Tuesday, 18 September 2018 09:13

Press Release: DMO Explains Borrowing From China

The Debt Management Office (DMO) has observed that there have been various comments in recent times about borrowing by developing countries from China. The comments seem to have become heightened following the recent summit of the Forum on China-Africa Cooperation and claims of potential seizure of national assets by Chinese lenders in some African countries even though the claims have not been validated. The DMO has therefore considered it necessary to inform Nigerians about the Government’s borrowing from China. Firstly, it should be noted that based on need, and subject to the receipt of requisite approvals, the Government may raise capital from several Domestic and External sources to finance capital projects, in order to promote economic growth and development, as well as, job creation. Click Here For More