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Though in recent times, the Central Bank of Nigeria has tried to make use of monetary policy; but despite the increasing emphasis on the manipulation of monetary policy in Nigeria, the macroeconomic problems still persist. Thus, in order to determine whether monetary policy monetary policy has any impact on the Nigerian economy, four monetary policy instruments were tested against Gross Domestic Product. The analytical technique used is simple regression analysis while the student t-test wasdoi:10.5281/zenodo.3455949 fatcat:bu6wdvoc2jdh5bwzk7zz6t22uy