A review of the impact of public debt on economic growth in Nigeria
In the long term and short term, debt service payments led to growth retardation confirming debt overhang effect.
(Citation from: Article The impact of government debt on economic growth in Nigeria
)The conclusion validated that effective public debt management tends to have a positive significant effect on economic growth in Nigeria.
(Citation from: Article Public Debt Management and Economic Growth in Nigeria
)The findings of the study showed that domestic debts of the Federal government of Nigeria is positive and statistically significant to economic growth of Nigeria while foreign debts contribute less to the economic growth of the country.
(Citation from:
https://www.rsisinternational.org/journals/ijrsi/digital-library/volume-8-issue-5/133-141.pdf )
Conclusion: Debt surges tend to be followed by weaker economic growth and persistently lower output. However, this negative relationship does not always hold. Surges in public debt tend to have the most negative impact on future growth prospects.
Hello... i think in any country, not just Nigeria, Public debt can/will have a negative impact on economic growth. Rates and taxes will increase to satisfy the debt thus reducing the financial livelihood of most citizens. Businesses will also suffer due to slow economic growth and the revenue generated will not be properly realised.
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