Some countries including
Uganda, Sudan, Zambia and Zimbabwe have approached Nigeria for their debt
management offices, central banks and national planning to understudy Nigeria’s
experience in public debt management, as the country’s DMO has become a model
in Africa, ITRealms reports.
Information reaching ITRealms has it that Uganda had twice visited Nigeria for
same reasons, which had impacted efficiently on the economy of the East African
country.
The first was in November 2006 when a delegation
came to learn from Nigeria’s debt management office model as basis for
institutional arrangement, towing same line, a delegation from Sudan also came
on a study tour to Nigeria on two occasions.
Disclosing this, the
President of Heritage Savings, Mr. Adegboye Ikiola, who has a deep knowledge of
the workings of DMO, said‘’The first delegation came in
December 12-16, 2005. Similarly, another delegation from the External Debt
Management Unit in the Central Bank of Sudan and Domestic Debt Unit in the
Ministry of Finance of the same country, visited the DMO for a month secondment
programme from Monday, June 23 - Tuesday July 15, 2014.
The core objectives of
both visits by the Sudanese teams, ITRealms
gathered, were to learn from the Nigeria’s debt relief and restructuring phases
as well as Nigeria’s debt management experiences prior to the establishment of
the DMO.’’
Another instance, he
said, was a visit by: “A delegation from the Ministry of Finance and National
Planning of the Republic of Zambia which
undertook a one-week study tour of the Debt Management Office in Nigeria, from
20th - 24th September, 2009. The purpose of the study tour was to enable the
Zambians learn how the Debt Management Office, Nigeria is structured, the
functions of the Office and how it carries out its responsibilities of managing
the country’s public debt and issuance of the FGN Bonds.’’
‘’I can continue with
the examples, because we have to understand what the DMO is doing at this time.
A seven-man team from the Zimbabwe Aid
and Debt Management Office (ZADMO) in the Ministry of Finance of
Zimbabwe visited the DMO for a week study tour from July 17 to 27, 2011 to
understudy the processes of establishing and running an effective debt
management office in its efforts to set up a centre of excellence in debt
management in Zimbabwe.’’
Industry players are of
the opinion that given the successes of the DMO the Nigerian model should be
extended to other African countries to emulate in order to strengthen
their debt management
profiles.They are as well quick to add that the Office should be encouraged to
sustain the training and equipping of her staff for the challenges ahead,
particularly in this period that our nation is facing some economic challenges,
ITRealms learnt.
CyiacusNnaji/GEE
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