IOSR-JEF   Volume-11 ~ Issue-3 ~ May – June 2020

Abstract: The scarcity of resources has often made governments to search for sources to augment the available funds for developmental purposes. This scenario necessitate the need to borrow funds with a view to promote economic growth. This study evaluates the impact of such borrowings by government and allied institutions on the economic development of Nigeria over 56 years (1960 – 2015). The study employs an error correction model (ECM) to estimate the relationship. It observes that there is a positive correlation between the proxy for domestic debt and economic development while the proxy for domestic debt service payment is negative and significant. This suggests that domestic debt is contributing to the advancement of the economy while the repayment has inverse relationship with economic growth. The proxy for external debt and external debt service payment were negative though insignificant. The result calls for a significant change in the source of public debt from external sources to domestic sources. Government should look inwards to fund budget deficit while serious efforts should be put in place to reduce the external debt burden.

Abstract: The study assessed the impact of income inequality on poverty in Nigeria spanning the period of 1986 to 2018. The Autoregressive Distributed Lag (ARDL) model was used to carry out this objective. Findings from the study revealed that income inequality significantly contributed to the rising poverty in Nigeria, increasing poverty by 75%. Similarly, unemployment and the rising inflation exacerbated the poverty situation in the country. Conversely, growth in per capita income dampened the negative effect of poverty over the period of study. To tackle the pervasive income inequality, the study recommended improved distribution of human capital, a well-targeted social protection, while expanding the coverage of the government's social investment program to capture more unemployed people.

Keywords: Income inequality, Poverty, Per Capita Income, Unemployment, Nigeria

Abstract: Background: COVID 19 a tragic to human culture. which leads the roaming economy at a stay. Pepole are self issolated or quarantined. A virus that made the financial crises now leading to the great recession. Which is causing fear to human culture not only throughs it virus but also affecting in a psychological manner. The 213 countries and terriotories has faced these virus. It effects the stock market, no buisness is taking place. Crude oil rates have crashed. Due to high increase of demands in products but shortage in supply leads to increase of price and people facing inflation there purchasing power are coming down and that been effect GDP. People have fear as they are unaware when this panedimic is going to end and where the economy stands and when this all be stable like earlier days.

Key Word: COVID 19; Financial Crisies; Economic crises; Recession