The 15-year partnership between the United Kingdom (UK) and Nigeria on debt management has been terminated today.
This was announced today after the Federal Government of Nigeria received reports on 15 years of strategic partnership between the UK-Department for International Development (DFID) and the Debt Management Office (DMO)-Nigeria.
The meeting held at State House in Abuja.
The government described the long partnership as “a case study of successful government-government partnership”.
Vice President Mohammed Namadi Sambo, who is also the Chairman of the DMO board while spaeking lauded the relationship between both countries saying the partnership was a peculiar example of how a Nigerian agency could maximise the benefits from a development partner support.
Sambo said: “The remarkable achievements of the DMO in recent years constitute an integral part of the Transformation Agenda of President Goodluck Jonathan’s administration whose principal objective is to ensure that the economic and social well being of our citizens are enhanced through sound economic management such as is being witnessed in the DMO’s commendable achievements.”
The Coordinating Minister of the Economy and the Minister of Finance, Dr Ngozi Okonjo-Iweala, narrated the historic events that led to the establishment of the DMO, saying the collaboration between the DFID and Nigeria had been a successful journey, which had produced a first rated agency on debt management in Africa.
Also Mr. Alex Duncan, DFID Consultant, while presenting highlights on the report prepared by himself, Prof. Dora Akunyili and Menachem Katz, said a committed political leadership; support from the international community; domestic pressure for action on the country’s debt; technical professionalism and a committed team; including continuity in the leadership of the DMO appointed based on merit led to the remarkable achievements of the agency.
