Browsing by Author "Ahmed, Mahmoud"

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    APPRAISAL OF EXTERNAL RESERVE MANAGEMENT POLICY IN NIGERIA
    (Department of Public Administration, Nasarawa State University, Keffi., 2017-06-25) Ahmed, Mahmoud; Hussaini, Hassan Tukur
    External reserves are foreign currency deposits held by central Banks and monetary authorities which are held in different currencies. It is a measure of our ability to import the needed industrial capital goods and processed manufactured goods as well as movement of exchange rale. But the mono culture of the Nigerian economy has great implication in external reserve management policy due to the volatility of oil prices and uncertainty for exports. A fall in oil prices are considered as temporary, refusal to curtail expenditure and every windfall is regarded as a permanent phenomenon and engage in budget deficit. External reserves are taken as money to be spent immediately to meet the growing demand for domestic and imported goods and services which result to foreign exchange crises and dwindling of external reserves. These problems lead to accumulation of trade arrears, external debts and the inability to service debts. This paper recommends the diversification of the economy and establishment of agric based industries