Impact of External Debt Management in Economic Growth: A Lesson from Nigeria

Abstract

The process of managing national debt in any nation affects the economic well being of citizens and their productive capacity. This is so given that once a debt is raised. It becomes contractually obligatory for the payment of their interest and capital as at when due becomes contractually obligatory This study was therefore carried out to examine the impact of external debt management in Economic growth of Nigeria within the  period of 2000 -2009. Data employed are mainly secondary. They are sourced from journals, Magazine, Central Bank of Nigeria statistical Bulletin e.t.c. Collected data are analyzed using both qualitative and quantitative approaches. The qualitative aspect include the use of descriptive analysis whereby percentages are used to summarize the findings.  Quantitative aspect include the use of both the descriptive and inferential statistics. Three hypothesis were tested using product moment correlation test and findings indicate relationship between the external debt and economic growth e.t.c