DOMESTIC DEBT FUNDING ELEMENTS AND PUBLIC WORKS EXPENDITURE IN NIGERIA

This study examined the relationship that subsist between Domestic Debt Funding Elements and Public works Expenditure in Nigeria for the period under study (1987 - 2023), utilizing secondary data. Treasury Bills (TB), Treasury Certificates (TC) and Development Stock (DS) are explanatory variables while Public Works Sector Expenditure (PWE) is the dependent variables used to measure Domestic Borrowings in Nigeria for the period under review. From the result of the study all employed variables on the model are stationary at first difference and exhibited a long-run relationship. From the output of model, it was discovered that all employed variables are positive and statistically significant. but treasury certificate was positive and insignificant to public works sector expenditure. We therefore recommended that Government should source for more funds with treasury certificates in other to have the needed suitable funds for infrastructural financing and chunk of domestic borrowing should be deployed to this sub-sector to ensure adequate supervision as well as monitoring and maintenance of public utilities. Finally, government should make known to the public the benefits of domestic borrowing as it leads to economic development.