Examining The Scale Of Nigeria'S Current And Successive Administration'S Borrowing Profile And Fund Utilization: The Challenge About The Country'S Fiscal Direction And Escalating Poverty
Ass. Professor Orie, Sylvester Okorie, PhD, MSc, MPA, MBA, PGD, BSc, CNA, FCNA, FNIM, FCAI.
Department of Public Administration & Policy Studies, Tansian University Umunya, Anambra State, Nigeria.
Rev. Fr. Dr. Justin A. Egbe, PhD
Department of Public Administration & Policy Studies, Tansian University Umunya, Anambra State, Nigeria.
Keywords: Borrowing, Debt, Utilisation, Sustainability, Governance, Poverty
Abstract
This study critically examines the pervasive issue of financial misappropriation and governance failure within Nigeria’s public sector, with particular emphasis on the role of legislative, executive, and judicial institutions in ensuring accountability. The main objective of the research is to identify the structural, institutional, and behavioural factors that sustain corruption, to evaluate the effectiveness of existing oversight mechanisms, and to propose pragmatic reforms that can strengthen transparency, ethical leadership, and public sector integrity. Employing a descriptive survey research design, the study focuses on stakeholders across Nigeria’s six geopolitical zones, encompassing heads of governments at federal, state, and local levels; ministries, departments, and agencies; members of the National Assembly and Houses of Assembly; tertiary and post-primary institutions; traditional authorities; youth and women organisations; religious leaders; non-governmental organisations; and political actors. The estimated population strength of the study is 100 million, from which the sample size was determined using the Yaro Yamane mathematical method to ensure statistical representativeness. Primary data were collected through structured questionnaires and interviews, complemented by secondary data from peer-reviewed journal publications, official reports from the World Bank, EFCC, national newspapers, and statements from civil society actors such as Femi Falana and Dele Farotimi. Data were analysed using descriptive and inferential statistical tools within the SPSS package, while qualitative insights were subjected to thematic content analysis. The study applied Institutional Theory, Public Choice Theory, and Principal-Agent Theory to interpret observed behaviours and institutional dynamics. Findings reveal entrenched patterns of financial misappropriation facilitated by weak institutional frameworks, political interference, judicial inefficiency, and limited citizen oversight. Oversight mechanisms, particularly legislative committees and anti corruption agencies, are often compromised, resulting in selective prosecution and persistent impunity. The study recommends institutional strengthening, judicial reforms, transparent public financial management, ethical leadership training, active citizen engagement, technological integration in governance processes, and depoliticisation of anti corruption initiatives. In conclusion, the research underscores that financial misappropriation in Nigeria is systemic rather than incidental, necessitating comprehensive reforms that combine institutional, ethical, and civic interventions. Only through sustained commitment to transparency, accountability, and principled leadership can Nigeria achieve effective governance and equitable national development.