ZMSG denies taking N14.2b loan

GUSAU- The Zamfara government on Monday denied taking a N14.2 billion loan as indicated in a report by the Debt Management Office (DMO). A statement issued in Gusau on Monday by Sulaiman Idris, Senior Special Assistant to the governor on Media and Publicity, debunked the claim it described as false. “This is to clarify the DMO report which said that the Zamfara state government borrowed N14.26 billion naira. “The Zamfara government has never applied for loan or approached the State Assembly or National Assembly with such request,” Idris said. According to the statement, the sum of 14.26 billion, as stated in the DMO report, was not borrowed by Gov Lawal’s administration. “The amount was part of the proceeds from a 20 billion naira loan floated by previous administrations in the state. “No domestic or external loans have been borrowed since Gov Dauda Lawal came in. “It is important to note that the previous Zamfara state government floated a N20 billion bond but failed to collect the total amount. “The immediate past government received N4 billion naira out of the N20 …

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DMO: How Nigeria Borrowed N6.64trn, Serviced Debt With N2.93trn In 2021

By Ogechi Okorie Abuja (Precise Post) – The Director General, Debt Management Office (DMO) Patience Oniha on Thursday said Nigeria’s total public debt stock increased to N39.56tn in 2021 from N32.92tn in 2020. Oniha who stated this at a media briefing in Abuja, said the total debt includes new borrowings by the Federal Government and the sub-nationals. She also said that the amount helped in financing the budget deficit, capital projects and support economic recovery. The Director General said, “Nigeria’s total public debt as at December 31, 2021, was N39.56tn or $95.78bn. The amount represents the total external and domestic debts of the Federal Government of Nigeria, 36 state governments and the federal capital territory. “The comparable figure for December 31, 2020, was N32.92tn or $86.39bn. The public debt stock for December 31, 2021, includes new borrowings by the FGN and the sub-nationals. For the FGN, it would be recalled that the 2021 appropriation and supplementary acts, included total new borrowings (from domestic and external sources) of N5.49tn to part-finance the deficit. “Borrowings for this purpose and disbursements by the …

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