By Chrystal NK Chukwudebe
WED 07 JULY, 2021-theGBJournal- Nigeria’s Debt Management Office (DMO) today issued a statement suggesting it is still awaiting the National Assembly’s resolution before going ahead with the N2.343 trillion new capital raising provided in 2021 Appropriation Act.
President Muhammadu Buhari on May 18, 2021, submitted a letter to the National Assembly (NASS) requesting for a resolution on the new capital raising to fund critical infrastructure and other priority projects across the country.
‘’In light of the President’s letter, the Senate and the House of Representatives assigned their respective oversight Committees on Public Debt-the Senate Committee on Local and Foreign and the House of Representatives Committee on Aids, Loans and Debt Management, for further consideration of the President’s request.’’
The DMP noted in their release that the two Committees are expected to present reports of their deliberations at a Plenary Session to the two chambers of the NASS to consider and approve the issuance of the resolution as required by the DMO Act, 2003.
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