1] dependence of nigeria govt. On the crude oil's revenue from foreign countries caused it.
2] financial indiscipline of nigeria govt. By embarking on short-term projects that will enrich their pockets instead of long-term that will bring future gains for the country.
3] crumbling of nigerian capital market as a result of margin loans from banks by the shareholders.
4] interdependence of nigerian economy on american economy is one of the causes of it.
5} banks financial crisis as a result of margin loans giving to the intending shareholders which later exposed the situations banking sector.
2] financial indiscipline of nigeria govt. By embarking on short-term projects that will enrich their pockets instead of long-term that will bring future gains for the country.
3] crumbling of nigerian capital market as a result of margin loans from banks by the shareholders.
4] interdependence of nigerian economy on american economy is one of the causes of it.
5} banks financial crisis as a result of margin loans giving to the intending shareholders which later exposed the situations banking sector.