The connection between public expenditure and inflation in Nigeria
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
The connection between public expenditure and inflation in Nigeria
Nigeria, like many other developing countries, has faced significant challenges related to inflation and public expenditure. In this essay, I will explore the connection between public expenditure and inflation in Nigeria.
Public expenditure refers to the spending by the government on goods and services, such as infrastructure, education, health, defense, and social welfare programs. Public expenditure can be financed through various means, including taxation, borrowing, and printing money.
Inflation, on the other hand, refers to the sustained increase in the general price level of goods and services in an economy over time. Inflation is measured using the consumer price index (CPI), which tracks the average price changes of a basket of goods and services consumed by households.
The relationship between public expenditure and inflation in Nigeria is complex and multifaceted. On the one hand, public expenditure can stimulate economic growth and development, leading to increased employment, higher incomes, and improved living standards. This, in turn, can boost demand for goods and services, leading to higher prices and inflation.
On the other hand, excessive public expenditure can lead to fiscal imbalances, increased borrowing, and higher inflation. When the government spends more than it collects in revenue, it must borrow or print money to finance its operations, leading to an increase in the money supply. This, in turn, can lead to inflation as more money chases the same amount of goods and services.
In Nigeria, the relationship between public expenditure and inflation has been complicated by various factors, including political instability, corruption, and weak fiscal management. The country has a history of large fiscal deficits, high debt levels, and significant reliance on oil revenue, which has made it vulnerable to external shocks and fluctuations in oil prices.
In recent years, Nigeria has implemented various fiscal and monetary policies to address inflation and public expenditure. For instance, the Central Bank of Nigeria has raised interest rates and tightened monetary policy to curb inflation, while the government has introduced various fiscal reforms, including the Treasury Single Account (TSA) and the Integrated Payroll and Personnel Information System (IPPIS), to enhance transparency and accountability in public expenditure.
Despite these efforts, Nigeria still faces significant challenges related to inflation and public expenditure. The country’s inflation rate has remained high, averaging 14.2% in 2021, while public expenditure continues to outstrip revenue, leading to mounting debt levels and fiscal imbalances.
In conclusion, the connection between public expenditure and inflation in Nigeria is complex and multifaceted. While public expenditure can stimulate economic growth and development, excessive public expenditure can lead to fiscal imbalances, increased borrowing, and higher inflation. Nigeria’s history of political instability, corruption, and weak fiscal management has made it vulnerable to external shocks and fluctuations in oil prices, leading to significant challenges related to inflation and public expenditure. Addressing these challenges will require sustained efforts to enhance transparency and accountability in public expenditure, strengthen fiscal management, and diversify the economy away from its reliance on oil revenue.
The connection between public expenditure and inflation in Nigeria
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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