John Adams, Minna

Niger government has concluded plans to establish a Debt Management Bureau for effective management of its debts.

The total debt profile of the state from bonds entered into by the previous administration in the state, bailout fund and budget support funds from Federal Government stands at between N60 billion to N65 billion.

Commissioner for Finance, Alhaji Zakari Abubakar, who disclosed this in Minna also said government would soon grant full autonomy to the procurement board.

To this end, two bills – the establishment of the  Debt Management Bureau and the Niger State Procurement Board – will be sent to the House of Assembly for passage into law soon

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However despite the huge debt the Ccommissioner said “the state debt sustainability ratio is still in the lower 20% threshold. We are doing everything possible to keep the debt within manageable level, our debt profile in terms of sustainability is the best in the country.”

The commissioner said for proper debt management and to strengthen debt management processes, government has decided to set up a debt management bureau, which he said will give clear processes to the debt of the state.

He said chairman of the Board will be expected to go through the screening and obtain confirmation of the House of Assembly as one of the steps to guarantee its autonomy.

Other members of the Board will be representatives of the Ministry of Justice, Local Government, Planning and the Organised Labour.

He added that plans to operate the procurement board electronically has reached an advanced stage.