ABSTRACT
The study investigates
the effect of external debt on economic growth in Nigeria. The study however
investigates the level of real Gross Domestic Product vis-à-vis external debt,
external reserve, debt service and government expenditure. Ordinary Least
Square [OLS] is used to estimate four major macroeconomic variables in order to
justify their effects on economic growth. The results of the findings further
suggest that external debt has a significant impact on the level of economic
growth in Nigeria. Therefore, the study recommends among others that African
debtor nations should come together to form a union and bargain with their
creditor’s guild rather than facing such guild of London and Paris Club
individually, and that the government should ensure that the money saved from
debt cancellation is invested in changing the lives of millions of people in
Nigeria by providing more educational and health facilities.
TABLE OF CONTENTS
CHAPTER ONE:
INTRODUCTION
1.1 Background to the Study
1.2 Statement of the Problems
1.3 Objective of the Study
1.4 Significance of the study
1.5 Statement of hypothesis
1.6 Scope of the study
1.7 Organization of the study
CHAPTER TWO: LITERATURE REVIEW& CONCEPTUAL FRAMEWORK
2.1 Conceptual Framework
2.2 External Debt Burden and Debt Service Capacity
2.3 Analytical Framework for Measuring Debt Servicing Payment and its Sustainability
2.4 Trend and Structure of Nigeria’s External Debt
2.5 Reasons for Nigeria’s External Debt Trap
2.6 Approaches on Nigeria’s Debt Management
2.7 Justification for Debt Relief
2.8 The Probable Effect of Debt Cancellation on Nigeria’s Economy
CHAPTER THREE: RESEARCH METHODS
3.1 Introduction
3.2 Nature and source of data
3.3 Estimation Technique
3.4 Model Specification
3.5 Definition of variables
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.1 Introduction
4.2 Presentation of result
4.3 Trends in the variables
4.4 Policy implication
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.1 Summary
5.2 Conclusion
5.3 Recommendations
REFERENCES