{"id":10398,"date":"2018-07-04T19:44:18","date_gmt":"2018-07-04T19:44:18","guid":{"rendered":"https:\/\/everyday.ng\/?p=10398"},"modified":"2018-07-04T19:44:18","modified_gmt":"2018-07-04T19:44:18","slug":"nigeria-has-a-subsisting-debt-management-strategy-dmo","status":"publish","type":"post","link":"https:\/\/everyday.ng\/?p=10398","title":{"rendered":"Nigeria has a subsisting Debt Management Strategy &#8211; DMO"},"content":{"rendered":"<p>By <strong>Chinenye Onu<\/strong>, Debt Management Office, NDIC Building, Central Business District, Abujja<br \/>\nThe Debt Management Office (DMO) on Wednesday refuted a report published by a national daily that the country had no debt management strategy.<br \/>\nThe Director-General of DMO, Ms. Patience Oniha, in a statement issued by the Office, disclosed that Nigeria has a subsisting debt management strategy.<br \/>\n\u201cContrary to the publication on the front page of the Newspaper of July 4, 2018, Nigeria has a duly approved Debt Management Strategy.<br \/>\n\u201cThe Debt Management Strategy was approved by the Federal Executive Council in June 2016 and has an expiry date of December 2019. The document is available on https:\/\/www.dmo.gov.ng\/publications\/other-publications\/debt-management-strategy,\u201d Oniha said.<br \/>\nShe advised the public to disregard the media report, adding that the Federal Government was implementing the nation\u2019s debt management strategy in full.<br \/>\nOniha said, \u201cThe publication is absolutely false and the claim that they obtained a confirmation from the Director-General of the Debt Management Office to the effect that the DMO was \u2018working on it\u2019 is also very wrong.<br \/>\n\u201cThe enquiry by the Newspaper was on the DMO\u2019s Strategic Plan (an institutional plan) and not the Public Debt Management Strategy. This action amounts to deception and manipulation of information.<br \/>\n\u201cThere is a difference between the Debt Management Strategy and the DMO\u2019s Strategic Plan. The Strategic Plan is a statement of the institution\u2019s Goals and Objectives as well as, the activities that will enable their achievements.<br \/>\n\u201cIt covers issues such as Human Resources, Technology, and Market Development amongst others. This contrasts very sharply with the Public Debt Management Strategy which is entirely about the strategies for managing the public debt to ensure that borrowing is prudent and the public debt is sustainable.\u201d<br \/>\nThe DMO Director-General disclosed that a new Strategic Plan that would deliver a new, robust and all-encompassing strategy was at its final stage of preparation.<br \/>\nAccording to her, a robust Strategic Plan became necessary due to developments in the macro-economy, the Economic Recovery and Growth Plan (ERGP) and the need to come up with creative ways to fund the Government in the face of lower Revenues.<br \/>\nThe old pattern for preparing a Strategic Plan, she added, would have been grossly inadequate.<br \/>\nShe said further that a new Strategic Plan for the DMO had to be prepared in a holistic manner to incorporate these developments and expectations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Chinenye Onu, Debt Management Office, NDIC Building, Central Business District, Abujja The Debt Management Office (DMO) on Wednesday refuted a report published by a national daily that the country had no debt management strategy. The Director-General of DMO, Ms. Patience Oniha, in a statement issued by the Office, disclosed that Nigeria has a subsisting [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":10399,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-10398","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"_links":{"self":[{"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/posts\/10398","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/everyday.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10398"}],"version-history":[{"count":0,"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/posts\/10398\/revisions"}],"wp:attachment":[{"href":"https:\/\/everyday.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/everyday.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/everyday.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}