Debt
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External Loan: One Step Forward, Many Step Backward for Socio-Economic Development in Nigeria
Abstract: The paper focuses attention on the negative impact of external loan on the Nigerian socio-economic development. The desire for rapid socio-economic development at independence forced the leaders of the first republic to collect one form of loan or the other in order to improve the nation’s infrastructure. In the 1970’s the oil boom re-positioned Nigeria as one of the rich and potential countries destined for rapid socio-economic development. Unfortunately, the …
Published in Journal of Production Research & Management · Vol. 4, Issue 3, 2014 · pp. 15–22 Read article