The Federal Government’s total borrowing from the Central Bank of Nigeria through Ways and Means Advances has risen by 96.54 per cent or 8.92tn in two years, data collated from the CBN have shown
It rose from N9.24tn as of January 2020 to N18.16tn as of January 2022, according to a year-on-year analysis.
The N18.16tn owed by the Federal Government to the apex bank is not part of the country’s total public debt stock, which stood at N39.56tn as of December 2021, according to the Debt Management Office.
The public debt stock only includes the debts of the Federal Government of Nigeria, the 36 state governments, and the Federal Capital Territory.
It rose from N9.24tn as of January 2020 to N18.16tn as of January 2022, according to a year-on-year analysis.
The N18.16tn owed by the Federal Government to the apex bank is not part of the country’s total public debt stock, which stood at N39.56tn as of December 2021, according to the Debt Management Office.
The public debt stock only includes the debts of the Federal Government of Nigeria, the 36 state governments, and the Federal Capital Territory.-Punch