International Journal of Science and Research (IJSR)

International Journal of Science and Research (IJSR)
Call for Papers | Fully Refereed | Open Access | Double Blind Peer Reviewed

ISSN: 2319-7064


Downloads: 132

Research Paper | Economics | Nigeria | Volume 3 Issue 10, October 2014


External Debt: A Tool For, or a Threat to the Economic Growth of Nigeria

Mbanasor Christian Okechukwu | Okere Peter Anele


Abstract: Economic growth is a paramount desire of any nation. Nigeria, as a developing country and the giant of Africa has a number of challenges facing her economic growth. This paper seeks to empirically find the effects of external public debt on the economic growth of Nigeria. The researchers collected secondary data from CBN Annual Reports and Statistical Bulletin. The multiple regression analysis was used to find the relationship between Nigeria external debt and Nigeria Gross Domestic Product (GDP). The result shows that there is a minimal positive relationship between external debt stock and GDP. The coefficient of determination (R2), which stood at 99 % also shows that the model has a good fit. The conclusion and summary of this paper reflects that external debt will positively affect economic growth increasingly in the near future, if public debts are managed in such a manner that they are invested in self liquidating developmental projects. Termites such as, embezzlement, mismanagement and corruption must not be in the system to achieve the desired economic goals.


Keywords: External Debt, Economic Growth, Nigeria, Economy, GDP


Edition: Volume 3 Issue 10, October 2014,


Pages: 70 - 75


How to Download this Article?

You Need to Register Your Email Address Before You Can Download the Article PDF


How to Cite this Article?

Mbanasor Christian Okechukwu, Okere Peter Anele, "External Debt: A Tool For, or a Threat to the Economic Growth of Nigeria", International Journal of Science and Research (IJSR), Volume 3 Issue 10, October 2014, pp. 70-75, https://www.ijsr.net/get_abstract.php?paper_id=SEP14578

Similar Articles with Keyword 'External Debt'

Downloads: 118

Research Paper, Economics, Albania, Volume 4 Issue 8, August 2015

Pages: 1797 - 1800

Economic and Fiscal Situation of Albania

Arjola Kaza | Drini Salko

Share this Article

Downloads: 119

Case Studies, Economics, Iraq, Volume 4 Issue 8, August 2015

Pages: 1506 - 1516

The Impact of External Debt on Economic Growth: Empirical Evidence from Iraq

Dr. Younis Ali Ahmed PhD [2] | Sazan Taher Saeed MSc | Shvan Jamal Hama Saed MSc

Share this Article
Top