Against the background of the present dwindling revenue profile of the country due to the fall in oil revenue culminating in most states seeking for loans, the nation's Debt Management Office (DMO), said Friday in Enugu that the efficient and effective utilization of available revenues by governments at all levels would reduce borrowing and empower them to stay afloat Thisday report.

The Director General of DMO, Dr Abraham Nwankwo who stated this at a one-day enlightenment workshop for civil society organizations (CSOs) in Enugu said that when revenue is well managed and the amount borrowed covers only things government's revenue cannot sufficiently cover, all levels of government would have the capacity to withstand financial crisis.

Nwankwo also used the forum to dispel insinuations in some quarters that the recent decision of the JPMorgan Chase & Co. to phase out Federal Government of Nigeria (FGN) Bonds from its Government Bond Index-Emerging Markets (GBI-EM) was an indication that the economy was at the brink of possible collapse, noting that the domestic bonds market is still strong and attractive.