State Debt Management in Nigeria : Challenges and Lessons Learned
Drawing on the results of recent state-level debt management performance assessments (SN DeMPAs) in seven Nigerian states and the Federal Capital Territory, the paper highlights key institutional and capacity challenges in state debt management in the context of the Nigerian fiscal federalism system. It also provides a comparison of subnational debt management practices of selected Nigerian and Indian states. The analysis highlights the important role of the central government in the successful implementation of subnational debt management functions within fiscally decentralized system, in particular by: (i) establishing a sound legal framework for subnational borrowing and defining key parameters for state indebtedness; (ii) establishing, standardizing, and monitoring state-level debt-management procedures, systems, and institutions; and (iii) building the capacity of subnational authorities along the entire cycle of debt management, including for debt management strategy formulation, borrowing plans, debt contracting, recording and reporting. While this paper focuses on state-level debt management in Nigeria, it is designed to contribute to the ongoing dialogue on international sound practices for subnational debt management and implementation of fiscal decentralization in developing countries
Year of publication: |
2020
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Authors: | Garron Bozo, Jaime ; Lee, Yue Man ; Li, Ying ; Razlog, Lilia |
Publisher: |
2020: World Bank, Washington, DC |
Saved in:
freely available
Extent: | 1 Online-Ressource |
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Series: | MTI Discussion Paper ; No. 19 |
Type of publication: | Book / Working Paper |
Notes: | Africa Nigeria English |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10012568222
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