Following Senate’s rejection of the external borrowing proposal from the presidency on Tuesday, the ministries of Finance and Budget and National Planning as well as the Debt Management Office, DMO, have commenced plans to represent the matter to the senate in a more detailed manner.
Nigeria’s Debt Management Office, DMO, has said that the maximum amount of money the country can comfortably borrow in 2017 is $22.08 billion, as anything more will violate the country-specific threshold.
Statistics from Nigeria’s Debt Management Office, DMO, shows that the country’s debt profile stood at N16.29 trillion in June this year, indicating a N4.17 trillion increase from the N12.12 trillion it was in June 2015.
