Macro Analysis /

Nigeria: Deficit monetization raises macro-economic risks – Fitch

Research Team

Research Team @ EmergingMarketWatch

21 January 2021

Published byEmergingMarketWatch

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Federal government directly borrowed NGN 2.8tn or 1.9% of GDP from central bank to fund 2020 fiscal deficit
Federal government's indebtedness to CBN was NGN 9.8tn as of end-2019, so use of CBN financing pre-dated COVID-19

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