Problem or Solution: Data on Sub-National Debt for Infrastructural Development in Nigeria

Kingsley Imandojemu

World Economics, 2017, vol. 18, issue 2, 139-166

Abstract: Nigeria has witnessed a substantial rise in sub-national debt at the state level in an economy characterised by infrastructural decay and macro-economic imbalance. The mismanagement of sub-national debt in Nigeria has culminated in the inability of most states to meet their daily obligations. Secondary data sourced from the Central Bank of Nigeria and the Debt Management Office shows that external indebtedness of the states grew from US$2 billion to US$3.4 billion between 2010 and 2015, a rise of 68.4%. Sub-national debt has been identified as a conduit for embezzlement. A more sustainable approach to infrastructure financing should be the adoption of a public-private partnership (PPP) approach.

Date: 2017
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