Debt Management Office
DMO
About
The Debt Management Office (DMO) is a Nigerian federal government agency responsible for centralising the management of Nigeria's public debt. It advises the Federal Government on public debt management, raises funds through domestic and external sources, and maintains a database of public debts.
History
The DMO was established on 4 October 2000 in response to difficulties in Nigeria's debt portfolio, including high external and domestic debt, substantial debt service obligations, low external reserves, and weak institutional capacity. It followed recommendations from the Debt Management Department of the International Monetary Fund after an assessment of Nigeria's debt situation in 1999, which called for a single agency responsible for all aspects of public debt management. Initially an autonomous unit within the Presidency, the DMO was transferred to the Ministry of Finance in 2001 and became a full parastatal in 2003. Its operations are guided by the Fiscal Responsibility Act 2007 and the DMO Establishment Act 2003.
Key Facts
Established
4 October 2000
Headquarters
447/448 Constitution Avenue Central Business District, Abuja
Director-General
Patience Oniha
Jurisdiction
Federal Government of Nigeria
Abbreviation
DMO
Website
dmo.gov.ng