Debt Management Office is a specialised office established in 2008, in Ministry of Finance charged with general administration of debt related matters and recording of all liabilities of Zamfara State Government and its MDAs. The office has the State Executive, Legislative approval and His Excellency`s the State Governor endorsement of its OFFICE LAW, that gives the legal background for the establishment of the office on June 13, 2012.
FUNCTIONS AND ACTIVITIES OF DEBT MANEGEMENT OFFICE
1. Maintain a reliable database of all loans taken or guaranteed by the
State or any of its Agencies.
2. Prepare and submit to the State, a forecast of loan service obligations
For each financial year.
3. Prepare and implement a plan for the efficient management of the
State’s external and domestic debt obligation at sustainable levels
Compatible with desired economic activities for growth and
development and participate in negotiations aimed at realizing those
4. Verify and reconcile External debts services guaranteed or directly
taken by the State with the Federal DMO.
5. Verify and service domestic debt, guaranteed or directly taken by the
6. On an agency basis, service domestic debt taken by Local Government
Council or any of their agencies/organization, where such debts
guaranteed by the State Government.
7. Advice the State on the re – structuring and re – financing of all debt
8. Advice the State on the terms and conditions on which Monies are to
9. Submit to the State for consideration in the annual budget, a forecast
of borrowing capacity Local and foreign currencies.
10. Prepare a schedule of State obligations such as contingent liabilities,
both explicit and implicit and provide advice on policies and
Procedures for their Management.
11. Establish and maintain tripartite relationship between the States.
12. International Financial Institution/Donor Agencies and Debt
13. Collect, collate, disseminate information, data and forecast on Debt
14. Perform any other function that may be assigned to it or which in the
Opinion of the Office are required for the effective implementation of
15. The Office shall administer the debt conversation programme of the
State and perform its functions with regard to the development fund