Site icon Nairametrics

FG to deploy new debt management strategy

Debt Management Office

Debt Management Office (DMO) has released a Federal Government’s new National Debt Management Framework (NDMF) 2018-2022. The framework is a debt management strategy that will be deployed for 4 years.

The new NDMF covered the period 2018-2022 and is expected to guide the activities and operations of Nigeria’s public debt management during the four-year period.

How the new framework will be deployed

The third NDMF covers the period of 2018-2022 and is expected to guide the activities and operations of Nigeria’s public debt management during the four-year period.

The framework included an assessment of the implementation of the NDMF for 2013-2017, in terms of realisation of its objectives and the challenges encountered on public debt management, as well as expectations for the future.

It stated that the third NDMF, 2018-2022, had been prepared with objectives which were to review the performance of the total public debt portfolio, in terms of costs and risks, by reference to the targets in the NDMF, 2013-2017; to implement aspects of the NDMF, 2013-2017, which were still relevant for the period, 2018-2022.

News continues after this ad

News continues after this ad

It would also incorporate the broad objective and the strategic objectives of the public debt function, as captured in the DMO’s strategic plan for 2018-2022.

The NDMF equally aimed to incorporate the subsisting debt management strategy, 2016-2019, including the various public debt targets; to reflect and incorporate developments in the domestic financial market and the international capital market; and to review the external and domestic borrowing guidelines for Federal, States, Federal Capital Territory, and their agencies.

About the NDMF

The National Debt Management Framework was designed to ensure that the government’s borrowing activities were conducted in accordance with statutory provisions and regulations, as well as international best practices.

Meanwhile, the DMO pegged Nigeria’s total debt at N22.43 trillion as at September 2018, an increase of 85.06 per cent when compared to its standing in June 2015, a month after President Muhammadu Buhari came into power.
Exit mobile version