DMO raises N410bn to finance 2018 budget

Director-General of the Debt Management Office (DMO), Ms Patience Oniha.

The Debt Management Office (DMO) has raised N410 billion from the domestic capital market to fund the 2018 budget.

The Director-General of the DMO, Ms, Patience Oniha, disclosed this at a press briefing in Abuja on Tuesday.

She also revealed that the nation’s public debt stood at N22.37 trillion as at end of June ($73. 31b) of which $22 billion was external.

The DMO boss said, however, that the debt was still sustainable and that her team’s Debt management Strategy has crashed interest rate to a region of 11- 14 percent from about 18 percent last year.

Details of the briefing will be communicated later…

Amaka E. Nliam