By Abimbola Ogunnaike
Debt Management Office has disclosed t that the Federal Government has raised N4.9 trillion from N7.3 trillion Ways and Means Central Bank of Nigeria advance.
The Director General of DMO, Patience Oniha, made this disclosure on Monday, 20 May, 2024 in Lagos State at an interactive session with primary dealers in Federal Government securities markets.
Oniha noted that domestic securities remain a major source of federal government spending.
“Last year, we raised N7 trillion as new domestic borrowing. It speaks to the domestic market’s size, resilience, and sophistication, unlike in many African markets.
“Out of the new domestic borrowing of N6 trillion, we have raised N4.5 trillion. For the Ways and Means, out of seven trillion approved for securitization, we have raised N4.905 trillion.
“The financial sector has come a long way, and this is another strategic meeting to chart a way forward.”
In December last year, the Senate approved securitization of N7.3 trillion ways and means outstanding debts.
