Enugu Set To Establish Debt Management Office

Enugu

Governor Ifeanyi Ugwuanyi of Enugu State Photo: Childnow

Enugu State government is on the verge of establishing a Debt Management Office (DMO) in the state to manage her internal and external debts effectively and move the state forward economically.

This follows the submission of report on the bill that would allow for the provision of law for the establishment of the office by a joint committee on Finance and Appropriation, Public Accounts, Anti-Corruption, Judiciary, Public Petitions, Ethics and Privileges of the Enugu State House of Assembly on Tuesday.

The bill, which is an executive bill was presented by the leader of the House, Okechukwu Ezeugwu and has been pending since September last year.

Presenting the report on behalf of the Joint Committee, its Chairman, Chuks Eneh representing Udi South, said they conducted a public hearing on the bill before arriving at the report on the floor of the House.

Eneh emphasized on the importance of the bill as, “when passed into law will help the state to monitor its debts portfolio and determine when and how to pay back its debts.

“It will also help the state to manage its assets and liabilities, as well as, its stocks and securities effectively,” he said.

According to Eneh, important personalities and influential stakeholders attended the public hearing and made inputs that would help in the passage of the bill into law.

Meanwhile, the bill has passed first and second readings and was now waiting its third reading and the passage into law.

 


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Donatus Anichukwueze is a journalism graduate from the Lagos State University, School of Communication. He's a writer with a special interest in technology, sports, entertainment and politics. He's also a through-and-through Chelsea FC fan.


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