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

CHAPTER ONE 
INTRODUCTION
 1.1 BACKGROUND OF THE STUDY
 For sometime now, “monetization” has become a household word in Nigeria, especially in the public sector. A lot of discussions have been made about this concept in relation to its meaning, nature, implementation and benefits to public servants and the government as well as its economic implementations. But, one thing is certain: government means well by designing and implementing this policy (Oduenyi, 2006:23). Its conceptualization is traceable to the National Economic Empowerment and Development Strategy initiative of the Federal Government (Ugbaja, 2005:2). The National Economic Empowerment and Development Strategy (NEEDS) was formulated by the Obasanjo administration in response to the mirage of social, economic and political problems confronting the country. The document identified bottlenecks to sustainable economic growth and development of the economy with strategies and workable policies and measures carefully formulated and meant to be implemented in stages in such a way that the economy would not experience undue pressure. The ultimate goal is the liberalization of the economy from age-long structured impediments. One of the polices therein is monetization of fringe benefits of all categories of public service employees (Chukwu, 2006:2002). The monetization policy is an Act of parliament that came into existence with the enactment of certain political, public and judicial office Holders Act of 2002 and was later extended to cover all federal civil servants. It is on record that many top public officials maintained a fleet of official vehicles in their offices and homes. Similarly, telephone, electricity and other public utility services in the official quarters of public servants maintained by government were open to various forms of abuse and misuse. One main consideration underlying the implementation of the monetization policy is the desire to reduce the pressure on public resources, arising from government’s involvement in the physical provision of fringe benefits (Odife, 2005:2). Thus, it is expected that monetization will curb the excesses of public officers as Government will no longer provide chauffeur – driven cars and furnished quarters for public officials, correct the wrong perception of government utilities as services provided with limitless resources and positively impact on our national value system and ethics. It is also expected to have far – reaching impact on Government planning budgeting and discipline. In addition, it is expected to reduce the tendency for corruption by offering public servant higher wages, bonuses and improved working condition (Biodun, 2005:18). Consequently, Government introduced the monetization programme, on the conviction that the policy will reduce to the barest minimum, such negative fiscal tendencies as waste and abuse of public facilities. Against this background, this study will attempt to examine and determine that economic effects of the implementation of this policy on the Nigerian economy with a view to finding out, if any, the possible negative effects on employment inflation and workers productivity as well as the informal sector activities.

Project detailsContents
 
Number of Pages85 pages
Chapter one Introduction
Chapter two Literature review
Chapter three  methodology
Chapter  four  Data analysis
Chapter  five Summary,discussion & recommendations
ReferenceReference
QuestionnaireQuestionnaire
AppendixAppendix
Chapter summary1 to 5 chapters
Available documentPDF and MS-word format


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