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ABSTRACT
The study the impact of external debt on the economic growth of Nigeria from. The objectives were to determine the relationship between domestic debt and Economic growth in Nigeria, to examine the effect of external debt on the economic growth of Nigeria, to evaluate the impact of debt servicing on the economic growth in Nigeria, to investigate the extent at which exchange rate affect the economic growth of Nigeria. Time series data were gotten and analysed using the Ordinary Least Squares (OLS) econometric technique to examine the relationship between the variables The study found that domestic debt has a positive significant impact on economic growth in Nigeria, that external debt has a negative significant impact on economic growth in Nigeria, that external debt servicing has a negative insignificant impact on economic growth in Nigeria, that exchange rate has a positive significant impact on economic growth in Nigeria. The study concludes that the Federal Government of Nigeria should resort more to the domestic sources of funding instead of external debt sources. The study recommends that the Nigerian government should reduce borrowings from external sources by focusing more on increasing the productive capacity of the economy and encouraging local content in production.
