Mountain Top University Library

Every economy is faced with financial lags i.e., limited resources are not able to balance the expenditures of a nation, this is where a nation is left with the option and encouraged to borrow in other to make ends meet.This research, studied the impact of government debt on the economic growth of Nigeria with a time span of 37 years i.e., 1985-2021 using a multiple regression analysis which was run by the SPSS software.The findings confirm that public debt has a significant but negative impact on economic growth of 21%, and domestic debt has a significant and positive impact of 86%, the result also shows that foreign direct investment has a marginally positive significance on the impact of the economic advancement of the country at 21%, the debt payment service also played a positive and significant role in the economy at 34%, capital formation was marginally
positive and significant at 7%.The research concludes and recommends that the government should work on its fascial
policies and monetary policies, the government should also invest in the fourth industrial revolution to improve skills and advance the initiative of the nation with new technologywhich will bring in foreigners to come and be amazed and also wish to invest their resource in the economy. It is also advised that the government should try to encourage exportation and discourage importation in other to encourage locally traded goods and also invest in rural development.Keywords; Debt, Utilization, Growth, Government, Foreign, Domestic, Economy