Thesis Abstract

Financial distress is a critical issue that affects individuals, businesses, and economies worldwide. In Nigeria, the problem of financial distress has been a significant concern, impacting both the public and private sectors. This research project aims to conduct a critical analysis of the causes and problems of financial distress in Nigeria. The study will utilize a mixed-methods approach to explore the multifaceted nature of financial distress in Nigeria. Quantitative data will be collected through surveys and financial reports, while qualitative data will be gathered through interviews and case studies. By combining these methods, the research will provide a comprehensive understanding of the factors contributing to financial distress in the Nigerian context. One of the key causes of financial distress in Nigeria is the lack of access to credit and financial services. Many individuals and businesses in Nigeria struggle to secure loans or financing, leading to cash flow problems and insolvency. Additionally, government policies and regulations can create barriers to financial stability, further exacerbating the problem of financial distress. Another important factor contributing to financial distress in Nigeria is economic instability. The country has experienced fluctuations in exchange rates, inflation, and GDP growth, which can impact businesses and individuals' financial health. Political uncertainty and corruption also play a role in creating an unstable economic environment that contributes to financial distress. Furthermore, poor financial management practices and lack of financial literacy are significant issues that can lead to financial distress in Nigeria. Many individuals and businesses do not have the necessary skills to manage their finances effectively, resulting in debt accumulation and bankruptcy. Additionally, fraud and embezzlement are prevalent in the Nigerian financial system, further undermining financial stability. The problems of financial distress in Nigeria are far-reaching and require comprehensive solutions. By conducting a critical analysis of the causes and problems of financial distress in Nigeria, this research project aims to contribute to the existing body of knowledge on this important issue. The findings of the study will help policymakers, financial institutions, and individuals better understand the root causes of financial distress in Nigeria and develop strategies to address them effectively.

Thesis Overview