What does Psalm 118:28 mean?
Here, the psalm turns to direct expressions of praise to the Lord. He is referred to as "my God," using two different Hebrew words. The first is ēl', which literally refers to power and is often used regarding deities. The second is elōhim, a plural term referring to "gods" but often used to refer to the One True God (Genesis 1:1; Exodus 7:16; Leviticus 11:44; Deuteronomy 6:4). Both appear in English as "God," but carry a subtly different emphasis.The statements here are personal. The psalmist sees the Lord as his Lord, not merely "a" Lord or power. This relationship only comes through truly saving faith. It is not passed down through heritage (John 8:33, 39, 41). Those who find this salvation have the ultimate reason to be grateful and to give thanks (Ephesians 5:20; Colossians 3:17)
To "extol" or "exalt" means to speak of in a positive way: improving the subject's reputation and standing in the eyes of other people.
Psalm 118:19–29 includes phrases used during Jesus' triumphal entry into Jerusalem (Matthew 21:8–9). References to gates, cornerstones, and salvation are themes repeated frequently in the Bible (John 10:9; Matthew 7:13–14; Titus 2:11; 1 Peter 2:6). Similar ideas about entering through gates to praise God are found in Psalm 24:7–10 and Psalm 26:6–8.
Psalm 118 appears to be a "call and response." The repeated phrases may have been spoken by a congregation after the prompts, read by a song leader. The psalmist begins with a declaration of God's loyal love and its expression by all of Israel. Next is a celebration of the Lord's rescue and the value of honoring Him. Despite Israel's many powerful neighbors, God preserved them through discipline and exile, not allowing the nation to die. What the world rejects has now become the key piece of God's plan for mankind.