International Journal of Academic Management Science Research (IJAMSR)   Year: 2022 | Volume: 6 | Issue: 7 | Page No.: 58-68 EXTERNAL DEBT (ED) AND GROWTH NEXUS (GN) IN NIGERIA Download PDF EHIEDU, Victor Chukwunweike Ph.D Abstract: This research investigated external debt (ED) and growth nexus (GN) in Nigeria. LDC countries have difficulties in managing and servicing huge stocks of external debts. These LDCs nations are geographically found within Sub-Saharan African. Nigeria's relatively soaring ED accumulation plus rising debt burden are having serious consequences for the country's development and debt sustainability initiatives. While economic performance continues to deteriorate, there has been significant net asset depletion to meet debt obligations. The research used Autoregressive Distributed Lag (ADL) estimation techniques (1981-2018). The study's findings show that Nigeria's debt steadily increased with years. ED accumulation has a depressing linkage with growth. This demonstrates debt overhang (DO) dilemma. The result, suggests that present debt inflows (DI) are stimulating private investment. Debt servicing (DS) does not appear depressing on growth, but it does indicate crowding-out outcome on private investment. The study had some policy implications. Concurrent achievement of sustainable growth levels ED dynamics appears complex now, and may remain so if aggressive policies are pursued.