Tag: Borrowing
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Why there is increased borrowing since 2015 – FG
The federal government has said the increased level of borrowing since 2015 was due to the collapse in revenues from crude oil. TheNewsGuru.com (TNG) reports Patience Oniha, Director General of the Debt Management Office (DMO), Nigeria made this known on Wednesday. She stated that the level of new borrowing started trending downwards from 2018 up…
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Atiku tackles Buhari: Endless Borrowing will lead to endless sorrowing
By Atiku Abubakar John Quincy Adams once said “there are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.” He may have very well been referring to Nigeria of the last three years. Barely two weeks ago, I warned during my Founder’s Day lecture at the…
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NLC expresses concern over Nigeria’s debt profile, warns against further borrowing
The Nigeria Labour Congress (NLC) has urged the Federal Government to be cautious on the issue of borrowing both within and outside the country. Dr Peter Ozo-Eson, NLC General Secretary, said this in an interview with News Agency of Nigeria on Monday in Abuja. “We now owe a debt stock in excess of N24 trillion…
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N56bn debt: ‘I will resign if you provide evidence of borrowing’, Fayose tells DMO
Governor Ayodele Fayose has challenged the Debt Management Office, DMO to provide evidence of his borrowing of N56 billion since assumption of office in 2014. TheNewsGuru.com reports that the DMO had earlier accused Governor Fayose of borrowing a total sum of N56 billion since coming to power on October 16, 2014. In its latest bulletin…
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Mounting debt profile: DMO bars states from further borrowing
…urges states to be more proactive in generating funds internally The old practice where States had easy access to borrowing from either foreign or local borrowing windows has now been halted. The new Director –General of the Debt Management Office (DMO), Ms. Patience Oniha made this disclosure yesterday in Abuja when the Edo State Governor,…