Debt management for sustainable infrastructure development: a systematic review
DOI:
https://doi.org/10.5281/zenodo.8079041Keywords:
debt management, Infrastructure development, Gross domestic product, strategyAbstract
Public debt managers coordinate public borrowing and ensure a consistent, sustainable, and methodical debt management practice. Nigeria has been borrowing from sources that include multilateral, bilateral, and commercial lenders in a bid to fill its infrastructural gap. As of 2022, Nigeria’s public debt stood at US$101.9 billion which comprised US$62.2 billion in domestic debt and US$39.6 billion in external debt. However, despite the loans contracted over the years, there is an observed gap between her accumulated debt and the level of infrastructural development. The study, therefore, investigated debt management in Nigeria and its imperative for sustainable infrastructural development. The study employed a mixed-methods design. SPSS-based inferential statistics and content analysis were employed in data analysis. The study found that public debt management has no significant effect on sustainable infrastructural development in Nigeria (β = 0.002, t (198) = 0.040, p > 0.05. The study concluded that public debt management has no significant effect on sustainable infrastructural development in Nigeria. The National Assembly and the Federal Ministry of Finance should ensure that newly contracted external loans are tied to specific projects. The Federal Ministry of Finance in conjunction with the debt management office should create a special purpose vehicle for packaging domestic infrastructure bonds.
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