ABSTRACT
The study examine the effect ofexternal debt
on economic growth ofNigeria. The objectives of the study are; To examine the
effect of external debt on change in GDP ofNigeria, and to ascertain the effect
ofdebt servicing on change in GDP ofNigeria. To achieve the objective of the
study, ex-postfacto research design was adopted. The researcher adopted
secondary data in getting the required information through Central Bank of Nigeria
(CBN) Statistical Bulletin (various years), and internet and journal
publications. In testing the hypotheses, the study employMultiple regression
analysis in order to determine the effect of external debt on economic growth
ofNigeria. The findings revealed that external debt has anegative significant
effect on real gross domestic product in Nigeria. The study recommends that
Debt management regime should be refocused to ensure that external debt
repayment is exogenously determined. Moreover, future external debt should be
attached to a specific capital development program to ensure the growth in the
economy. The study also recommends that the respective debt servicing index
should be kept in check. Nigeria should develop also debt management policies
that are tailored towards investment opportunities that will spur revenue for
debt repayment and in turn drive the nations ’ economic growth in the long run.
EMELE, V (2024). Effect of External Debt on Economic Growth of Nigeria:- Emele Ihechiluru V.. Repository.mouau.edu.ng: Retrieved Sep 07, 2024, from https://repository.mouau.edu.ng/work/view/effect-of-external-debt-on-economic-growth-of-nigeria-emele-ihechiluru-v-7-2
VICTORIA, EMELE. "Effect of External Debt on Economic Growth of Nigeria:- Emele Ihechiluru V." Repository.mouau.edu.ng. Repository.mouau.edu.ng, 25 Jul. 2024, https://repository.mouau.edu.ng/work/view/effect-of-external-debt-on-economic-growth-of-nigeria-emele-ihechiluru-v-7-2. Accessed 07 Sep. 2024.
VICTORIA, EMELE. "Effect of External Debt on Economic Growth of Nigeria:- Emele Ihechiluru V.". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 25 Jul. 2024. Web. 07 Sep. 2024. < https://repository.mouau.edu.ng/work/view/effect-of-external-debt-on-economic-growth-of-nigeria-emele-ihechiluru-v-7-2 >.
VICTORIA, EMELE. "Effect of External Debt on Economic Growth of Nigeria:- Emele Ihechiluru V." Repository.mouau.edu.ng (2024). Accessed 07 Sep. 2024. https://repository.mouau.edu.ng/work/view/effect-of-external-debt-on-economic-growth-of-nigeria-emele-ihechiluru-v-7-2