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ABSTRACT
Numerous studies has been carried out on Exchange Rate and external debt on economic performance at different times in different countries albeit with mixed findings. Therefore this study has empirically investigated exchange rate fluctuation and external debt burden on economic performance in Nigeria for the period of 1981-2022. The variables are Real GDPaproxy for economic growth, as the dependent variable while Exchange Rate, External Debt Stock, Foreign Direct Investment and Total Government Expenditure as the independent variable. Fully modified Ordinary least Square was used. The data was based on world Bank indicators. The results of stationality and normality test reveals that the model is fairly well specified and could be used for policy analysis. The results reveals that exchange rate negatively affected real GDP, external debt was multifaceted while FDI has positive impact and government expenditure has positive impact on real GDP, The study therefore suggested efforts that should be made by fiscal and Monetary body in Nigeria to attain economic performance.
