Impact Of External Debt On The Economic Growth Of Nigeria (1990-2009)

ABSTRACT

The study is on disaggregated components of domestic debt on the economic growth of Nigeria. With the aid of SPSS statistical package-version 20, the impact of the disaggregated components of domestic or internal debt on economic growth of Nigeria for the period 1990-2009 was ascertained. The result shows that the level of economic growth in Nigeria bears a significant_relationship with her domestic debt profile and thus, demands closer watch for effective policy decisions. While debts incurred via the FGN Bonds proved to be positive significant contributors to economic growth in Nigeria, treasury bonds, promissory notes and development stock had a negative relationship with economic growth in Nigeria. We equally observed a positive relationship between treasury bills, treasury certificates and .economic growth in Nigeria, though they were not statistically significant. Thereafter, policy implications of results were raised and necessary suggestions and recommendations proffered .