19 November 2012

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.

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