MON 29 NOV, 2021-theGBJournal- Although Nigeria has benefitted from increased borrowings through the cushioning of adverse economic impacts post-recession, there remains a vital need for an expansive growth in the country’s revenue generation according to the DG Debt Management Office (DMO), Ms. Patience Oniha.
The DG made this remark at the Workshop on Executive Leadership for the Senate Committee on Local and Foreign Debts and the House Committee on Aids, Loans and Debt Management in Abuja on November 29, 2021.
While highlighting the need for the Workshop at this period, DG Oniha explained the stringency employed by the DMO in the management of public debt at both national and sub-national levels in compliance with the Debt Management Office Establishment (Etc.) Act, 2003, the Fiscal Responsibility Act, 2007 and the resolutions of the National Assembly where provided.
To this effect, the DMO has made significant strides in meeting the government’s financing requests, expanding the domestic capital market and enabling access into the International Capital Market for Nigerian corporations.
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