DMO Puts Nigeria’s Debt Profile At N25.7trn - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Editor 2
November 22, 2019
The Debt Management Office, DMO saysthat Nigerian’s total debt profile is 25.7 trillion naira.
The Director-General of the office,Patience Oniha announced this while addressing House of RepresentativesCommittee on Public Account in Abuja.
She said that external borrowingaccounted for about 32 per cent of the total debt while the 68 per cent wasdomestic.
The Director General explained thatthe office is an agency of government which began operations in 2000 followingthe country debt management problems of the country which led to the debtrelief.
She said that the agency wasresponsible for the management of public debts and its mandate includescontracting debts on behalf of the Federal Government. According to thedirector-general, this is clear under the Fiscal Responsibility Act andprovisions in the DMO Act.
The Chairman of the committee, WoleOke said that it was important for parliament to have all the relevantinformation documented.