Public Debt Management and Sustainable Growth in Nigeria

Nigeria economy have been handicapped by unavailable fund. Through Covid-19 epidemic, the current growing of banditry and terrorism, coupled with the secessionist, have made the economy revenue continue to decline at large. While the continuity declining of revenue have surge the modest of the government to seek funds from both internal and external bodies for loan. Their inability to finance the debt stock servicing are putting pressure on Nigeria economy already and pilling up the total debts for other generation. As it stand, Nigeria remains the defiant figure among the most indebted countries in the Sub-Saharan African. Therefore, this study examined the effect of public debt management on sustainable economic growth in Nigeria between the period of 1981 to 2022. The study make use of ex-post facto research design while autoregressive distributed lag modelling was the estimated techniques. The empirical finding showed that Total debt stock and ratio of debt servicing to gross national product (RDBFG) were positive but not statistically significant to per capita income at 5% significant level. However, both Customer price index and Total government revenue were positive and statistically significant at 5% significant inference. The study recommended that government should reduce its public debt stock level by channeling their effort towards rigorous internally revenue generation.