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...

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Main Authors:	Razlog, Lilia, Lee, Yue Man, Li, Ying, Garron Bozo, Jaime
Format:	Working Paper
Language:	English
Published:	World Bank, Washington, DC 2020
Subjects:	DEBT DEBT MANAGEMENT SUBNATIONAL DEBT MANAGEMENT DEBT MANAGEMENT PERFORMANCE ASSESSMENT PUBLIC DEBT PUBLIC FINANCIAL MANAGEMENT FISCAL DECENTRALIZATION
Online Access:	http://documents.worldbank.org/curated/en/855871587999761270/State-Debt-Management-in-Nigeria-Challenges-and-Lessons-Learned http://hdl.handle.net/10986/33656

id	okr-10986-33656
recordtype	oai_dc
spelling	okr-10986-336562021-05-25T09:36:23Z State Debt Management in Nigeria : Challenges and Lessons Learned Razlog, Lilia Lee, Yue Man Li, Ying Garron Bozo, Jaime DEBT DEBT MANAGEMENT SUBNATIONAL DEBT MANAGEMENT DEBT MANAGEMENT PERFORMANCE ASSESSMENT PUBLIC DEBT PUBLIC FINANCIAL MANAGEMENT FISCAL DECENTRALIZATION 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. 2020-04-27T17:02:19Z 2020-04-27T17:02:19Z 2020-04 Working Paper http://documents.worldbank.org/curated/en/855871587999761270/State-Debt-Management-in-Nigeria-Challenges-and-Lessons-Learned http://hdl.handle.net/10986/33656 English MTI Discussion Paper;No. 19 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Working Paper Africa Nigeria
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	DEBT DEBT MANAGEMENT SUBNATIONAL DEBT MANAGEMENT DEBT MANAGEMENT PERFORMANCE ASSESSMENT PUBLIC DEBT PUBLIC FINANCIAL MANAGEMENT FISCAL DECENTRALIZATION
spellingShingle	DEBT DEBT MANAGEMENT SUBNATIONAL DEBT MANAGEMENT DEBT MANAGEMENT PERFORMANCE ASSESSMENT PUBLIC DEBT PUBLIC FINANCIAL MANAGEMENT FISCAL DECENTRALIZATION Razlog, Lilia Lee, Yue Man Li, Ying Garron Bozo, Jaime State Debt Management in Nigeria : Challenges and Lessons Learned
geographic_facet	Africa Nigeria
relation	MTI Discussion Paper;No. 19
description	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.
format	Working Paper
author	Razlog, Lilia Lee, Yue Man Li, Ying Garron Bozo, Jaime
author_facet	Razlog, Lilia Lee, Yue Man Li, Ying Garron Bozo, Jaime
author_sort	Razlog, Lilia
title	State Debt Management in Nigeria : Challenges and Lessons Learned
title_short	State Debt Management in Nigeria : Challenges and Lessons Learned
title_full	State Debt Management in Nigeria : Challenges and Lessons Learned
title_fullStr	State Debt Management in Nigeria : Challenges and Lessons Learned
title_full_unstemmed	State Debt Management in Nigeria : Challenges and Lessons Learned
title_sort	state debt management in nigeria : challenges and lessons learned
publisher	World Bank, Washington, DC
publishDate	2020
url	http://documents.worldbank.org/curated/en/855871587999761270/State-Debt-Management-in-Nigeria-Challenges-and-Lessons-Learned http://hdl.handle.net/10986/33656
_version_	1764479234348154880

State Debt Management in Nigeria : Challenges and Lessons Learned

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