Enugu moves to establish debt management office

To manage her internal and external debts effectively and move the state forward economically, Enugu State government will soon establish a Debt management office (DMO) in the state.

This follows the submission of report on the bill that would allow for the provision of law for the establishment of the office by a joint committee on Finance and Appropriation, Public Accounts, Anti-Corruption, Judiciary, Public Petitions, Ethics and Privileges of the Enugu State House of Assembly on Tuesday.

The bill, which is an executive bill was presented by the leader of the House, Okechukwu Ezeugwu and has been pending since September last year.

Presenting the report on behalf of the Joint Committee, its Chairman, Chuks Eneh representing Udi South, said they conducted a public hearing on the bill before arriving at the report on the floor of the House.

Eneh stressed on the importance of the bill as, “when passed into law will help the state to monitor its debts portfolio and determine when and how to pay back its debts.

“It will also helop the state to manage its assets and liabilities, as well as, its stocks and securities effectively,” he said.

To lend credence to the committee’s report, Eneh added that important personalities and influential stakeholders attended the public hearing and made inputs that would help in the passage of the bill into law.

Meanwhile, the bill has passed first and second readings and was now waiting its third reading and the passage into law.

In a related development, the House of Assembly received two other reports which included a bill for a law to provide for the establishment of the Enugu State House of Assembly Service Commission, functions of the Commission and other related matters connected therewith, and a petition of disobedience to committee’s recommendation on boundary by Akwuke and Attakwu communities of Enugu State.

The reports were presented respectively by the House leader, Ikechukwu Ezeugwu and Chima Obieze, Committee Chairman on Works, Lands, Housing and Urban Development.