Social dimensions to sustainable macroeconomic stability in Nigeria

Abstract EN

Economic instability in many parts of the world has given rise to social tension and political instability and has led to increased interest in the social dimension to macroeconomic policy as a way of ensuring sustainable development.

Nigeria has made concerted policy efforts since 1999 at reducing all forms or causes of poverty.

However, the issue for determination in this paper is to what extent have these policy agendas affected the Nigerian poor and in what ways can the social dimension be mainstreamed into macroeconomic policies to ensure sustainability and stability over time ? Judged against various development indicators, the paper concludes that much still needs to be done in Nigeria to attain sustainable macroeconomic stability which is defined as an economic environment that brings enduring employment gains and poverty reduction, and which provides greater equality of income through greater equality of opportunity for all classes of people.