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Loans from the Chinese government to Nigeria increased from $1.465 billion in the first quarter (Q1) of 2016 to $3.593 billion in the third quarter (Q3) of 2021. This is a 145.27% increase in China loans over the period.
The 2022 budget deficit as a percentage of the GDP is 3.46% which exceeds the 3% benchmark set by the Fiscal Responsibility Act.
As of November 2021, N496.17 trillion was given out as domestic credit after necessary deductions in Nigeria. Data shows that the net domestic credit given out increased steadily over the months.
