A CRITICAL EVALUATION OF NIGERIA’S DEBT/MANAGEMENT/POLICIES
BEING A PROJECT SUBMITTED TO
THE DEPARTMENT OF ACCOUNTING, FACULTY OF MANAGEMENT SCIENCES,
EKITI STATE UNIVERSITY,
ADO EKITI,
NIGERIA
IN PARTIAL FULFILLMENT OF
THE REQUIREMENTS FOR THE AWARD OF BACHELOR OF SCIENCE (B.Sc) DEGREE
(HONS.) IN ACCOUNTING
ABSTRACT
Nigeria, the giant of Africa is at mercy of her creditors for meaningful
economic worthiness of goodwill or both. It therefore calls for urgent
appraisal.
This project focuses on Nigeria’s debts, cause, problem and
prospects in one axis. At another angle, it evaluates some of the debt
management policies put in place so far and proffers solution/recommendations
geared towards nailing the debt saga to a halt.
This work no doubt will benefit individuals, groups
and others in all forms of its reunifications.
TABLE OF
CONTENT
Title page i
Certification ii
Dedication iii
Acknowledgment iv
Abstract v
Table of content vi
CHAPTER ONE: INTRODUCTION
1.1 Background of the Study 1
1.2 Statement of the Problem 4
1.3 Objectives of the Study 5
1.4 Significance Of The Study 6
1.5 Definition of terms 7
1.6 Scope of the work 8
1.7 Limitation of the study 8
1.8 Organization of the study 9
References 10
CHAPTER TWO: LITERATURE
REVIEW
2.1 Historical Perspective of Nigeria’s Debt 11
2.2 Structure Of Nigeria’s Debt 15
2.3 The Implication Of Nigeria’s Debt
Burden 17
2.4 Major Causes Of Nigeria’s Debt 20
2.5 Debt Management Strategies
Adopted By the
Nigeria’s Government 26
2.6 The origin of Debt
Conversion 46
2.7 Background of Nigeria Debt
Conversion Programme 47
2.8 Mode of Debt Conversion 49
2.9 Conversion Procedure 50
2.10 Problem and Prospects Debt
Management in Nigeria
55
2.11 Prospect for effective Debt
Management 59
References 62
CHAPTER THREE: RESEARCH
METHODOLOGY
3.1 Introduction 65
3.2 Population of the Study 66
3.3 Sampling Procedures 66
3.4 Data Collection 67
3.5 Method of Analysis 68
CHAPTER FOUR: DATA
PRESENTATION, ANALYSIS AND
INTERPRETATION
4.1 Introduction 69
4.2 Data Needed and Its
Interpretation 69
4.3 Discussion of Findings 83
CHAPTER FIVE: SUMMARY, CONCLUSION & RECOMMENDATION
5.1 Summary 91
5.2 Conclusion 93
5.3 Recommendations 96
Bibliography 101
Appendix 104
Questionnaire 105
CHAPTER ONE
INTRODUCTION
INTRODUCTION
1.1
BACKGROUND TO THE STUDY
Most economics especially those in the third
world have at one time of the other experienced short fall between domestic
savings and derived level of expenditure. External borrowings have often been 
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