S/N

Variable

Definition

Measurement

Source

1

Real GDP Growth rate

Annual Percentage change in Real GDP

Percentage

CBN

2

External Debt Service

Total debt service on external debt

Billions in Dollars

World Bank

3

External Debt Stock

External Debt

Billions in Dollars

CBN

4

External debt service to Revenue

Percentage debt service to exports

Percentage

World Bank

5

EXRS represents external reserve to debt ratio

Total reserves expressed in percentage of total external debt

Percentage

World Bank

5

Budget Deficit

Government Revenue less Government Expenditure

Billions in Naira

CBN

6

Population Growth

Annual percentage Growth

Percentage

World Bank

7

GFCR

Annual percentage growth

Percentage

World Bank