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VP Shettima Says Nigeria Must Transform Debt Into Economic Asset

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VP Shettima Says Nigeria Must Transform Debt Into Economic Asset

By: Our Reporter

Vice President Kashim Shettima has inaugurated the Supervisory Board of the Debt Management Office (DMO) as part of efforts by the Federal Government to strengthen fiscal and monetary policy coordination and ensure long-term debt sustainability in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda.

Speaking during the Meeting of the Board on Wednesday at the Presidential Villa, the Vice President who is also Chairman of the Board charged the members to come up with a more strategic approach to public debt management.

He noted that Nigeria must continue to use public debt as a vehicle for the development of critical infrastructure and tool for economic growth and poverty reduction.

“With prudent management, debt can be transformed into an asset for economic growth and poverty reduction. Our goal must be to formulate policies, regulations, and guidelines for the DMO, with a view to achieving long-term debt sustainability for our country,” the VP stated.

VP Shettima explained that this approach aligns with the Renewed Hope Agenda of President Bola Ahmed Tinubu’s administration, which prioritizes fiscal discipline, economic stability, and sustainable development.

He stressed that borrowing, when applied prudently, could serve as a catalyst for economic growth rather than a financial liability.

“As you all know, public debt, if prudently applied, becomes an asset for economic growth and poverty reduction. However, recent realities in our economy call for stronger coordination between our fiscal and monetary policies,” he said.

The Vice President commended President Bola Ahmed Tinubu for his economic reforms, acknowledging the President’s dogged efforts towards reforming the Nigerian economy.

He also praised the Minister of Finance and Coordinating Minister of the Economy and the DMO leadership for their untiring efforts in the day-to-day management of the nation’s sovereign debt portfolio.

“I want to commend the dedication of our leader, President Bola Ahmed Tinubu, GCFR, in his dogged efforts towards reforming our economy. I applaud the Honourable Minister of Finance and the Coordinating Minister of the Economy, and the DMO Management, for their untiring efforts in the day-to-day management of our sovereign debt portfolio,” he said.

The Vice President also noted Nigeria’s recent success in the global financial market on the issuance of a $2.2 billion double-tranche Eurobond, which he described as a testament to investor confidence in the country.

“I also use this opportunity to congratulate them and other members of the Nigerian delegation for a successful outing in the recent $2.2 billion double-tranche Eurobond issuance. The over-subscription rate of the bonds showed an impressive appetite for our country’s sovereign instruments in the global capital market.

Other members of the Board are Minister of Finance and Coordinating Minister for the Economy, Wale Edun (Vice Chairman); Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (member); Special Adviser to the President on Economic Matters, Dr. Tope Fasua (member); Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso (member); Accountant-General of the Federation (OAGF), Dr. Oluwatoyin Sakirat Madein (member), and Director-General of the Debt Management Office, Patience Oniha (Secretary).

VP Shettima Says Nigeria Must Transform Debt Into Economic Asset

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Karai-Karai retirees commend Governor Buni on pension increment

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Karai-Karai retirees commend Governor Buni on pension increment

By: Yahaya Wakili

Members of Karai-Karai Retirees Association Gamana Ma Isheni (G M I) Yobe state has commended His Excellency, the Executive Governor of Yobe state, Hon. Mai Mala Buni CON COMN, Chiroman Gujba for marvelously increasing the pension of the entire retirees in Yobe state.

The commendation was contained in a statement issue and signed by the  Chairman, Mallam Abubakar Usman Tikau, and Secretary, Malam Mu’azu Haruna Maje respectively.

The association wishes to extend its heartfelt thanks and appreciation to the Executive Governor for providing the good leadership and facilitated numerous developmental projects since the restoration of the democracy in the state.

“You are first in the history of Yobe state to do such as a magnanimous, chivalrous and sympathetic act. It has also affirmed the commitment of your administration to the welfare of all citizens of the state.” they added.

“We heartly congratulate His Excellency, Hon. Mai Mala Buni CON, COMN, the Executive Governor of Yobe state on your election as the new chairman of the Lake Chad Basin Governor’s Forum after the successful hosting the meeting. May Allah (SWT) guide you to succeed and continue to make Yobe state proud.

They maintained that, “We are optimistic you would deploy your wealth of experience and unequal humility to rejuvenate the trust, hope, and cooperation among the people of the region. May Almighty Allah guide you as you embark on the very important task of providing leadership of the forum.

Karai-Karai retirees commend Governor Buni on pension increment

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CIC ASSURES DEPOT NIGERIAN ARMY OF INFANTRY CORPS SUPPORT

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CIC ASSURES DEPOT NIGERIAN ARMY OF INFANTRY CORPS SUPPORT

By: Abidoye Olusegun

The Commander Infantry Corps (CIC) Major General Abdul Khalifah Ibrahim OFR has assured the Commandant DEPOT Nigerian Army ( NA) of the Infantry Corps’ continued support to the DEPOT NA. The CIC gave the assurance today Wednesday 5 February 2025 during the courtesy visit of the Commandant DEPOT NA, Major General Ahmadu Mohammed to the Headquarters Infantry Corps Centre (HQ ICC).

In his remarks, the CIC congratulated the Commandant on his appointment as the Commandant DEPOT NA, describing the appointment as a well deserved product of hard work and merit given the Commandant’s antecedents in staff, command and instructional capacities, adding that that he was very optimistic that the Commandant would make the NA proud.

Major General Ibrahim said the training collaboration request made by the Commandant was a welcome development on the part of the Infantry, saying the Corps would liase with the Army Headquarters for the formalization of the approval. He added that more Infantry instructors would be identified and posted into the institution as requested by the Commandant.

The CIC further stated that efforts are ongoing to reposition the Infantry Corps. He lauded the achievements of the immediate past CIC, who is the current Chief of Army Staff, promising to build on the achievements.

Major General Ibrahim noted a gradual improvement in the nation’s security, charging all officers and infantry units to work harder to sustain and improve on this. He however encouraged all infantry officers to look inward to Jaji emphasizing that Jaji is the home of the Infantry.

Speaking earlier in his remarks, the Commandant DEPOT NA, Major General Ahmadu Mohammed congratulated the CIC on his appointment as the Commander of the Infantry Corps and thanked the CIC for the warm reception given to him and his entourage.

The Chief Buffalo stated that he came to HQ ICC to request the CIC inputs where the CIC deems it necessary on the training programme to enhance training of recruits in the DEPOT NA.

He said he looked up to the CIC’s advice as a mentor and senior colleague who would want him to succeed.

The Commandant requested for a combined training exercise between the DEPOT NA and the Nigerian Army School of Infantry, saying the combined training exercise would expose the recruits to what operations is all about at the section,platoon, battalion and brigade level with their future officers playing their roles. He also requested posting of instructors from the Corps to the DEPOT NA to ameliorating challenges facing the institution.

The courtesy visit was graced by the Chief of Staff HQ ICC, Brigadier General Kasim Sidi , Acting Director Research and Development, Col Sani Mohammed as well as other Staff Officers of the HQ ICC and DEPOT NA.

Highlights of the visit were exchange of souvenirs between the CIC and the Commandant , signing of the visitors book and group photographs to conclude the visit.

CIC ASSURES DEPOT NIGERIAN ARMY OF INFANTRY CORPS SUPPORT

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Tchad: Zulum leads delegation to repatriate 7,790 refugees

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Tchad: Zulum leads delegation to repatriate 7,790 refugees

… Humanitarian Minister says Zulum is a good example of FG/State collaboration

By: Our Reporter

Borno State Governor, Babagana Umara Zulum, has led a delegation of government officials from Nigeria to kick start the repatriation of refugees that fled the Boko Haram crises to Baga Sola in Tchad Republic.

The refugees, most of them indigenes of Borno, were displaced for nearly ten years by the insurgency which affected communities around Lake Chad Basin.

The delegation which includes the State Minister of Humanitarian Affairs and Poverty Reduction, Dr Yusuf Tanko Sununu, and the Federal Commissioner/Chief Executive Officer of the National Commission for Refugees, Migrants and Internally Displaced Persons (NCFRMI) was received on Wednesday in Baga Sola by the Governor of Lac Province, Saleh Haggar Tidjani.

In the first batch of the repatriation exercise, about 1,768 families comprising 7,790 people will return to Nigeria.

Before launching the first batch of the repatriation, Zulum attended the signing of a tripartite agreement in Baga Sola between the governments of Nigeria, Tchad and the United Nations High Commission for Refugees (UNHCR).

The Minister of Humanitarian Affairs, Dr Yusuf Tanko Sununu, signed on behalf of Nigeria, the Governor of Lac Province for the Republic of Tchad and Jerome Merlin, Second Rep UNHCR in Baga Sola, signed for the UN refugee agency.

Delivering his address at the signing-in ceremony, Zulum emphasised that only those that have voluntarily indicated interest in returning will be repatriated. The governor expressed gratitude to the government of Tchad for hosting thousands of Nigerians displaced by the crises in Borno.

Zulum’s delegation also comprises the Head of Chancery, Nigerian Embassy in N’Djamena, Abdulkadir Ibrahim Ghani, Member of Borno State House of Assembly representing Kukawa, Hon Karta Maina Ma’aji, Commissioners of Information and Local Government Affairs, Prof. Usman Tar, and Sugun Mai Mele and the Permanent Secretary Government House, Mustapha Ali Busuguma.

… Humanitarian Minister says Zulum is a good example of FG/State collaboration

Meanwhile, the State Minister of Humanitarian and Disaster Management has commended Borno State Governor, Babagana Umara Zulum, for the leadership he has been providing in the service of the people of Borno State.

He said, “I want to thank the Executive Governor of Borno State for showing leadership during crises and serving as a role model in terms of complete collaboration with the federal government and for providing all the necessary support.”

Tchad: Zulum leads delegation to repatriate 7,790 refugees

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