The World Bank has said that interest payments on the Nigerian government’s borrowing from the Central Bank of Nigeria (CBN) will gulp over 62 per cent of revenue by 2027.
The international financial organisation made this known in the latest edition of its Nigeria development update (NDU) titled, ‘Nigeria’s choice’.
The Nigerian government has been borrowing from the CBN through ways and means advances, a loan facility through which the CBN finances the government’s budget deficits.
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