Effects Of External Debts On Economic Growth In Nigeria:- Danjuma Catherine

ABSTRACT

 This study focuses on the impact of external debt on economic growth in Nigeria from 1981- 20 I 8. Secondary method of data collection was used with data gotten from CBN statistical bulletin and World bank development indicator. Ordinary Least Squares (OLS) technique of estimation was used to analise the data. The result from the co integration test indicates that there is no long-run relationship between debt service payment and economic growth in Nigeria within the period under review. The study therefore recommend that debts should be contracted solely for economic capital formation purpose, because capital formation has direct impact on economic growth. Keywords: Debt servicing, Economic growth, direct impact, Financing, capital fonnation.