The Debt Management Office (DMO) said on Thursday the Federal Government used loans secured from multilateral lenders as a tool for economic recovery, IgbereTV reports
The Director-General of the DMO, Patience Oniha, stated this in a keynote address at the fourth national budget roundtable and panel discussion at Covenant University, Ogun State.
She said Nigeria’s current debt profile to Gross Domestic Product (GDP) ratio was 22 percent, lower than the 40 percent stipulated for developing countries by the World Bank and International Monetary Fund (IMF).
She stressed that the critical infrastructures built by the Federal Government were funded with internal and external borrowings
