The International Institute for Science, Technology and Education (IISTE)
Abstract
This paper investigates some of the issues that necessitated the country to go into external borrowing. Some of the challenges facing the economy which is evidential today are caused by mismanagement or mishandling of external loan. Consequently, the study proffered some solutions on how to manage Nigeria’s external debt, thereby highlighted some policy measures that if implemented would accelerate the level of economic growth and development and increase the standard of living of every citizen which among other reasons are the core motives of borrowing externally
