Debt Management Profile and National Development in Nigeria, 2015 – 2023

This study investigates the significance of revenue diversification in reducing poverty as well as the connection between accountability and transparency in government spending procedures and their effect on foreign direct investment (FDI) in Nigeria. The study is motivated by worries about Nigeria's economic difficulties, which include a high poverty rate, inadequate governance, and a significant reliance on crude oil. In order to comprehend how fiscal openness and economic diversification support sustainable national growth, the study makes use of the Debt Sustainability Theory as a framework. Using secondary data from government publications, journal articles, and reliable internet sources, the study uses an ex-post facto research design. The results show that greater accountability and openness in government financial management boost investor trust, which in turn increases foreign direct investment inflows. Mechanisms that enhance governance and draw in foreign investment include public expenditure applications, live budget tracking, and anti-corruption frameworks. However, attempts at accountability are still hampered by institutional weakness and political meddling. Additionally, the study shows that although diversification strategies in technology, tourism, and agriculture have produced new revenue streams, poverty has not been considerably decreased by them. The efficacy of these policies has been limited by structural problems like corruption, poor infrastructure, and restricted access to financial services. The research underlines the need for a more complete approach to economic governance, incorporating stringent legal frameworks, public-private partnerships, and digital financial management systems to promote policy execution.