Debt Management and Economic Development in Nigeria, 2015-2019

Debt management has become a critical issue in Nigeria's economic development, with thecountry's debt portfolio experiencing significant growth between 2015 and 2019. Theeffectiveness of the Debt Management Office's loan regulations in promoting responsibleborrowing practices and mitigating currency volatility has been a subject of debate. Thus, wehave posed the following research questions; Did DMO's loan regulations promote responsibleborrowing practices in Nigeria between 2015 and 2019? Did the diversification of debt portfolioincrease currency volatility in Nigeria? This project will be analyzed with the use of dependencytheory. An ex-post-facto research design will be used to understand the DMO's role in promotingresponsible borrowing practices, and the diversification of Nigeria's debt portfolio in relation tocurrency volatility. A documentary method of data collection and a qualitative descriptivemethod of analysis will be used in analyzing the research findings. Key findings reveal thatNigeria's debt management practices have been influenced by external forces which have in turnhindered its economic development. This research provides valuable insights into strengtheningof the DMO regulations in order to enforce debt sustainability rules, ensure transparency andestablish a monitoring framework. The study underscores the need for reduction of currencyfluctuations by the government through limiting foreign dominated loans and prioritizingconcessional loans.