Debt Service
DMO: Nigerian roads financed with Sukuk not repaying debt as planned
File Photo The Debt Management Office (DMO) has decried the country’s debt service to revenue ratio, describing it as a major issue of concern. Patience Oniha, the Director-General of DMO, said this in Abuja on Thursday at the fifth Budget Seminar (webinar) organised by the Securities and Exchange Commission (SEC). The theme of the budget seminar was, “Financing Nigeria’s Budget and Infrastructure Deficit through the Capital Market.” Oniha stressed the need for infrastructure built with borrowed funds to generate revenue to service the debts. According to her, “We have done the Sukuk, for instance, but the government is the one servicing the debt of those Sukuk. “They (the debts) are not being serviced with revenue from those sources (infrastructure). “I think that when we are talking abou...
National Assembly leadership meets finance minster over 2020 budget amendment
The Leadership of the National Assembly on Thursday met with the Minister of Finance, Budget and National Planning to be briefed by the latter on the plan by the Federal Government to amend the N10.59 trillion 2020 budget passed by the National Assembly in December last year. The meeting which had in attendance principal officers from both chambers, was presided over by the President of the Senate, Ahmad Lawan, and the Speaker of the House of Representatives, Femi Gbajabiamila. The Senate President, in his welcome address told the Executive arm of Government to ensure that the interest of Nigerians remains protected in the proposed cut to the 2020 national budget. Lawan also expressed the willingness of the Federal lawmakers to expeditiously consider the proposed amendment to the 2020 budg...
