By Bashir Hassan Abubakar
Top management staff in public financial management services in the Bauchi State civil service have been trained on public debt negotiation skills.
The training, held between 12th – 13th April, 2023 at Hazibal Hotel Conference Hall Bauchi, was put together by USAID funded State Accountability, Transparency and Effectiveness (State2State) Intervention.
The objective of the training, according to Isaac Otabor, Public Financial Management Specialist of USAID State2State Bauchi field office, was to build the capacity of participants in debt negotiation skills, procedure, and inclusive approach to debt negotiation.
Specifically, the workshop was aimed to equip participants with skills to select and negotiate the most favorable terms for the public loan while aligning with the required debt threshold.
Mr. Otabor further explained that the training will impact knowledge of the principles and processes of loan/debt negotiation; and also enhance the negotiation skills, techniques, and analytical skills of participants.
While answering a question from our correspondent on the rationale behind the training, the lead facilitator, Dr. Gbenga Oyewole said that it is imperative for State Government financial officials to hone their skills in getting the best bargains during loan negotiations.
Dr. Oyewole, who is also the Technical Director of the Public Finance Management component of the State2State Intervention, said that because Government always borrows to cover for shortfalls in the execution of capital projects, State Governments needs to have knowledge of emerging issues associated with loans and hence the need to build capacity in that direction.
The financial expert also explained that the skills and knowledge acquired will sharpen the debt negotiation skills of the participants to attract favorable terms while sourcing for loans for the State.
While expressing appreciation on behalf of the participants after training, the State Director General of the Bauchi State Debt Management Agency, Abdullahi Jibrin thanked USAID Nigeria and particularly State2State intervention for building the capacity of the State financial officers which he described as ‘enriching’.
Our correspondent reports that topics presented during the training were focused on rules and process of negotiation, the need to borrow and preparation for loan negotiation.The training also touched on guidelines for government loan negotiation and international loan terms and conditions.