DMO raises N3.3tr to fund 2022 budget deficit

The Debt Management Office (DMO) said it has helped the Federal Government raise N3.3 trillion from the domestic market to finance 2022 budget deficit.

The DMO was given a target of N3.56 trillion revenue to finance the 2022 budget deficit.

Director General of the DMO Ms Patience Oniha told journalists in Abuja that current efforts to raise funds from the domestic market will not crowd out private investigators

According to her: “Government borrowing from the domestic market does not crowd out private sector investment in any way”.

Asked if government is not worried that borrowing to fund its 2023 budget could be impeded by the avalanche of tightening measures in the local and International markets, Oniha said: “it’s difficult to predict the outcome of the market ahead of 2023, which is Nigeria’s election year”.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.