Statistical Evidence of Domestic Debts Impact on the Economic Growth in Nigeria

It is an important step for Nigeria to take domestic debts because of its numerous developmental projects in which government revenue cannot take care of, in all. But at the same time, there is a need to measure its impact on the nation’s economic growth. Hence, this study is based on the relational analysis of Gross Domestic Product (GDP) on debts from the Central Bank of Nigeria and Deposit banks. The results of the analysis, therefore, revealed that domestic debts have a significant impact on the nation’s economic growth. However, it came up with an appropriate predictive model for obtaining future values as stated as follows: