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Nigerians must benefit from $1bn Euro Bond – Sambo tasks DMO

By on July 28, 2013

Vice President, Namadi Sambo has commended the Debt Management Office (DMO) for successfully floating the $1billion Euro Bond, and directed that proceeds from there should be channelled towards specific projects meant to touch the lives of Nigerians.

Speaking on Friday at the State House, Abuja, when he chaired the 14th meeting of the Supervisory Board of the DMO, Sambo stressed that Nigerians should feel the impact of the success in terms of investments in road and rail construction, oil and gas, power, healthcare delivery, education and agriculture.

The vice president also commended the plan of the DMO to construct its head office, using the Public Private Partnership (PPP) initiative of the federal government.

“I congratulate the DMO for being able to put up a building under PPP, this is the direction that government is taking.

“You should expedite action so that other government agencies can borrow from DMO on how to achieve government accommodation, on a PPP basis.

“With this initiative government does not need to be spending money anymore to build offices,” he stated.

The Director-General of DMO, Abraham Nwankwo, had disclosed that based in the success of the Euro Bond which was fully subscribed to, the Office was making efforts to float a $100 million Diaspora Bond.

Nwankwo also stated that the building of DMO’s official headquarters project, which would require zero financial contribution from government, has already got a ‘no objection’ certificate from the Infrastructure Concession and Regulatory Commission (ICRC).

According to him, partnering with the PPP initiative would be done through competitive bidding in line with government regulations.



[Daily Independent]