Nigerian Government Records N7.34tn Fiscal Deficit In 11 Months  

The Central Bank of Nigeria revealed that the Federal Government recorded N7.34tn fiscal deficit between January 2022 and November 2022. <br />A member of the Monetary Policy Committee, Mike Obadan, says these have continued to elicit serious concerns considering the growing yearly fiscal deficits and their implications for public debt accumulation and inflation in view of the Ways and Means Advances financing. <br />He says the Nigerian economy was highly challenged in 2022 as reflected by weakening growth performance, high and escalating inflation, foreign exchange market pressure and depreciating exchange rate, ballooning fiscal deficits and public debt and expanding money supply among others.