International Journal of Social Science & Economic Research
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Title:
EFFECT OF PUBLIC DEBT ON POVERTY REDUCTION IN NIGERIA: EVIDENCE FROM HIGHLY INDEBTED COUNTRY

Authors:
Nanfa Nimvyap , Ajang Janet Daniel , Timnan Bindap Ndam , Azi Istifanus Madaki ,Diemsan Attah Ambrose , Magit Ezekiel Dawel and Janet Onayi Salami

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Nanfa Nimvyap1 , Ajang Janet Daniel2 , Timnan Bindap Ndam3 , Azi Istifanus Madaki4 ,Diemsan Attah Ambrose5 , Magit Ezekiel Dawel6 and Janet Onayi Salami7
1&2. Department of Economics, Plateau State University Bokkos, Plateau State, Nigeria
3&6. Department of Economics, University of Jos, Jos, Plateau State, Nigeria
4. Jinhe Center for Economic Research (JCER), Xi'an Jiaotong University, China
5. Ph.D. Student Department of Economics, Federal University Lafia, Nasarawa State, Nigeria
7. Department of Accounting, University of Jos, Jos, Plateau State, Nigeria

MLA 8
Nimvyap, Nanfa, et al. "EFFECT OF PUBLIC DEBT ON POVERTY REDUCTION IN NIGERIA: EVIDENCE FROM HIGHLY INDEBTED COUNTRY." Int. j. of Social Science and Economic Research, vol. 8, no. 6, June 2023, pp. 1316-1331, doi.org/10.46609/IJSSER.2023.v08i06.009. Accessed June 2023.
APA 6
Nimvyap, N., Daniel, A., Ndam, T., Madaki, A., Ambrose, D., Dawel, M., & Salami, J. (2023, June). EFFECT OF PUBLIC DEBT ON POVERTY REDUCTION IN NIGERIA: EVIDENCE FROM HIGHLY INDEBTED COUNTRY. Int. j. of Social Science and Economic Research, 8(6), 1316-1331. Retrieved from https://doi.org/10.46609/IJSSER.2023.v08i06.009
Chicago
Nimvyap, Nanfa, Ajang Janet Daniel, Timnan Bindap Ndam, Azi Istifanus Madaki, Diemsan Attah Ambrose, Magit Ezekiel Dawel, and Janet Onayi Salami. "EFFECT OF PUBLIC DEBT ON POVERTY REDUCTION IN NIGERIA: EVIDENCE FROM HIGHLY INDEBTED COUNTRY." Int. j. of Social Science and Economic Research 8, no. 6 (June 2023), 1316-1331. Accessed June, 2023. https://doi.org/10.46609/IJSSER.2023.v08i06.009.

References

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ABSTRACT:
The concern of public borrowing rising all over the world has suffered by numerous developing countries. This has attracted global attention recently amid a shortfall in revenue generation to meet up the desired government expenditure. Based on this, the paper examines the effect of public debt on poverty reduction in Nigeria; assessed the effect of external, domestic, and debt servicing in Nigeria. Secondary time series data spanning the period of Twenty-one years (2000– 2021) was gathered in the study. The data used in the study was estimated using descriptive statistics, correlational matrix, and Error Correction Mechanism (ECM). Discoveries from the result revealed that external debt exerts a positive and significant effect on poverty alleviation in Nigeria, while domestic debt and debt servicing had an inverse and significant relationship with poverty reduction in Nigeria as well. The empirical evidence reveals that there is a co-integration between public debt and poverty alleviation in Nigeria. Based on these findings, the paper recommends that; to achieve a significant reduction in poverty in Nigeria, the government should examine and review current policies and incentives of external borrowing in Nigeria and the current administration needs to mobilize domestic savings efforts to tackle the nuisance of poverty in Nigeria.

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