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Debt Servicing And Economic Growth: The Nigerian Experience (1981 To 2013)
The study examined the impact of Debt Service Payment (DSP) on economic growth for the period 1981 to 2013 using empirical evidence from Nigeria. The ordinary least square regression method and the Granger Causality Test were used as principal methods of estimation in addition to other descriptive statistical tools adopted. DSP proved to be a positive and significant function of economic growth while the causality tests showed a bidirectional causality running for DSP to GDP and a feedback from GDP to DSP. This goes to show that Debt weight evidenced by the quantum of servicing payment by the government limits growth Nigeria and other economies alike.
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