Paradox of rising debt with in a period of economic boom in Nigeria

Chinwe Regina Okoyeuzu, Anthony Igwe, Wilfred I. Ukpere

Research output: Contribution to journalArticlepeer-review


This paper critiques the excess borrowing of the Nigerian government. It argues that within the period of 2004-2011 oil prices were high leading to the introduction of excess crude account, yet, external borrowing equally heightened. It is a common view among policy makers and public finance experts that government should save in an era of boom to ensure fiscal sustainability. The presence of increasing oil price within the period has raised an important question on why should government borrow in an era of plenty. The paper raises questions about the implications of borrowing on the future generation.

Original languageEnglish
Pages (from-to)133-139
Number of pages7
JournalInternational Journal of Economic Perspectives
Issue number3
Publication statusPublished - Sept 2017


  • Debt
  • Government expenditure
  • Oil revenue
  • Unemployment rate

ASJC Scopus subject areas

  • Economics, Econometrics and Finance (all)


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