Fidelity bank banner UBA banner
DMO injects N400bn into the economy

By Oluwafunke Ishola on 13/04/2018

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 934

•DMO DG Patience Oniha
•DMO DG Patience Oniha

 

Mrs Patience Oniha, Director-General, Debt Management Office, said in Lagos on Friday that the Federal Government had released about N400bn government securities into the economy to service its debt and improve liquidity.

Oniha made the assertion at the 2nd Vanguard Economic Discourse tagged; “Economy in Rebound: Pitfalls, Trajectories and Resetting.”

She said the fund was government’s strategy to reduce its debt profile and reduce interest rate on government’s lending from 18 per cent to 14 per cent.

Oniha explained that this would improve the ability of financial institutions to lend to the real sector.

She, however, wondered why the benefits of government’s reduced borrowing through the funds released from December till date were not reflecting in increased funding to the real sector.

According to her, there is an urgent need for reforms on population, infrastructure development, and scaling up actions to meet the expectations of the citizens.

Also speaking, Mr Tony Okpanachi, Managing Director, Development Bank, said the bank would collaborate with financial institutions to work out modalities to finance new entrepreneurs.

According to him, the bank will provide more funds to bridge the gap of long term financing for Micro, Small and Medium Enterprises, to create more jobs.

He noted that the nation’s youthful population would be leveraged upon to increase government revenue, taxes and production.

Mr Kyari Bukar, Chairman, Nigerian Economic Summit Group (NESG), described 2016 as the worst recession in the recent history of Nigeria.

According to Bukar, the 2017 recession was over and Nigeria was on the path of recovery.

“Without doubt, in 2018, there will be a sustainable growth of the economy,” he said.

Mr Gbenga Adefaye, Editor-in-Chief, Vanguard Newspapers, noted that data from the National Bureau of Statistics, Central Bank of Nigeria and some research organisations pointed to positive macroeconomic indices. (NAN)

Source News Express

Posted 13/04/2018 9:46:41 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Blueprint on agric sector ready in 2 weeks...

Professor, 5 others die in accidents

Why I sacked service chiefs —Jonathan finally opens...

EFCC arraigns Ex-NIMASA DG, 9 others for alleged...

We’ll ensure that Nigerians benefit from shipping –...

Warri residents protest poor electricity, outrageous billing

Of Tambuwalism and Buhari’s headaches, By Olusegun Adeniyi...

Inside Fulani settlements in Kebbi

Osun Osogbo: Ataoja assures tourists of adequate security...

NDDC begins rehabilitation of Owerri-Port Harcourt Road

BBC World Service Hausa Service website now to...

UNILORIN dismisses fraud allegation against VC, JAMB Registrar...

 

Latest News 2023: No Igbo presidency, no Nigeria — South East activists Labour unfolds plans to disgrace debtor-governors Tension in South East as Police, IPOB engage in show of force Bandits kill 22 in fresh Zamfara attack Rivers Tragedy: Father kills four children, sets home ablaze, hangs self Ndigbo must return home during elections — MASSOB Nigerians open one million bank accounts monthly: NIBSS Déjà vu: I fear it will be unto Buhari as it was unto Jonathan in 2015, By Fredrick Nwabufo Heirs Holdings signs $600m facility deal with Afrexim Bank, poised to scale up energy investments Delta First Lady calls for lasting solution to challenges facing education sector Why Atiku was absent at signing of Peace Accord — PDP Disquiet in Zaria as DISCO disconnects city

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (429,796 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (394,739 views) Shameless Genevieve Nnaji exposes breasts in public (327,636 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (280,962 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (247,785 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (229,229 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (212,055 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (193,268 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (179,539 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (170,402 views) Lagos plane crash: Journalist releases victims’ names (167,196 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (153,667 views)

 

Zenith Zero Balance First Bank chat banking

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (76) Business & Economy (3,874) Business Verdict (54) Columnists (972) Complaints & Requests (95) Enterprise & Opportunities (208) Entertainment (575) Features (679) Global Business Monitor (312) International (2,810) Interview (167) Live Commentary (28) Love Matters (146) Maggie's Blog (69) News (41,366) Opinion (1,150) Pidgin (13) Politics (8,132) Religion (911) Sports (1,817) Stock Watch (35) AMA & Al Jazeera Global Update

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera