June 18, 2024
N4.9trn Raised For Ways and Means Securitisation, Says DMO
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N4.9trn Raised For Ways and Means Securitisation, Says DMO

The Debt Management Office, DMO, says it has raised N4.9 trillion out of the N7.3 trillion approved for Ways and Means securitisation.

Speaking on Monday during an interactive session with primary dealers in the Federal Government securities market in  Lagos, Patience Oniha, DMO’s Director-General, also said

N4.5 trillion has been raised to partly finance the N6 trillion budget deficit.

She said the domestic financial market remains a major source of funding for the Federal Government.

READ ALSO: Naira Strengthens Against Dollar At Parallel, Official Markets

According to her, when the international markets were closed during the COVID-19 period, the government was able to raise the full amount needed to fund the budget.

On December 30, 2023, the national assembly approved President Bola Tinubu’s request for the securitisation of outstanding N7.3 trillion ways and means debt balance.

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