Buhari reappoints Patience Oniha as Debt Management Office DG

Buhari reappoints Patience Oniha as Debt Management Office DG

President Muhammadu Buhari has renewed the appointment of Patience Oniha as the Director-General of the Debt Management Office (DMO).

Oniha’s second term of 5 years takes effect from July 1, 2022, presidential spokesman Garba Shehu announced in a statement on Thursday

The President’s approval is in accordance with Section IV (9-i) of the Debt Management Office (Establishment ETC) Act, 2003.

Buhari retained Oniha based on the significant achievements recorded by the DMO in the last 5 years.

The DG was commended for the introduction of Sukuk and Green Bonds to finance the development of infrastructure where there is a huge gap.

As part of the initiatives to improve the sustainability of the public debt and opening up avenues for raising funds, Oniha introduced long term Bonds with tenors of 30 years in the domestic and international markets.

The presidency also hailed the DG for attracting “diverse investors including retail investors to the FGN Bond Market.”

Oniha was further praised for introducing reforms to strengthen the DMO, as a critical agency in Nigeria’s public finance ecosystem.