Nigeriaas Debt Burden and Development Tangle

Peter. A. Oti

Nigeriaas Debt Burden and Development Tangle

Peter. A. Oti * §

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University of Calabar, Calabar,Nigeria

Nigeriaas Debt Burden and Development Tangle

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Abstract

The main purpose of this research is to empirically ascertain the nexus of Nigeria’s debt burden and development tangle. In order to embark on this exercise, relevant data were sourced from Central Bank of Nigeria statistical bulletin and National Bureau of Statistics fact book spanning the years . The Johansen test for the co-integrating association corroborates that a long run dynamic equilibrium link exists between economic development and debt stocks, and the Granger Causality result shows that the various debt stocks granger caused the performance of the Nigeria’s economy. On the basis of our findings and conclusion thereof, and in the light of the need to encourage and promote economic development, a strategy that exercises tense embargo on fresh loans and advances should be put in place and the government should try by all means to reduce the quantum of public debt as well as its total eradication via debt buy back, total cancelling of the debt or complete repudiating of the debt stock. Policies that will promote increase in the volume of commodities export should be put in place by the government, which will boast earnings from foreign exchange and hence help to eliminate the huge deficit in the revenue account of the federation.

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Peter. Oti. 2016. "Nigeriaas Debt Burden and Development Tangle". Global Journal of Management and Business Research, Global Journal of Management and Business Research - B: Economic & Commerce GJMBR-B Volume 16 (GJMBR Volume 16 Issue B6).

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GJMBR Volume 16 Issue B6

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Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

Keywords

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Classification

GJMBR-B Classification JEL Code: H60

Submission ReceivedDecember 15, 2015
Peer Review Double Blind
Handling Editor
Accepted January 3, 2016
Published January 15, 2016

Version of record

v1.2

Issue date

October 22, 2016

Language

English

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Article Matrices

Total Score: 149

Country: Nigeria

Subject: Global Journal of Management and Business Research

Authors: Peter. A. Oti, Ferdinand. I. Odey, (PhD/Dr. count: 0)

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Publish Date: 2016 01, Fri

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