DMO Raises N410 Billion To Finance 2018 Budget

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The debt Management Office (DMO) has raised N410 billion from the domestic capital market to fund the 2018 budget.

The Director-General of the DMO, Ms, Patience Oniha, disclosed this at a press briefing in Abuja on Tuesday.

She also revealed that the nation’s public debt stood at N22.37 trillion as at end of June ($73. 31b) of which $22 billion was external.

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The DMO boss said, however, that the debt was still sustainable and that her team’s Debt management Strategy has crashed interest rate to a region of 11- 14 percent from about 18 percent last year.

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