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ABSTRACT
This study is an empirical investigation of external debt dynamics and infrastructural growth in Nigeria. Chapter one introduces the subject matter by indicating the importance of infrastructural growth in Nigeria, this chapter goes further by exposing the poor state of external debt burden in the country, and questions the state of infrastructural growth and development of the nation with volumes of fund borrowed. The chapter raises the statement problem, which is an indication of the lapses the present study aims to cover, which other studies conducted with respect to have omitted. The areas to be covered include specific consideration at only external debt dynamics and infrastructural growth in Nigeria, which are two key economic outcomes. Also, the methodology chosen by the other studies with respect to the external debt dynamics and infrastructural growth in Nigeria has not been effective and efficient in the results produced. The present work then borrows from more improved statistical and econometrical techniques that would better explain infrastructural growth in Nigeria. Another gap aimed to cover is the time frame, which this present study considers the years 1981 – 2020. More so the two economic outcomes – growth and infrastructural development have been closely and simultaneously looked at considering the poor record obtained from over the years. Chapter one ends with two hypothesis tests, which are not in favour of debt burden and borrowing of financing to national projects; because they have not yielded the required results for national growth and infrastructural development.
