DMO DG , Patricia Oniha

By Ngozi Onyeakusi—-The Director General of the Debt Management Office (DMO), Patience Oniha, has clarified why the government continued to borrow, saying that without that , it will be practically difficult for government to finance the yearly budgets.

Oniha gave the clarification at the public Consultative Forum on the draft Federal Government 2023 – 2025 Medium Term Fiscal Framework and Fiscal Strategy, in Abuja.

The DMO boss stressed that the benefits of the borrowings cannot be over-emphasized based on the capital projects the borrowed funds were being used to finance, adding that “Nigerian public should be more concerned about raising the government’s revenues as growing the revenues remains the best solution to reducing borrowing by the government.”