This research work was aimed at ascertaining the impact of external debt on construction industry in
Nigeria with emphasis on cement industry in Nigeria. Ex-post facto research design was adopted for
the study. While data used for the analysis were collected from Central Bank of Nigeria Statistical
Bulletin, 2013. The period of study was 1999-2015 and Ordinary Least Square was the tool of analysis.
From the results of the data analysis, it was discovered that External Debt stock had a positive and
significant impact on cement industry activities, while External Debt Service Payment had negative
and significant impact on cement industry activities in Nigeria. The study recommended amongst
others, that Debt Management Office should set mechanism in motion to ensure that loans were utilized
for purposes for which they were acquired as well as set a ceiling for borrowing for states and federal
governments based on well-defined criteria.
