PUBLIC DEBT MANAGEMENT IN NIGERIA
PUBLIC DEBT MANAGEMENT IN NIGERIA
| dc.contributor.author | ISYAKU, ALIYU | |
| dc.date.accessioned | 2014-03-11T09:15:48Z | |
| dc.date.available | 2014-03-11T09:15:48Z | |
| dc.date.issued | 1997-10 | |
| dc.description | Being a Research Project submitted to the Postgraduate Ahmadu Bello University, Zaria in partial fulfillment of the requirements for the award of the Degree of Masters in Business Administration (MBA). | en_US |
| dc.description.abstract | Debt can provide a healthy source of funding economic developments if proceeds are wisely used and economic benefits exceeds costs of debt service. Unfortunately, Nigeria has mismanaged her debt - both external and domestic - and this has created a vicious and debilitating cycle, which we may refer to as a debt trap. As at 1995, Nigeria's internal debt burden reached N415.9 billion. On the external debt front, Nigeria currently owes about $30 billion (including arrears) which roughly equals GDP and requires about 40% of total export earnings to service. Given the present state of the economy and Nigeria's erratic track record in settling external obligations, this debt burden cannot be supported. Furthermore, it is responsible for several side effects such as: * reduced inflow of foreign direct investment, * reduced short term credit lines (by banks and suppliers), and development financing funds (by export credit and multilateral lenders), * damaged external credibility in the eyes of foreign creditors and danors, * lax fiscal management and discipline, resulting in inflationary pressures * capital flight and speculations against the Naira, and * persistent and rapid devaluation of the Naira. The methodlcgy used for the purpose of collecting data for this sutdy was purely secondary, the method of analysis is descriptive. It is clear that Nigeria needs to pursue debt relief rather than continue with debt rescheduling, which only postpones the inevitable. It is also clear that Nigeria's external credibility and past tract record make it imperative to develop a medium term strategy acceptable to external creditors and implementing the required policy reforms with the degree of discipline and transparency which will rebuild external support and confidence. In addition to negotiating the required IMF standby, Paris club negotiations will need to be approached with full recognition of the commitments necessary to qualify for Toronto, Enhanced Toronto or Trinidad terms. We certainly face an uphill negotiating task and must negotiate in the expectation that debt relief must be earned and will be received only after successful performance has been achieved. Debt relief will require successful implementation of an acceptable medium term economic reform programme over a period of two or three years. | en_US |
| dc.identifier.uri | http://hdl.handle.net/123456789/3684 | |
| dc.language.iso | en | en_US |
| dc.subject | PUBLIC, | en_US |
| dc.subject | DEBT, | en_US |
| dc.subject | MANAGEMENT, | en_US |
| dc.subject | NIGERIA | en_US |
| dc.title | PUBLIC DEBT MANAGEMENT IN NIGERIA | en_US |
| dc.type | Thesis | en_US |
Files
Original bundle
1 - 1 of 1
No Thumbnail Available
- Name:
- PUBLIC DEBT MANAGEMENT IN NIGERIA.pdf
- Size:
- 7.19 MB
- Format:
- Adobe Portable Document Format
- Description:
License bundle
1 - 1 of 1
No Thumbnail Available
- Name:
- license.txt
- Size:
- 1.58 KB
- Format:
- Item-specific license agreed upon to submission
- Description: