Nigeria - Sub-National Debt Management Capacity Building Project (SUBDMO)


Project Summary

Approval Date 24 Jan 2017
Signature Date 22 May 2017
Planned Completion Date 31 Dec 2019
Last Disbursement Planned Date 31 Dec 2019
Sovereign / Non-Sovereign Sovereign
Sector Multi-Sector
DAC Sector Code 15110
Commitment U.A 795,789
Status Implementation

Project General Description

The Sub-National Debt Management Capacity Building Project (SUBDMO) is designed by the Federal Government of Nigeria through the Debt Management Office (DMO) with the support of the African Development Bank’s (AfDB) Middle Income Country Technical Assistant Fund (MIC-TAF). One of the major priorities of the DMO after the successful exit was the enthronement of sound public debt management practices at the sub-national level. This drive was informed by the desire to strengthen and entrench sound public debt management skills and practices at the sub-national levels as a way of ensuring that Nigeria does not relapse into debt unsustainability that bedeviled the economy prior to Paris and London Club debt exits. The present project entails the procurement of two (2) international consulting firms to serve as Debt Management Capacity Building Consultants (DMCBCs) for three Southern and three Northern zones of Nigeria.

Project Objectives

The project's objectives include: (i) equipping State and Federal Capital Territory (FCT) debt managers with the skills and knowledge to undertake annual Debt Sustainability Analyses (DSAs) at the sub-national level; (ii) building the capacity of Nigeria's Government departments and agencies to assist in debt management and coordinate AfDB’s efforts effectively with the DMO; and (iii) ensuring that high-level officials, including arrangements at both the federal and state levels are aware of key challenges and opportunities in this area as well as ongoing efforts led by the DMO.

Beneficiaries

The target beneficiaries are the staff of the Debt Management Office (DMO) and Debt Management Department (DMDs) in all the States of the Federation and FCTs. Policy makers and legislators involved in debt issues in the States will also benefit from the Sensitization workshop.

Participating Organization

Funding
Middle Income Countries Fund
Implementing
Federal Ministry of Finance/ Debt Management Office (DMO)

Information

IATI identifier 46002-P-NG-KF0-003
Last Update 31 Oct 2019

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Contact Details

Name OKPE Bernard
Email b.okpe@afdb.org

Geographic Location

Country Nigeria