Macro Analysis /

Nigeria: Deficit monetization raises macro-economic risks – Fitch

    21 January 2021
    • 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