He added that DMO has over the past two-and half years wanted to have a medium term strategy to build on the other initiatives over the years to ensure that the country's public debt management remains or becomes one of the best in the world.
'You will recall that as far back as 2008, we developed national debt management frame work and associated guidelines.'
Nwankwo said that in the last four years, the DMO, in collaboration with the West African Institute of Financial Management and the World Bank, established a debt sustainability office.
He added that the idea of the MDTS was to enable the country to move to the next level, considering what is being witnessed in global public debt management.
'The need for it has become even more imperative given the development in the global economy and given that in the next two years, the global economy will be dominated by concerns about public debt management and national debt management in general.
'Even if we have not appreciated the need before now to have MTDS, we would have been woken up by now to ensure that we have it now.
'Because even developed countries have started seeing serious public debt crises with some of the problems emanating from the private sector.'
This, he said, had brought to the fore, the position and importance of public management in all economies.
He said the MTDS would cover minimum of three years and would focus on technical decisions and recommendations relating to the mix of external and domestic borrowing, short-term and long-term borrowing and currency mix, when fully developed.
'More importantly, it will deal with issues of risk management that are external and internal to the economy.
'What we are trying to do is to have the highest maturity level of having the technical tool of managing the Nigeria public debt.'
'The medium-term debt strategy is such a tool to ensure and confirm and consolidate effective, efficient, robust public debt management so that we ensure that when our country does borrow, the resources are managed in such a way that they generate maximum growth and development.'
Commenting on the nation's debt profile, he said that the Nigeria's public debt profile for both domestic and external stood at N6.1 trillion about 19.6 per cent of the Gross Domestic Product (GDP).
He said that the debt GDP ratio over the years had remained stable below 20 per cent.
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