The study looked at how different factors like money supply, government deficit, interest rates, and output affect prices in Nigeria from 1970 to 2010. They found that in the short term, money supply affects inflation, government deficit affects prices, output affects inflation, and interest rates affect inflation. In the long term, there is a two-way relationship between money supply and prices, as well as between prices and interest rates. This suggests that Nigeria's fiscal policy has been pro-cyclical, leading to public deficits. It's important for policymakers to create rules for fiscal conduct to manage budgets effectively and stabilize the economy.