The Exasperating Economic Misery in Nigeria: Can we Depend on Monetary Policy?

The core objective of this study was to detect the influence monetary policy on economic misery in Nigeria from 1991 2021. employed Granger causality test, autoregressive lag (ARDL) bounds test for cointegration, fully modified ordinary least squares, impulse response function, and variance decomposition analyzing data. From it realized that a one-way flows rate growth. ARDL cointegration validated existence long-run relationship between Nigeria. estimates, observed effect is positive significant. Furthermore, inflation has been significant, while unemployment negative but insignificant. function portrayed responded positively shocks short-run such being decomposed long-run. These findings therefore justify Central Bank Nigeria’s stance increasing tackle inflation, which will hitherto reduce