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Policy-based External Loan and the Nigerian Economy.

Authors: OSUNDINA Olasunkanmi

Publication Type: Journal article

Journal: Journal Of Research And Development

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Abstract

The study investigated policy-based External Loan (EL) on the Nigeria Economy. It adopted a content data analysis based on secondary data sourced from Debit Management Office, National Bureau of Statistics, Central Bank of Nigeria, Economical and Financial review and relevant publication from Nigeria on variable like foreign assistance, policy on economic development, and debt overhang among others. The finding indicates that external debt burdens and constraint the Nigeria economy promoting poverty ridden society, unemployment, inflation and associated health related diseases. Consequently, study established that in as much as corrupt practices tails the political system, and as long as Nigeria economy is largely driven by government expenditure, exploit on loan will be detrimental. Hence, EL has failed to leverage the political economy system of Nigeria because of external influence and internal connivance from leaders. Based on the finding the study suggest that a review on policy-based EL be done to extricate Nigeria economy from the lender’s trap, tackle the menace of corruption; control government expenditure and source alternative measure to generate revenue away from loan for economic development.

Key words: External Loan, Debt, Policy-based, Economic Development, Nigeria

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OSUNDINA,O. . (2014). Policy-based External Loan and the Nigerian Economy., 2 (), 11-11.

OSUNDINA,O. . "Policy-based External Loan and the Nigerian Economy." 2, no (), (2014): 11-11.

OSUNDINA,O. and . (2014). Policy-based External Loan and the Nigerian Economy., 2 (), pp11-11.

OSUNDINAO, . Policy-based External Loan and the Nigerian Economy.. 2014, 2 ():11-11.

OSUNDINA,Olasunkanmi , . "Policy-based External Loan and the Nigerian Economy.", 2 . (2014) : 11-11.

O.Olasunkanmi , "Policy-based External Loan and the Nigerian Economy." vol.2, no., pp. 11-11, 2014.

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