The Effect of External Debt on Economic Growth of Nigeria

This research is carried out to determine the effect of external debt on economic growth of Nigeria. The research design used in this research work is ex post facto. In this research, most of the data used is obtained from already published data. These documents included annual reports and accounts, NBS reports CBN bulleting and facts book from the Nigerian Stock Exchange NSE , newspaper reports, internet reports as well as other relevant financial and business publications. A Data was analyzed using tables, ratios, and percentages. The hypothesis was tested using regression. This research, find that the largest of the Nigeria's debt in contemporary years is borne on multilateral and small portion of it on other debts instruments. It is to this view, that the result showed a negative impact on GDP of Nigeria. Also, the coefficient of determination proved that there are enough variable tested to determine the relationship of GDP and external debt. We recommend the following, which shall contribute to the improvement in the management of external debt decisions. The total external debt incurred should be channeled towards the purpose meant for its existence. Dadiowei, Opritari Maxwell | Dr. Odogu, Laime Isaac "The Effect of External Debt on Economic Growth of Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-4 , August 2024, URL: https://www.ijtsrd.com/papers/ijtsrd67166.pdf Paper Url: https://www.ijtsrd.com/management/other/67166/the-effect-of-external-debt-on-economic-growth-of-nigeria/dadiowei-opritari-maxwell