NIGERIA’ NATIONAL DEBT AND ITS IMPACT ON EDUCATION DEVELOPMENT IN NIGERIA

Abstract

This chapter examines Nigeria’s national debt and its implications for education development, with particular focus on funding, infrastructure provision, instructional resources, and teacher recruitment. The study adopts a conceptual and analytical approach, drawing on existing literature and policy reports to explain how the rising debt burden constrains government expenditure on education. Findings reveal that increasing debt servicing obligations significantly reduce the fiscal space available for educational investment, resulting in persistent underfunding of the sector. This underfunding manifests in inadequate infrastructure, limited access to instructional materials, and challenges in recruiting and retaining qualified teachers. The chapter further highlights that the continued neglect of education due to debt pressures undermines human capital development, widens inequality, and slows national growth. It concludes that while borrowing can support development when effectively managed, excessive national debt poses serious risks to sustainable education development in Nigeria. The chapter recommends prudent debt management, increased budgetary allocation to education, diversification of funding sources, improved financial accountability, and enhanced investment in infrastructure and human resources as critical strategies for strengthening the education sector.