This study examined the effect of sectorial microcredit allocation on Nigeria economic development. Time series data were sourced from Central Bank of Nigeria Statistical Bulletin from 1992-2019. Nigeria per capita income was proxied for dependent variables while microcredit to agricultural sector, mining and querying, manufacturing sector, real estate and construction and transport and communication were proxies for independent variables. The study employed descriptive statistics and multiple regression models to estimate the relationship that exists between sectorial microcredit allocation and economic development. Ordinary Least Square (OLS), Augmented Dickey Fuller Test, Johansen Co-integration test, normalized co-integrating equations, parsimonious vector error correction model and pair-wise causality tests were used to conduct the investigations and analysis. The study found that 59 percent variation on Nigeria per capita income can be traced to variation on microcredit allocation to the various sectors of the economy. microcredit to transport and communication have positive and no significant effect, microcredit to real estate and construction have negative but no significant effect, microcredit to manufacturing sector have negative and significant, microcredit to mining and querying have positive and significant effect while microcredit to agricultural sector have positive and significant effect on Nigeria per capita income. From the findings, the researcher concludes that microcredit allocation have significant effect on Nigeria economic development. It recommends that for re-introduction of the abolished compulsory sectorial lending operation and sectorial reforms to attract microcredit. Microfinance banks should be encouraged to increase their branches so as to reach out and provide loans to more clients in order to achieve greater investment purposes. Government should further encourage the activities of micro finance banks by creating enabling environment so that they can further support the growth of business enterprises in Nigeria.

This study examined the effect of external debt burden on the growth of Nigeria economy. Time series data was sourced from Central Bank of Nigeria Statistical Bulletin from 1986-2019. Nigeria real gross domestic was proxied for dependent variable while debt servicing; external debt stock, debt overhang, debt sustainability and crowd-out effect of external debt were proxies for independent variables. The study employed multiple regression models to estimate the relationship that exists between external debt burden indicators and Nigeria economic growth. Ordinary Least Square (OLS), Augmented Dickey Fuller Test, Johansen Co-integration test, normalized co-integrating equations, parsimonious vector error correction model and pairwise causality tests were used to conduct the investigations and analysis. The study findings revealed that 72 percent of the variations in Nigeria gross domestic products can be explained by the changes in external debt burden indicators. The results indicated a negative coefficient with external debt stock and debt overhang while a positive coefficient with debt sustainability, debt servicing and crowd out effect of external debt on Nigeria gross domestic products. From the findings, the study concludes that external debt burdens significantly affect growth of Nigeria economy. We recommend that the fund borrowed should be effectively managed, the federal government should laydown guidelines in terms of defining the purpose, duration, moratorium requirements and commitments, negotiation among others including conditions for external debt loans. Government should initiate and develop policies that will address the fundamental causes of external debt.