Monetary Policy Variables Relevance on Balance of Payments Adjustment in Nigeria 1980-2020

This study examines monetary policy relevance on the Nigerian balance of payments adjustment, form 1980-2020. Objectives are; to examine variables such as Exchange rate, Inflation Balance trade, Real Gross Domestic Product and Credit adjustment. Evaluate significant speed adjustment within period under study. The employed following advanced econometric techniques; Augmented Dickey-Fuller (ADF) Phillips-Perron (PP) tests, chow test, ECM model OLS model, statistical tests & Co-integration test. Based above techniques conducted, it was observed that group unit root test result shows used in became stationary after first differenced at degree order one I(I). There is (long run relations) among Our results indicated rejection two null hypotheses this acceptation alternative three said; trade have significantly years adjust economy researcher recommends that; need manage domestic liquidity wisely view tremendous pressure excess money. A determined effort mobilize resources through private saving implementation a prudent fiscal efficient collection tax revenues, rationalization government expenditure towards growth enhancing poverty reduction programmes will also enable pursue its development programs without having rely monetization budget deficit. Overall concentration tools solely should be reduced employ other instruments correct payment fluctuation. cautious deficit are often time financed by internal borrowings.