IIARD International Institute of Academic Research and Development

INTERNATIONAL JOURNAL OF SOCIAL SCIENCES AND MANAGEMENT RESEARCH (IJSSMR )

E-ISSN 2545-5303
P-ISSN 2695-2203
VOL. 2 NO. 1 2016

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Challenges of Policy Implementation in Nigeria: A Case of Monetization Policy

Nick A. Obodo, Ph.D. FNIM, FIPA, FCAI

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Abstract

This study is a review of the challenges of policy implementation in Nigeria with particular reference to the case of monetization policy. The paper adopted theoretical model that hinged on input-output models and analysis of observed cases as its methodology. The findings inter-alia was that the aim of the policy had not been realized as it had not succeeded in reducing the cost of governance. Secondly, effective implementation of the policy was hampered by the paucity of funds. Thirdly, poor planning, corruption and poor mobilization of funds added to lack of political-will were the causes of the failure in implementation of the policy and other policies of government. As a remedy, it is recommended, among others, that for the full realization of the policy, its implementation ought to have been staggered for convenience of funding and monitoring; that for the policy to have the desired impact on the economy, it must be all- inclusive at both state and local government levels, and also the private sectors. However caution should also be exercised in the threatened retrenchment of staff as it could exacerbate the level of unemployment and poverty in the country.

keywords:

Monetization policy, Policy implementation, Poor planning, Corruption, Political-will.

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