The Cross River State Governor, Senator Liyel Imoke has charged Debt managers and top policy makers in the country to come up with sustainable strategies that would enhance debt management and sustainability.
Declaring open a one-day workshop on Effective Sub-National Debt Management for top policy makers in the states of the federation of the South-South, South-West and South-East States in Calabar on Thursday, the Governor called on the stakeholders at the workshop, to fashion out an acceptable approach to the management of public debt, such that would allow for further infrastructural development.
Speaking through the Deputy Governor, Mr. Efiok Cobham, Senator Imoke noted that as decision makers and managers of public finances saddled with the responsibility of sourcing for and managing scarce resources, much WAs expected of them as they needed to make effective use of the workshop to evolve acceptable strategies that would proffer lasting solutions to the teething problems of debt management in the country.
He summed up his charges to participants at the workshop saying, "It is imperative to institute good debt management practices that will make positive impact on economic growth and development through a reduction in the debt stock and cost of public spending".
According to him, his administration had to set up a Department of Debt Management in 2007 among the first states in the federation, to do so, having realized the critical role debt management played in enhancing economic growth and development.
Earlier, the Director-General, Debt Management Office, Dr. Abraham Nwankwo, had expressed the determination of his office to work with all the states of the federation and the Federal Capital Territory (FCT) Abuja, to ensure prudent and effective public debt management at the sub-national levels.
Dr. Nwankwo hoped that the workshop would examine challenges posed by debt management and proffer workable solutions, adding that similar workshops had been slated for states in the North East, North west and North Central Zones billed for Sokoto on the 29th August, 2013.
Highlight of the occasion was a group photograph with the Deputy Governor, State Finance Commissioner, Rev. Costakis Caiafas and participants at the workshop.
Source: Gov. Imoke Harps on Effective Debt Mgt. Strategies for Nigeria (http://www.crossriverstate.gov.ng/index.php?option=com_content&view=article&id=286:gov-imoke-harps-on-effective-debt-mgt-strategies-for-nigeria&catid=132&Itemid=682)