Centre Lauds PMB Borrowing for Infrastructure Policy

President Muhammadu Buhari administration’s borrowing to fund infrastructure has been justified by the Centre for Audit Systems, Due process and Media Law ECOSTES University, Benin Republic.

To this end, the Debt Management Office has been nominated for award of excellence in due process and accountability by the organisation.

In a letter of nomination signed by the Executive Director of the Centre, Dr. Austin Akogwu, the Centre explained that the nomination followed recommendation of Civil Society Organisations in Nigeria for the professional administration of internal and external debt negotiations as well as other advisory roles played by the DMO in the country debt portfolio.

“Following the recommendation by the recommendation by Civil Society Organisations in Nigeria, your agency, the DMO has been nominated for recongnition for having regard to the transparent, accountable audit and compliance process employed to achieve the set objectives”, the letter read in part.

It further explained that the decision of president Buhari administration to borrow to fund expansion of infrastructure was a global practice and urged the DMO not to relent in its guiding role saying their professionalism would boost economic activities in the country and ultimately create wealth and employment.

The Centre for Audit Systems, Due Process and Media Law was founded by a group of PAN African researchers in affiliation with the ESCOSTE University, Republic of Benin. The main objective of the group is to promote, enhance and institutionalise transparency and accountability as well as due process in both public and private institutions in Africa.