Author Description

The book lays the foundation for continuous documentation of the story of Nigeria’s public debt. It is unique in starting from the country’s very beginnings around 1900, and in covering a period of 118 years, which includes both periods before and after the country’s institutionalization of public debt management in 2000. The investigation, analysis and narration of the challenges, mistakes, successes, and implications of Nigeria’s public debt policies, strategies, and practices, over a period of nearly twelve decades, produce findings for learning lessons to shape future policies, strategies, and practices, not only for Nigeria but also for all less developed economies. The key findings include: political leadership is a decisive factor for public debt sustainability; a well-functioning debt management institution capable of mobilizing funds from the markets could be a curse when combined with irresponsible political leadership and a profligate fiscal authority. The book will be an incisive textbook and reference material for students, scholars and professionals of economic thought, economic history, public finance, public debt, public administration, political science, and sociology. It will also be a great asset to policy makers and the general public.