In line with the global recognition of the effectiveness of Nigeria’s Debt Management Office (DMO), the World Bank (WB) has requested the DMO to host a delegation of KenyanOfficials from that country’s Central Bank, Capital MarketAuthority, and National Treasury & Debt Management Office on a Study Tour of the Nigerian Domestic Bond Market from August 24 -27, 2015.
According TheCitizen findings, the main purpose of the Study Tour is for the delegation to gain insight into thedevelo
It was gathered that other major areas of interest to the visiting delegationare as
Formulation of Issuance Strategies for Securities.
Policies for Benchmark Building.
Primary Dealer Market Maker Programme.
Communication Strategies with market stakeholders.
Price formation and dissemination in the Primary and Secondary markets.
Types of secondary market architecture, price discovery and transparency.
It could be recalled that DMO has in the past hosted officials of various African countries on similar study tours and indeed provided attachments for some of the countries. The countries includeUganda, Sudan, Zambia and Zimbabwe. It is pertinent to emphasise that the hosting of officials of different countries on such study tours and provision of attachment programmes are an integral part of the DMO’s strategic objective ofmaking Nigeria a major destination for out-sourced debt management skills and services. In order for the visiting officials to achieve maximum benefit from the study Tour, the DMO has packaged series of presentations on different areas of public debt management including the following:
Building blocks for effective debt management – stakeholder relationship management, development of legislations, institutional arrangements/internal organisation.
Development of strategies for optimally meeting Government financing needs.
Auction methods of Government debt securities.
The Primary Dealer Market Maker (PDMM) System which is the major plank for the vibrant Secondary FGN Bond Market.
Portfolio management strategies including the annual Debt Sustainability Analysis (DSA) which forms an integral part of the country’s annual budgeting process, the Medium Term Debt Strategy (MTDS) which serves as a compass for public debt management. It is imperative to note that the DSA for the year 2015 has just been concluded and the report is expected to be ready soon.