EFFECT OF EXTERNAL DEBT ON THE GROWTH OF THE NIGERIAN ECONOMY
Abstract
This study examined how external debt affects Nigeria’s economic growth using GDP. Data from 2018–2023 were analyzed using standard econometric methods, and the results showed a long-run relationship between the variables. External debt was found to have a positive effect on economic growth, provided it is properly managed. The study therefore recommends that government borrowing should focus on productive economic activities.
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