The paper examined the impact of Nigerian external debt: Nigerian experiences from 1960-2013, using time series data from 1960 to 2013. The study employed secondary data such as Financial Reviews of Central Bank of Nigeria (CBN), and/or National Bureau of Statistics (NBS). The paper explored various econometrics and statistical analytical (.i.e., Eview 7.2) method to examine the relationship between NED and economic growth. The paper employed various diagnostic tests on Nigeria's time series data from 1960-2013. The entire tests rejected the null hypothesis and/or accepted the alternative hypothesis. From the empirical result findings, it was discovered that there is a significant relationship between NED and/or economic growth in Nigeria. The study recommended therefore that government should encourage domestic or private saving because absence or inadequate saving leads to debt or borrowing to finance the obligatory of its citizenries, formulation of fiscal policy or monetary policy to improve the standards of living of its citizenries, debt or loan stocks should be used on capital or mega projects, in order to generate employment opportunities not consumable goods (.i.e., ostensible goods). The former has direct relationship with economic growth or development, while the latter has an inverse relationship with economic growth or development of Nigeria