How FG’s borrowings increase money supply by 51% to N108.96trn — CBN
Nigeria’s broad money supply surged significantly in late 2024, driven largely by substantial domestic government borrowing from the private sector. This rapid expansion of liquidity reflects deepening financial complexities and highlights the economy’s heavy reliance on fiscal borrowing to meet state obligations, rather than organic growth or external inflows. The sharp increase in net domestic credit indicates a structural shift in how the government funds its operations, raising concerns about long-term inflationary pressures and economic stability. While private sector credit also grew, the disproportionate rise in government debt suggests that monetary policy may struggle to maintain equilibrium as fiscal needs increasingly dictate monetary conditions. This data is crucial for open data advocates because it underscores the necessity of transparent, accessible monetary statistics. Reliable public records enable analysts, researchers, and citizens to monitor fiscal health, hold institutions accountable, and understand how government borrowing practices directly impact national economic stability and everyday financial realities.
Source: tribuneonlineng.comPublished on 2025-01-01
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