External Debt Infrastructure Development Debt Servicing Nigeria Economic Growth ARDL Model

Considering the dynamic nature of 1external debts and infrastructure 1development in Nigeria from 1981 to 2020 and the country's ever-increasing debt, this study was necessary. In particular, it examined how external debt dynamics and debt servicing impacted infrastructure development in Nigeria, and how the country's external debt stock related to infrastructure expansion. Drawing from the Neoclassical Growth Model, the Harrods-Domar 1Economic Growth Model, and the Two-Gap Model, the study sought to comprehend the workings of Nigeria's foreign debt and infrastructure development. The analysis relied on 1secondary data sourced from the 1World Development Indicator, 2020. We used ARDL, ADF, and Ordinary 1Least Square (OLS) to conduct the regression analysis. The E-views software, specifically edition 8.0, was used to analyze the data. Foreign loan servicing has a 1small negative impact on infrastructure1 development, as shown by the results. Therefore, our government must diversify our economy away from its reliance on oil if we are to lessen the blow of falling oil revenues, which usually force us to take on more debt.