The Federal Government through the Debt Management Office, DMO, has released N400 billion to provide liquidity in the system and also to service the nation’s debts.
Ms Oniha said the interventions have yielded the needed results, leaving the economy a bit healthier than in 2016, when the nation fell into recession.
The debt office boss disclosed that the fund released into the economy was government’s strategy to reduce its debt profile and interest rate on its lending from 18 percent to 14 percent.
According to her, this would improve the ability of financial institutions to lend to the real sector.
However, she wondered why the benefits of government’s reduced borrowing through the funds released from December till date were not reflected in increased funding of the real sector.
She said there was an urgent need for reforms on population, infrastructure development, and scaling up actions to meet the expectations of the citizens.
MS Oniha said government will continue to support the economy and give more opportunities to the real sector to enable them grow.
