The bank in mondiale, its age December 2022 edition of the recently released Nigeria Development Update, noted that it anticipated that interest payments on federal government borrowings from the Central Bank of Nigeria ria will consume around 62% of government revenue by 2027 despite the restructuring plan.

The report published by the Bank mentions that “Despite the restructuring of the stock of ways and means in 2023, interest payments are expected to increase steadily by 2.4 percentage points of GDP between 2018 and 2027, and by 2027, payments of interest will represent more than 62% of revenue.” Indeed, PUNCH recently announced that the federal government had borrowed N6.31 billion from the CBN. .

In December 2021, federal government borrowings at CBN increased from 17.46 billion naira to 23.77 billion naira in October 2022. According to the Debt Management Office, the 23.77 billion naira owed to the umbrella bank by the federal government is not part of the country's total outstanding public debt, which stood at 44.06 billion naira in the third quarter of 2022.