Effect of External Debt Service on Economic Growth in Nigeria

External debt service is major variable in economic growth and public debate. However, this often ignored literature. This study investigated the relationship between external Nigeria from 1981 to 2020. A quantitative research approach was adopted for study. The method estimation Auto-Regressive Distributed Lags (ARDL) model. ARDL bound test results showed there co-integration. speed of change short-run long-run co-integrating equations 88.86%. used overhang theory, neo-classical theory endogenous as theoretical framework. provided evidence a negative although not statistically significant. result shows resource depletion effect services on growth. stock has positive but significant with There reserves ratio Debt export recommends that policy makers should develop methodology compare return be incurred cost so gains may eventually offset service. or legislation.