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The study aims to analyze how external factors affect Nigeria's GDP per capita from 1987 to 2022.

May 8, 2026Open Access

Economic Vulnerability to External Shocks: Insights From Nigeria's GDP Per Capita

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The study aims to analyze how external factors affect Nigeria's GDP per capita from 1987 to 2022.
Used annual time series data from World Economic Indicators of the World Bank
Employed econometric techniques including ARDL, ADF Unit Root test, and ECM
Analyzed external determinants such as exchange rate, foreign direct investment, aid, and debt
Foreign direct investment inflows and external debt positively influence Nigeria's GDP per capita in the short run
Exchange rate and official development assistance have a negative impact on GDP per capita
The ARDL model was free from issues of serial correlation and heteroscedasticity

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Examines external sector influences on GDP per capita in Nigeria, indicating significant short-term effects.

Chinedu Ikechukwu Okafor (2026) studied this question.

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