Reconstruction of 36 states debt data base to end by 2012 --- DMO

Dr Abraham Nwankwo
The DMO Director- General

Reconstruction of 36 states debt data base to end by 2012 --- DMO

Nigeria’s Debt Management Office (DMO) has said that reconstruction of the domestic debt data base of the 36 states will be completed before the end of 2012.

The DMO Director- General, Dr Abraham Nwankwo, made this known while addressing reporters at a workshop on application of Microsoft Excel (a computer software) for effective sub-national debt management for state debt officers, on Monday in Abuja.

He explained that the officer had reconstructed the debts of 24 states and would go ahead to reconstruct the debts of the other states.

Understanding debt profile

Nwankwo said that the reconstruction was essential to enable the states have authentic data base like what was obtainable at the federal level.

He said it would help the states to know their debt profiles to various organisations.

“We will work with them, assemble their files, collect the data, verify and authenticate, so that we can reconstruct their domestic debt data base. This will ensure that when we talk about the total federal public debt, we are talking about authentic, verified and reliable domestic debt data for each of the states,” he emphasised.

He said that the workshop would hold in three batches for three weeks and that 12 states were presently participating in the first batch of the training.

Skills reinforcement

The Director, Strategic Programmes Department of the DMO, Mrs. Funmi Ilamah, said the workshop would empower officers in the use of key elements of Microsoft Excel as a tool for debt recording and reporting.

Ilamah pointed outthat it would be difficult to have a complete sustainable debt position as a nation if the states lack strong competences and capability in a federal system.

NAN/Hauwa Abu/Williams