ABSTRACT
The study investigated on the effect of
external debt on Nigerian economic growth. The objectives of the study are; to
assess the impact of external debt on public and private investment within the
Nigerian economy, to evaluate the effect of foreign debt on domestic economic
growth in Nigerian, to investigate the impact of external debt servicing on
investment development in Nigeria and to investigate the impact of foreign debt
on exchange rate within the Nigeria economy. To achieve the objectives of the
study, expost facto research design was adopted. The researcher adopted
secondary data in getting the required information. Data were collected from
CBN statistical bulletin. In testing the hypotheses, simple regression analysis
was used. The findings revealed that External debt has no significant effect on
Private and public investment in Nigeria. The findings further revealed that
External debt has no significant effect on domestic economic growth of Nigeria.
The researcher that the use of more superior methods to negotiate for fixed interest
payment and varying amortization schemes. Nigeria should seek multi-year
rescheduling rather than year by year basis. The researcher further recommends
that external finance should be used only for projects of highest priority.
This is so because it is huge external debt that threw us into the series of
economic problem in the first instance
-- (2023). Effect Of External Debt On Economic Growth In Nigeria. Mouau.afribary.org: Retrieved Oct 31, 2024, from https://repository.mouau.edu.ng/work/view/effect-of-external-debt-on-economic-growth-in-nigeria-7-2
--. "Effect Of External Debt On Economic Growth In Nigeria" Mouau.afribary.org. Mouau.afribary.org, 15 Jun. 2023, https://repository.mouau.edu.ng/work/view/effect-of-external-debt-on-economic-growth-in-nigeria-7-2. Accessed 31 Oct. 2024.
--. "Effect Of External Debt On Economic Growth In Nigeria". Mouau.afribary.org, Mouau.afribary.org, 15 Jun. 2023. Web. 31 Oct. 2024. < https://repository.mouau.edu.ng/work/view/effect-of-external-debt-on-economic-growth-in-nigeria-7-2 >.
--. "Effect Of External Debt On Economic Growth In Nigeria" Mouau.afribary.org (2023). Accessed 31 Oct. 2024. https://repository.mouau.edu.ng/work/view/effect-of-external-debt-on-economic-growth-in-nigeria-7-2