Page 16 - நடுத்தர கால செலவு கட்டமைப்பு News Today : Breaking News, Live Updates & Top Stories | Vimarsana

8 min read The Nigerian government’s repeated decision to turn to the Central Bank of Nigeria (CBN) for deficit financing of its budgets continues to generate ripples about the state of public finance management and fiscal stability in Africa’s largest economy. Apart from its struggles to stabilise the foreign exchange market and control inflation, the Nigerian apex bank has remained a source of cheap deficit financing for the Nigerian government in recent years, leaving analysts concerned about what the practice portends for the economy. The government reported a revenue shortfall of about 27 per cent in 2020, as the coronavirus pandemic affected global demand for oil and prices slumped. The attendant lockdown, flight restriction, and related disruptions affected the nation’s mainstay, raising the need to borrow to fund the budget.

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