Debt Management and National Development in Nigeria Under President Buhari’s Administration

Umeh, Chijioke Sunday; Inya, Eburu Nelson; Enechi, Marcel Onyebuchi

doi:10.70382/ajasr.v12i6.0122

Authors

Umeh, Chijioke Sunday (PhD) Department of Public Administration, School of Business and General Studies, Federal Polytechnic Ngodo-Isuochi, Abia State of Nigeria Author
Inya, Eburu Nelson Department of Public Administration, School of Business and General Studies, Federal Polytechnic Ngodo-Isuochi, Abia State of Nigeria Author
Enechi, Marcel Onyebuchi Department of Public Administration, School of Business and General Studies, Federal Polytechnic Ngodo-Isuochi, Abia State of Nigeria Author

Abstract

This study explored debt management and national development in Nigeria under President Buhari’s administration, 2015-2023. It sets to ascertain the impact of Nigeria’s debt profile, domestic and external debt servicing on national development under the administration. Expo-Facto research design was adopted, as well as secondary sources of data collection. The data collected were analysedqualitatively through content analysis. The study adopted the Fiscal IllusionTheory as its theoretical framework. Fundamentally, the study established that there was significant relationship between poor management of Nigeria’s debt profile, domestic/external debt servicing and national development under President Buhari’s administration. The researchers recommended that the federal government should formulate policies and programmes to straighten the Debt Management Office (DMO), as well as prioritize the management of Nigeria’s debt profile, to ensure that the country does not exceed her domestic and external borrowing liIit to enhance national development in the nation.