A
abujagirl
Guest
Nigeria’s rising debt profile was the major concern of the National Conference Committee on Public Finance as members sought to know the level of control the Debt Management Office (DMO) has on state governments as regards borrowing.
The Director General, Dr Abraham Nwankwo, insisted that borrowing and debt management are part of modern economy. He gave examples of countries like Germany and UK that have strong and frugal economy but still borrow. He was the first guest of the Committee.
In his presentation, he put the nation’s external debt at 9.16 billion dollars, with the states having approximately 2.8 billion dollars. According to him, States account for 18 per cent of domestic debts while the federal government accounts for 82 per cent.
Click source for more details: #PmNews
The Director General, Dr Abraham Nwankwo, insisted that borrowing and debt management are part of modern economy. He gave examples of countries like Germany and UK that have strong and frugal economy but still borrow. He was the first guest of the Committee.
In his presentation, he put the nation’s external debt at 9.16 billion dollars, with the states having approximately 2.8 billion dollars. According to him, States account for 18 per cent of domestic debts while the federal government accounts for 82 per cent.
Click source for more details: #PmNews