Abstract

http://ssrn.com/abstract=1804233
 


 



The Nigerian Debt Problem: Causes, Consequences and Option


Emma Ik Okoye


Nnamdi Azikiwe University - Department of Accountancy

April 6, 2011

African Banking & Finance Review, Vol. 1, No. 1, June 2000

Abstract:     
In the-early periods of 1980's, debt and its management, causes and consequences were hardly subjects of immense national concern. During that period, Nigeria was considered under borrowed by the international financial community and most creditors were eager and willing to lend to Nigeria. According to Ahmed (1986), the size and burden of Nigeria external debt was insignificant from 1971 to 1977. Nigeria’s external debt stood at N4998.8 milion ($684.3 million) at the rate of $1.40 per naira. It thereafter declined to N234.5 million (US 308.9 million) in 1971, at the rate of $1.32 per naira; and rose gradually to N496.9 million (US $762.9 million) at the end of 1977 which is $1.544 per naira.

Number of Pages in PDF File: 11

Keywords: Nigerian Debt Problem, Causes, Consequences

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Date posted: April 6, 2011 ; Last revised: April 9, 2011

Suggested Citation

Okoye, Emma Ik, The Nigerian Debt Problem: Causes, Consequences and Option (April 6, 2011). African Banking & Finance Review, Vol. 1, No. 1, June 2000. Available at SSRN: http://ssrn.com/abstract=1804233 or http://dx.doi.org/10.2139/ssrn.1804233

Contact Information

Emma Ik Okoye (Contact Author)
Nnamdi Azikiwe University - Department of Accountancy ( email )
Awka, Anambra 23400
Nigeria
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