International Journal of Education, Business and Economics Research (IJEBER) ISSN: 2583-3006 Vol. 3, Issue.3, May-June 2023, pp. 242-261 To cite this article: Olaleye, Olalekan Oluwabunmi, Ijaiya Othman Ayodeji, Rasheed Olajide Alao And Aiyejogo Grace Oluwayemisi (2023). Impact Of Public Domestic Debts On Private Investments In Nigeria (1990 – 2022). International Journal of Education, Business and Economics Research (IJEBER) 3 (3): 242- 261 https://ijeber.com ©IJEBER Page 242 IMPACT OF PUBLIC DOMESTIC DEBTS ON PRIVATE INVESTMENTS IN NIGERIA (1990 – 2022) Olaleye, Olalekan Oluwabunmi 1 , Ijaiya Othman Ayodeji 2 , Rasheed Olajide Alao 3 And Aiyejogo Grace Oluwayemisi 4 123 Department of Economics, University of Abuja, Abuja 4 Epitome Resources Consulting Network Ltd, Abuja ABSTRACT The study investigated how public domestic debt impacted private investments in Nigeria. The secondary data covered from 1990 to 2022 and the time series data was obtained from the statistical bulletin of the Central Bank of Nigeria (CBN). Also, the Auto-regressive Distributed Lag (ARDL) approach and the error correction model (ECM) were used for the estimation of the long and short run impact of public domestic debts on private investments in Nigeria in this study. Thus, the Autoregressive Distributed Lagged (ARDL) probability values revealed that public domestic debt with deposit money banks (PDDMB) was statistically significant in explaining variations in private investments in Nigeria. On the other hand, public domestic debt with Central Bank of Nigeria (PDCBN) and public domestic debt with the non-bank public (PDNBP) were statistically insignificant in explaining variations in private investments in Nigeria. The ECM probability of the results revealed that public domestic debt with Central Bank of Nigeria (PDCBN) and government domestic debt with the non-bank public (PDNBP) were statistically insignificant in explaining variations in Private Investments in Nigeria (PIVN) while, public domestic debt with deposit money banks (PDDMB) was statistically significant in explaining variations in Private Investment in Nigeria (PIVN). Therefore, study recommends that government should adopt measures to ensure that all forms of domestic debts (public domestic debts from the Central Bank of Nigeria, public domestic debt with deposit money banks and public domestic debt with the non-bank public) are utilized for capital projects that have direct and indirect impact on private investments in Nigeria. KEYWORDS: Domestic Debt, Deposit Money Bank, Private Investment, Central Bank of Nigeria. © The Authors 2023 Published Online: June 2023 Published by International Journal of Education, Business and Economics Research (IJEBER) (https://ijeber.com/) This article is published under the Creative Commons Attribution (CC BY 4.0) license. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this license may be seen at: http://creativecommons.org/licences/by/4.0/legalcode