Effect of external debt on economic growth of Nigeria.

ABSTRACT

The study investigates

the effect of external debt on economic growth in Nigeria. The study however

investigates the level of real Gross Domestic Product vis-à-vis external debt,

external reserve, debt service and government expenditure. Ordinary Least

Square [OLS] is used to estimate four major macroeconomic variables in order to

justify their effects on economic growth. The results of the findings further

suggest that external debt has a significant impact on the level of economic

growth in Nigeria. Therefore, the study recommends among others that African

debtor nations should come together to form a union and bargain with their

creditor’s guild rather than facing such guild of London and Paris Club

individually, and that the government should ensure that the money saved from

debt cancellation is invested in changing the lives of millions of people in

Nigeria by providing more educational and health facilities.

TABLE OF CONTENTS

CHAPTER ONE:

INTRODUCTION

1.1 Background to the Study

1.2 Statement of the Problems

1.3 Objective of the Study

1.4 Significance of the study

1.5 Statement of hypothesis

1.6 Scope of the study

1.7 Organization of the study

CHAPTER TWO: LITERATURE REVIEW& CONCEPTUAL FRAMEWORK

2.1 Conceptual Framework

2.2 External Debt Burden and Debt Service Capacity

2.3 Analytical Framework for Measuring Debt Servicing Payment and its Sustainability

2.4 Trend and Structure of Nigeria’s External Debt

2.5 Reasons for Nigeria’s External Debt Trap

2.6 Approaches on Nigeria’s Debt Management

2.7 Justification for Debt Relief

2.8 The Probable Effect of Debt Cancellation on Nigeria’s Economy

CHAPTER THREE: RESEARCH METHODS

3.1 Introduction

3.2 Nature and source of data

3.3 Estimation Technique

3.4 Model Specification

3.5 Definition of variables

CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS

4.1 Introduction

4.2 Presentation of result

4.3 Trends in the variables

4.4 Policy implication

CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.1 Summary

5.2 Conclusion

5.3 Recommendations

REFERENCES

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APA

B6Oibsr5c000a87429d54.10284207, 9. (2018). Effect of external debt on economic growth of Nigeria.. Afribary. Retrieved from https://beta.afribary.com/works/effect-of-external-debt-on-economic-growth-of-nigeria-3955

MLA 8th

B6Oibsr5c000a87429d54.10284207, 9jnNVAH5c000a8741eca4.08460391 "Effect of external debt on economic growth of Nigeria." Afribary. Afribary, 29 Jan. 2018, https://beta.afribary.com/works/effect-of-external-debt-on-economic-growth-of-nigeria-3955. Accessed 24 Apr. 2025.

MLA7

B6Oibsr5c000a87429d54.10284207, 9jnNVAH5c000a8741eca4.08460391 . "Effect of external debt on economic growth of Nigeria.". Afribary, Afribary, 29 Jan. 2018. Web. 24 Apr. 2025. < https://beta.afribary.com/works/effect-of-external-debt-on-economic-growth-of-nigeria-3955 >.

Chicago

B6Oibsr5c000a87429d54.10284207, 9jnNVAH5c000a8741eca4.08460391 . "Effect of external debt on economic growth of Nigeria." Afribary (2018). Accessed April 24, 2025. https://beta.afribary.com/works/effect-of-external-debt-on-economic-growth-of-nigeria-3955

Effect of external debt on economic growth of Nigeria.

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