ECONOMIC EFFECTS OF MONETIZATION POLICY IN THE PUBLIC SERVICE OF THE NIGERIAN ECONOMY

ECONOMIC EFFECTS OF MONETIZATION POLICY IN THE PUBLIC SERVICE OF THE NIGERIAN ECONOMY

ABSTRACT

The aim of this study titled “The Economic Effects of Monetization Policy in the public service” was to examine the rationale for the implementation of the monetization as well as determine how the policy affects the general price level, unemployment, workers’ income and standard of living. To achieve this aim, a survey of some selected Federal government establishments were carried out. Data was collected from both primary and secondary sources. The data were presented in tables as frequency distribution. In analyzing the data, the statistical techniques of frequency and percentage were applied.  The major findings of the study were the rationale for the monetization policy was the wasteful use of government resources by public officials. The objective of the policy was to promote efficient utilization of government’s properties and resources. The economic effects of monetization policy include increase in money supply and income of workers, as well as unemployment level. The conclusion drawn is that although the policy increased money supply but there is no evidence to show that it brought about increase in the general price level.