ABSTRACT

The study aims to ascertain the impact of external debt on the economic growth of Nigeria. The specific objectives are to ascertain the impact of external debt and external debt servicing on gross domestic product with equivalent research questions and research hypotheses. The research design used is the ex-post-facto research design, secondary data were collected from the CBN statistical bulletin. The method of data analysis is ordinary least squares statistical technique with the aid of the SPSS software. The findings show that external debt has no significant impact on economic growth. The findings also show the external debt servicing has a significant impact on economic growth. Recommendations that were made from the findings include that government should reduce the level of debt accumulated overtime and government should not hesitate to clear external debt through external debt servicing.