Assessing the Role of Fiscal Policy Integration in Promoting Economic Diversification in Nigeria
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style:
- Recommended for :
- NGN 5000
Background of the Study
Economic diversification is critical for reducing Nigeria’s overdependence on oil revenues and ensuring long-term economic stability. Fiscal policy integration, which coordinates revenue generation and public expenditure, is seen as a key driver of diversification (Adeyemi, 2023). By aligning fiscal tools to support emerging sectors, the government aims to redistribute economic activities away from traditional industries. Integrated fiscal policies can facilitate investments in agriculture, manufacturing, and technology, thereby broadening the economic base (Okoro, 2024). Moreover, fiscal integration promotes efficient allocation of resources and reduces distortions in the economy, which are essential for sustainable diversification (Balogun, 2025). The emphasis on diversification reflects the need to create resilient economic structures that can withstand global commodity price fluctuations and domestic shocks. This study investigates how fiscal policy integration can spur diversification by channeling funds into non-oil sectors, enhancing competitiveness, and promoting innovation. The research also examines the institutional challenges and opportunities associated with the integration process, thereby providing a comprehensive understanding of its impact on economic diversification (Adeyemi, 2023; Okoro, 2024; Balogun, 2025).
Statement of the Problem
Despite ongoing efforts to diversify the economy, Nigeria remains heavily reliant on oil revenues, exposing it to global price volatility and economic uncertainty. Inadequate fiscal integration and sector-specific challenges have hindered the reallocation of resources to emerging industries (Balogun, 2025). Moreover, policy fragmentation and implementation gaps reduce the effectiveness of diversification strategies, leaving structural vulnerabilities unaddressed. Without a coordinated fiscal framework, efforts to stimulate non-oil sectors are often piecemeal and unsustainable. This study aims to determine whether improved fiscal integration can overcome these obstacles and promote genuine economic diversification (Adeyemi, 2023; Okoro, 2024).
Objectives of the Study
- To assess the role of fiscal policy integration in promoting economic diversification.
- To examine the impact of integrated fiscal measures on the growth of non-oil sectors.
- To recommend policy adjustments to strengthen diversification efforts.
Research Questions
- How does fiscal policy integration influence economic diversification in Nigeria?
- What is the impact of integrated fiscal measures on non-oil sector growth?
- Which policy interventions can enhance economic diversification?
Research Hypotheses
- Fiscal policy integration positively affects economic diversification.
- Integrated fiscal measures stimulate growth in non-oil sectors.
- Improved coordination between fiscal agencies enhances diversification outcomes.
Significance of the Study
This study is significant as it explores the potential of fiscal policy integration to drive economic diversification in Nigeria. Its findings can inform strategies that reduce oil dependency, stimulate broad-based growth, and increase economic resilience (Okoro, 2024; Adeyemi, 2023; Balogun, 2025).
Scope and Limitations of the Study
This study is limited to evaluating the role of fiscal policy integration in promoting economic diversification in Nigeria. It exclusively focuses on fiscal policies without considering external economic influences.
Definitions of Terms
• Fiscal Policy Integration: The coordination of various fiscal tools to achieve coherent economic policies.
• Economic Diversification: The process of expanding an economy’s range of activities beyond a dominant sector.
• Non-oil Sectors: Industries in the economy that do not rely on oil, such as agriculture, manufacturing, and services.
Related Project Materials
An Investigation into the Role of Government Policies in Promoting Sustainable Aquaculture in Nigeria
Background of the Study
Aquaculture, the farming of aquatic organisms such as fish, shellfish, and aquatic plants, plays...
FACTORS AFFECTING HOUSING DELIVERY
ABSTRACT
Housing shortage is one of the most serious developmental challenges presently confronting Nigeria. Stakeholder...
An Examination of the Effects of Displacement on Traditional Leadership Structures: A Case Study of Monguno Local Government Area, Borno State
Background of the Study
Displacement caused by conflict has long-lasting effects on both individuals an...
Investigation into the Influence of Transportation Costs on Product Pricing in Nestlé Nigeria, Yobe State
Background of the Study
Transportation costs represent a significant portion of the total cost structure for many companies, particularly...
Development of a Smart Lecture Hall Booking System: A Case Study of Umaru Musa Yar’adua University, Katsina, Katsina LGA
Background of the Study
Efficient utilization of lecture halls is critical for academic scheduling and resource management...
TWITTER BAN IN NIGERIA: A SCANDAL TO DEMOCRACY
ABSTRACT
The basic aim of this study is to critically portray the erratic decision of twitter ban in Nigeria as...
An evaluation of risk management practices on credit quality in banking: a case study of Accord Microfinance Bank
Background of the Study
Risk management practices are fundamental to maintaining credit quality and ensuring the long-term...
The Effect of Professional Ethics on Nursing Practice in Katsina State
Background of the Study
Professional ethics are essential in nursing practice as they guide nurses' behavior, decision-making, and in...
An investigation of the impact of religious healing centers on psychiatric care in Aba South Local Government Area, Abia State.
Background of the study
Religious healing centers have traditionally played a significant role in addressing mental health...
AMELIORATIVE EFFECT OF RESVERATROL ON LEAD-INDUCED ORGAN TOXICITY IN WISTAR RATS
ABSTRACT
Resveratrol is a potent antioxidant found abundantly in grapes and in lesser quantities in peanuts, fruits and...
