The Debt Management Office, DMO says that Nigerian’s total debt profile is 25.7 trillion naira.
The Director-General of the office, Patience Oniha announced this while addressing House of Representatives Committee on Public Account in Abuja.
She said that external borrowing accounted for about 32 per cent of the total debt while the 68 per cent was domestic.
The Director General explained that the office is an agency of government which began operations in 2000 following the country debt management problems of the country which led to the debt relief.
She said that the agency was responsible for the management of public debts and its mandate includes contracting debts on behalf of the Federal Government. According to the director-general, this is clear under the Fiscal Responsibility Act and provisions in the DMO Act.
The Chairman of the committee, Wole Oke said that it was important for parliament to have all the relevant information documented.
