remained elusive over the years. There was therefore a need for a study on these sensitive issues. For the purpose of this study, data was gathered through the secondary source, which includes money supply, gross domestic product and the inflationary rate for a period.

TABLE OF CONTENT

CHAPTER ONE

Introduction                                                                                      1

1. Statement of problem                                                    2
2. Research question                                                                   4
3. Definition of the term                                                    4
4. Objectives of the research                                              6
5. Scope of the study                                                                   7
6. Limitations of study                                                      8

CHAPTER TWO

An overview of Nigerian monetary policy                              11

2.1 Administration of monetary policy                                             13

2.2 Objectives of monetary policy                                           14

2.3 Instruments of monetary policy                                        15

2.5 Inflation in Nigeria                                                            18

2.6 Types of inflation                                                              20

2.7 Causes of inflation                                                            21

2.8 Monetary policy as control measure in Nigeria                          25

CHAPTER THREE

Research design and methodology                                          29

3.1 Sources of secondary data                                                 29

3.2 Method of investigation                                                    30

3.3 Sampling procedure                                                          30

CHAPTER FOUR        

4.1 Conclusion/recommendation                                             31

4.2 Recommendation                                                               31

Bibliography                                                                  33

THE EFFECTIVENESS OF MONETARY POLICY IN CONTROLLING INFLATION IN NIGERIA