Impact Of Public Debt On Nigeria Economy (2008-2018):- Okafor Jane N

ABSTRACT

The study examined the examine the effect ofpublic debt on Nigeria economy. The objectives of the study are; To determine the effect of external debt on the Nigeria economy, to evaluate the internal debt ofNigeria and its impact on the economy, and to examine the ratio ofexternal debt to exports and its effect on the Nigeria economy. The researcher adopted secondary data in getting the required information through Central Bank ofNigeria (CBN) Statistical Bulletin (various years), and internet andjournalpublications. In testing the hypotheses, the study employ multiple regression technique ofanalysis. Thefindings revealed that external debt has no significant effect on real gross domestic product in Nigeria. The study recommends that Debt management regime should be refocused to ensure that 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 internal debt should be kept in check. Nigeria should develop also internal debt management policies that are tailored towards investment opportunities that will spur economic growth in the long run.