Impacts of Federalism System Of Administration And Covid-19 Palliatives On Public Debt In Nigeria.

Abstract

Government Administrations across the global community are facing added unprecedented challenges of public debt resulting from COVID-19 pandemic palliatives. Nigeria and her people are no exception. It is now, more than ever, that leadership to save the issue of increasing public debt in Nigeria and to rouse collective action is needed. The study therefore assessed the implication of federalism system of government and COVID-19 palliatives on public debt in Nigeria. Literature was reviewed in the areas of federalism administration, COVID-19 palliatives, and public debt. The study was hinged on the theory of increasing public expenditure. The findings of the study revealed that the percentage of external debt portfolio rise from 31.7% to 41.2% and the domestic debt rise from 49.8% to 68.9% in the period of financing COVID-19 palliative. The study concluded that the impact of the outbreak on financial public debt could have further negative impact on the system of government. The study recommended that salvaging public debt and COVID-19 challenges and other economic crises have an important place among the public revenues and in the federalism system of Government, so it’s political, economic, and social impacts should be considered.