This Day (Lagos)

Nigeria: DMO Justifies Debt

The Director- General Debt Management Office (DMO), Dr Abraham Nwankwo has observed that there is nothing wrong in borrowing as long as the proceeds are used for the purpose for which they are meant.

Dr Nwankwo stated this Monday while briefing State House Correspondents after a meeting of the Supervisory Board of the DMO headed by the Vice President Namadi Sambo.

According to him, borrowing and incurring debts are not an anomaly in so far as the money collected is used judiciously and appropriately accounted for in terms of project financing projects, provision of dividends of democracy to the people and the reduction of waste.

Ads by Google

Copyright © 2012 This Day. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.