The Debt Management Office (DMO) has dismissed media reports claiming that Nigeria has defaulted on loan repayments to China.
The DMO, in a statement released in Abuja on Wednesday, urged the public to disregard the report as it is false.
According to the statement, the DMO had been misquoted in the news report, which stated that Nigeria had failed to fully service its debt to China, amounting to N110.31 billion over the past two years. The DMO clarified that it never made such a statement and that the report was misleading.
The statement reassured the public that Nigeria is committed to honouring all its debt obligations and has not defaulted on any of its debt service payments. The DMO urged the public to ignore the media report and affirmed that the Nigerian government remains focused on maintaining its strong financial credibility.
