{"id":87096,"date":"2023-04-29T21:21:04","date_gmt":"2023-04-29T20:21:04","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/cbns-net-domestic-credit-rose-to-n70-6trn-in-march"},"modified":"2023-04-30T00:36:25","modified_gmt":"2023-04-29T23:36:25","slug":"cbns-net-domestic-credit-rose-to-n70-6trn-in-march","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/cbns-net-domestic-credit-rose-to-n70-6trn-in-march","title":{"rendered":"CBN\u2019s Net Domestic Credit rose to N70.6trn in March"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>Amid the growing debt burden, the Central Bank of Nigeria\u2019s Net Domestic Credit rose to N70.6 trillion in March from N70.2 in February.<\/p>\n

The figure represented 0.56 per cent on a monthly comparison.<\/p>\n

Data from the Central Bank of Nigeria\u2019s Money and Credit statistics released on Friday showed that the credit to the government and private sector resulted in a net domestic credit of N70.6 trillion.<\/p>\n

On the one hand, the Bank\u2019s net credit to the government fell by 3 per cent to N27.5 trillion in March 2023 from N28.4 trillion in February.<\/p>\n

Conversely, credit to the private sector rose monthly by N1.6 trillion, representing 4 per cent to N43.06 trillion in March 2023 from N41.5 trillion in February.<\/p>\n

According to the International Monetary Fund, Net Domestic Credit is the sum of net claims on the central government and claims on other sectors of the domestic economy.<\/p>\n

Recall that the Debt Management Office, DMO, said Nigeria\u2019s total debt stock was N46.25 trillion at the end of December 2022.<\/p>\n

Meanwhile, economic experts have continued to lament Nigeria\u2019s growing debt profile, saying it raises economic uncertainties.<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. Amid the growing debt burden, the Central Bank of Nigeria\u2019s Net Domestic Credit rose to N70.6 trillion in March from N70.2 in February. The figure represented 0.56 per cent on a monthly comparison. Data from the Central Bank of Nigeria\u2019s Money and Credit statistics released on Friday showed that the credit to […]<\/p>\n","protected":false},"author":84,"featured_media":87095,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[1570,2140,503,10326,254],"class_list":["post-87096","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-nigeria-2","tag-cbn","tag-net-domestic-credit","tag-nigeria"],"yoast_head":"\nCBN\u2019s Net Domestic Credit rose to N70.6trn in March - Nigeria<\/title>\n<meta name=\"description\" content=\"Amid the growing debt burden, the Central Bank of Nigeria\u2019s Net Domestic Credit rose to N70.6 trillion in March from N70 ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbns-net-domestic-credit-rose-to-n70-6trn-in-march\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBN\u2019s Net Domestic Credit rose to N70.6trn in March\" \/>\n<meta property=\"og:description\" content=\"Amid the growing debt burden, the Central Bank of Nigeria\u2019s Net Domestic Credit rose to N70.6 trillion in March from N70 ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbns-net-domestic-credit-rose-to-n70-6trn-in-march\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-29T20:21:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-29T23:36:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/04\/postQueueImg_1682787071.77.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbns-net-domestic-credit-rose-to-n70-6trn-in-march#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbns-net-domestic-credit-rose-to-n70-6trn-in-march\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"CBN\u2019s Net Domestic Credit rose to N70.6trn in March\",\"datePublished\":\"2023-04-29T20:21:04+00:00\",\"dateModified\":\"2023-04-29T23:36:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbns-net-domestic-credit-rose-to-n70-6trn-in-march\"},\"wordCount\":206,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbns-net-domestic-credit-rose-to-n70-6trn-in-march#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/04\/postQueueImg_1682787071.77.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"CBN\",\"Net Domestic Credit\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbns-net-domestic-credit-rose-to-n70-6trn-in-march#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbns-net-domestic-credit-rose-to-n70-6trn-in-march\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbns-net-domestic-credit-rose-to-n70-6trn-in-march\",\"name\":\"CBN\u2019s Net Domestic Credit rose to N70.6trn in March - 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