156:) is a government agency established on 4 October 2000, tasked with centralizing the management of Nigeria's debt. It was created in response to challenges in Nigeria's debt portfolio, which included high external and domestic debt, substantial debt service, low external reserves, and weak debt management capacity.
204:
The DMO faces challenges related to managing the rising public debt stock, high domestic debt service costs, the decline in the share of external debt, the need for coordination and harmonization in debt management, improvements in the legal and institutional frameworks, and ensuring transparency and
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The DMO was established following recommendations from the Debt
Management Department (DMD) of the International Monetary Fund (IMF) after a comprehensive assessment of Nigeria's debt situation in 1999. The DMD suggested the establishment of a single agency responsible for all aspects of public debt
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The DMO achieved significant milestones by reducing
Nigeria's external debt stock, increasing external reserves, improving credit ratings, issuing internationally successful bonds (Eurobonds, Sukuk bonds, and Green Bonds), and strengthening debt management strategies. It enhanced the capacity of
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The primary functions of the DMO are to advise the
Federal Government on public debt management, raise funds through domestic and external sources, maintain an accurate database of public debts, service all public debts, manage associated risks, develop debt management strategies, promote the
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The DMO is led by a
Director-General, appointed by the President for a term of five years, with a possibility of a renewal for another five years. Three Executive Directors oversee the operational departments of the DMO: Market Development, Portfolio Management, and Policy Strategy and Risk
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Initially an autonomous unit within the
Presidency, the DMO was later transferred to the Ministry of Finance in 2001 and upgraded to a full parastatal in 2003. The legal framework for the DMO's operation includes the Fiscal Responsibility Act 2007 and the DMO Establishment Act 2003.
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Management. Additionally, there are four service departments: General
Services, Internal Audit, Legal Services, and Public Affairs. The DMO operates through six zonal offices situated in different regions to coordinate debt management at state and local government levels.
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public debt managers, provided education on public debt management, and maintained regular reports for public awareness.
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management, including policy formulation, strategy development, borrowing, recording, servicing, and reporting.
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domestic debt market, and collaborate with relevant stakeholders on public debt management issues.
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604:
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420:"External Reserves Accumulation and the Estimation of the Adequacy Level for Nigeria"
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93:
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495:"Nigerian govt releases N100 billion Sukuk Bond proceeds for 25 Road Projects"
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342:"President Buhari Appoints Patience Oniha as DG DMO – The Statehouse, Abuja"
599:
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368:"Buhari Approves Reappointment of Patience Oniha as DG of DMO"
573:"The impact of government debt on economic growth in Nigeria"
51:
447/448 Constitution Avenue
Central Business District, Abuja
520:"Sukuk Some Highlights of the N100 Billion Sovereign Sukuk"
571:
Yusuf, Abdulkarim; Mohd, Saidatulakmal (1 January 2021).
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470:"Nigeria redeems its first-ever 10-year $ 500m Eurobond"
318:"debt management office establishment (etc.) act 2003"
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444:"Fitch Assigns Nigeria 'BB-' Rating; Outlook Stable"
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125:Ministry of Finance, Budget and National Planning
98:Minister of Finance, Budget and National Planning
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546:"National Debt Management Framework 2008"
286:Counterparty., Another (21 March 2001).
288:"Guidelines for Public Debt Management"
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468:Ugbodaga, Mary (28 January 2021).
228:"Debt Management Office (Nigeria)"
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659:Organizations established in 2000
113:Patience Oniha, Director-General
649:2000 establishments in Nigeria
644:Government finances in Nigeria
629:Government agencies of Nigeria
577:Cogent Economics & Finance
550:Debt Management Office Nigeria
524:Debt Management Office Nigeria
1:
590:10.1080/23322039.2021.1946249
398:Center For Global Development
42:Federal Government of Nigeria
16:Nigeria's public debt manager
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639:Public finance of Nigeria
583:(1). Informa UK Limited.
394:"Nigerian Debt Relief"
150:Debt Management Office
20:Debt Management Office
634:Nigeria national debt
499:Premium Times Nigeria
346:The Statehouse, Abuja
87:Minister responsible
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121:Parent department
71:9.0667°N 7.4833°E
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25:Agency overview
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374:. 30 June 2022
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348:. 30 June 2022
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76:9.0667; 7.4833
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33:4 October 2000
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554:. Retrieved
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191:Achievements
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182:Organization
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94:Zainab Ahmed
48:Headquarters
38:Jurisdiction
258:"About DMO"
74: /
623:Categories
556:28 October
530:28 October
504:28 October
479:28 October
453:28 October
428:28 October
404:28 October
378:28 October
352:28 October
323:28 October
297:28 October
268:28 October
239:28 October
209:References
200:Challenges
609:2332-2039
262:About DMO
173:Functions
62:7°29′00″E
59:9°04′00″N
474:TheCable
372:Lawyard
160:History
131:Website
607:
30:Formed
423:(PDF)
233:Devex
605:ISSN
558:2023
532:2023
506:2023
481:2023
455:2023
430:2023
406:2023
380:2023
354:2023
325:2023
299:2023
270:2023
241:2023
148:The
138:.gov
595:hdl
585:doi
292:IMF
154:DMO
140:.ng
136:dmo
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.