Welcome to
The Gombe State Debt Management Agency
At the Debt Management Agency, our mission is grounded in the principles of prudent financial stewardship, transparency, and fairness. We are dedicated to a citizen-centered approach, ensuring that our debt management strategies are aligned with the needs and aspirations of the people of Gombe State.
Under the leadership of the Director General, the Debt Management Agency is committed to upholding rigorous standards of transparency and accountability in managing the state’s financial obligations. We will provide regular updates and foster open communication to keep you informed about our debt management initiatives and their impact. Understanding the dynamics of our state's economy is crucial, and we remain resolute in our commitment to making decisions that best serve our citizens' interests.
Alhaji Kabiru Tsoho, CNA (Falakin Gombe)
DG Gombe State Debt Management AgencyDMA
The Debt Management Agency
The Gombe state DMO was established to centrally coordinate the management of the state’s debt. The office works closely with the Ministry of Finance and Economic Development and other Offices under the ministry to help ensure a viable and strong economy for the state. Basically, to achieve a level of autonomy and to ensure professionalism in line with international best practice, the Gombe state DMO was established as an Office under the state Ministry of Finance and Economic Development.
It is headed by a Director-General, who is a technocrat and professional in the areas of debt management.
ANNOUNCEMENT: The state Government has Verified that it is owing some of her contractors. Please check your details using the appropriate link below. However, any Contractor whose name does not appear on the list via the link should contact the Debt Management Office, Ministry of finance Gombe via email: dmogombe@mof.gm.gov.ng
Contractors Arrears Link.
https://pneumasofterp.azurewebsites.net/ACF/ACFIndex
Gratuity Arrears Link
https://pneumasofterp.azurewebsites.net/ACF/PensionIndex
FUNCTIONS OF THE DMA
The primary functions of the Gombe state Debt Management Office are:
- Maintain a reliable database of all loans taken or guaranteed by the State Government or any of its agencies
- Prepare and submit to the State Government, a forecast of loans service obligations for each financial year
- Prepare and implement a plan for the efficient management of State’s external and domestic debt obligations at sustainable levels compatible with desired economic activities for growth and development and participate in negotiations aimed at realizing those objectives
- Verify and reconcile external debts service guaranteed or directly taken by the State Government with Federal DMO
- Verify and service domestic debt guaranteed or directly taken by the State Government, with the Accountant General
- On an agency basis, service domestic debt taken by Local Government and any of their agencies, where such debt is guaranteed by the State Government
- Advise the State Government on restructuring and re-financing of all debt obligations
- Advice the DMC on the terms and conditions on which monies are to be borrowed
- Submit to the State Government, for consideration in the annual budget, a forecast of borrowing capacity in local and foreign currencies
- Prepare a schedule of any other State Government obligations such as contingent liability, both explicit and implicit, and provide advice on policies and procedures for their management
- Established and maintain tripartite relationships between the State, International Financial Institutions (IFIs)/Donor Agencies and the Federal DMO
- Collect, Collate, disseminate information, data and forecast on debt management
- Carry out such other function, which may be delegated to it by the Commissioner or by an act of the State Assembly
- Perform such other functions which in the opinion of the Department are required for the effective implementation of its functions.
Office Duties and Schedules
The primary functions of the Gombe state Debt Management Office are:
I) FRONT OFFICE/PORTFOLIO MANAGEMENT UNIT
- Loan Negotiations
- Security Issuance
- Loans and other Financial Product
- Risk and Asset Management
- Government Guarantees
II) MIDDLE OFFICE/POLICY, STRATEGY AND RISK MANAGEMENT UNIT
- Articulate State policy, Strategies and objectives of the public debt base on State Government Development Policy
- Analyze risk and mitigating factors associated with existing and new State debt portfolio
- Undertake research, documents and publish a periodic report on DMO operations
- Monitor compliance with approved work plan and procedures of projects financed by loan proceeds
- Obtain from the back office, disbursement/amortization schedules for all categories of loans and forward copy to appropriate benefitting agency
- Undertake inspection visit on projects funded by loans and prepare a report on compliance on a project by project basis. In addition, a quarterly report detailing the progress of work on each project funded by the loan will be prepared by the middle office
III) BACK OFFICE/DEBT RECORDING AND SETTLEMENT UNIT
- Duly record internal and external debt, debt resulting from on-lent loans, grants and counterpart fund, contractors’ debt, and contingent liabilities of the State
- On a quarterly basis, undertake debt data validations and reconciliation with Federal DMO
- Promptly record new disbursements
- Record and update service payments
- Prepare on an annual basis, budget for debt service payments and their due dates for the approval of the Commissioner
- At the beginning of each year send a copy of the projected debt service payment schedules to the Accountant General of the State
- At least one month prior, advise the Accountant General on the due dates for the debt service payment
- Obtain demand notes/bills from creditors
- Process and pass the Demand Notes to the AG to issue payment mandate to effect payment
- Receive Payment Advice from the AG, reconcile actual and projected dates and amounts paid, and update the records accordingly
- On a regular basis, undertake debt service data reconciliation with the AG
- On a regular basis, track and monitor the service of the counterpart funds
Our Projects
Highlighted Projects and Future Directions.
Our projects are designed to enhance financial stability and drive economic growth. Discover our current initiatives and strategic plans aimed at achieving sustainable progress and fiscal efficiency.
Muhammad Buhari Industrial Park
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Gombe State University of Science & TEchnology (KUMO)
“This summit represents a crucial step in our ongoing efforts to build peace in Northwest Nigeria. UND...
Read MoreSTATISTICS
SOME IMPORTANT METRICS
The Gombe state Debt management office closely monitors a number of important metrics to help keep the economy as strong as possible.
States
LGA
Communitles
Beneficiaries
Projects
