Nigerian Government Pays N4.12tn Interest On CBN Loan 

The Federal Government paid interests of N4.12tn between 2019 and 2022 on the loans it got from the Central Bank of Nigeria through Ways and Means Advances. <br />Data from the Medium-Term Expenditure Framework and Fiscal Strategy Papers and the public presentation documents of the approved budgets by the Ministry of Finance, Budget and National Planning. <br />The interest payments rose to N912.57bn in 2020 and N1.22tn in 2021. <br />The interest payments hit N1.64tn in 2022, indicating the payments rose by 384.14 per cent between 2019 and 2022.