By Kadiri Abdulrahman
Abuja, Dec. 16, 2025 (NAN) The Debt Management Office (DMO) said that its World Bank-assisted workshop on borrowing guidelines was designed to intimate subnational entities within Northern Nigeria on proper borrowing ethics.
The Director-General of the DMO, Patience Oniha, said this at the workshop on Borrowing Guidelines organised for top policy makers in Abuja on Tuesday.
He said that the workshop was under the aegis of States Action on Business Enabling Reforms (SABER).
He said it was important to align borrowing practices within the states with that of the Federal Government.
Oniha said that borrowing needed several layers of approvals and debt managers needed to understand why those approvals are required.
“Debt is such an important fiscal variable that involves several stakeholders, that is why we have a diverse group here.
“The objective is that after this workshop, your collaboration with your different states will be stronger.
“We need to keep empowering people with knowledge about creating skills so that work goes on smoothly.
“How do we make the process work? How do we make the subnational governments understand the process of borrowing so that they can raise the funds that they need for development?
“If they have not understood the process, they cannot comply and they cannot raise the funds,” she said.
Oniha said that the idea was to equip the states with all the skills and knowledge they needed, so that each time they want to borrow, they are ready and the process is smooth.
“Ultimately, the expectation is that the funds that they raise will be used for development in the state.”
She commended the World Bank for its interest in activities around public debt management in Nigeria.
“Debt is such an important fiscal variable that we cannot stop talking about it. We must get it right to make it sustainable.
“You can see what has happened to countries that have had to restructure their debts, the problems they went through; the downgrading by the international debt rating agencies; and their inability to borrow.
“Because debt is important, there are laws around borrowing. You want the borrowing process to be transparent, so it is not just one person that took the decision.
“The purpose has to be clear; the loan has to be properly documented; it should be monitored, it should be reported so that you can service it.
“When you do not service it, the consequences are not good. So, let us talk about debt sustainability. How will you know what to do? How will you know when to stop?” Oniha queried.
The Acting Head of Service, Federal Capital Territory (FCT), Mrs Nancy Nathan, described the workshop as an intersection of opportunity and responsibility.
Nathan said that the workshop was tied to equipping states and the FCT with the knowledge and tools necessary to navigate the complexity of the borrowing process
According to her, in a rapidly evolving economic landscape, access to finance is not just a necessity but a critical enabler for development.
“This workshop is aimed to demystify the borrowing process and clarify documentation requirements.
“It will empower our top policymakers to make informed decisions that will ultimately enhance our capacity to meet the financial needs of our respective states.
“As we embark on this journey of learning and collaboration, let us engage openly, share our insights, and push past limits that will drive our collective success,” Nathan said. (NAN) (www.nannews.ng)
Edited by Chidi Opara
