Debt Management Office (Nigeria)

The Debt Management Office (DMO) of Nigeria is an agency of the Federal Government of Nigeria responsible for centrally managing the country's debt. It was established on October 4, 2000, to consolidate debt management functions that were previously scattered across various government ministries, departments, and agencies.

The primary objectives of the DMO are to:

• Manage Nigeria's debt: This involves developing and implementing strategies for borrowing, repayment, and restructuring of public debt, both domestic and external, to minimize costs and risks.
• Develop the domestic debt market: The DMO plays a crucial role in developing and deepening Nigeria's domestic debt market by issuing government securities, such as treasury bills and bonds, and promoting market transparency and efficiency.
• Ensure debt sustainability: A key objective is to ensure that Nigeria's debt burden remains sustainable in the long term by conducting debt sustainability analyses and providing advice to the government on appropriate borrowing levels.
• Build capacity: The DMO works to build capacity within the Nigerian public sector for effective debt management.

The DMO reports directly to the Minister of Finance. It plays a vital role in the macroeconomic stability of Nigeria by ensuring that the government's borrowing needs are met in a prudent and cost-effective manner, while also contributing to the development of the country's financial markets. The DMO publishes regular reports and data on Nigeria's debt profile and debt management activities, contributing to transparency and accountability.