This is one of the first major studies to put the debt question in Nigeria into perspective. It is the outcome of a historic conference held in Abuja in May 2001 to discuss Nigeria’s future within the context of the country’s considerable debt burden.

Convened by the National Debt Management Office in collaboration with the African Institute for Applied Economics, Enugu, and the UK Department for International Development, the conference was attended by many local and international participants from the public and private sector.

Capturing salient points of various presentations at the conference, this book highlights the consensus reached along the way and the recommendations proffered for reducing the debt burden, strengthening the institutional framework for debt and resource management, and resuming sustainable development. The call is to all involved, Nigerians in general and the international community in particular, to work more proactively in helping the country escape the debt trap by refocusing its resources on fighting poverty and achieving the internationally agreed millennium development goals.