Comprehensive Study on Fiscal Policy and National Development: The Nigerian Context and Comparative Perspectives

Fiscal policy is a pivotal instrument in achieving national development, particularly in resource-constrained economies. It encompasses revenue generation, expenditure allocation, and fiscal accountability mechanisms to address economic imbalances, foster equitable growth, and ensure sustainable development. This study examined the nexus between fiscal policy and national development, emphasizing the theoretical, empirical, and practical dimensions of fiscal frameworks.Using a qualitative research approach, the study analysed Nigeria’s fiscal challenges and compares its fiscal strategies with those of South Africa and Rwanda. The findings reveal that while Nigeria struggles with fiscal discipline and dependency on volatile oil revenues, South Africa and Rwanda exhibit stronger fiscal governance and targeted expenditures that promote inclusive growth. This research provides practical recommendations for policymakers, emphasizing the need for fiscal reforms tailored to Nigeria’s socio-economic context. By leveraging fiscal policy effectively, Nigeria can achieve sustainable economic growth and improved development outcomes.