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VP Shettima Says Nigeria Must Transform Debt Into Economic Asset
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
Security forces neutralise two notorious bandits in Benue clearance operation
By: Zagazola Makama
Security forced have neutralised two suspected notorious bandits during a clearance operation in Ukum Local Government Area of the state.
Sources told Zagazola that the operation followed credible intelligence received on Tuesday at about 1:00 p.m.
The report indicated that a criminal gang led by one Senen Hemen, also known as Orpa, was sighted along the pipeline axis between Gbeji and Igbongom communities in Ukum.
According to the sources, security forces were promptly mobilised to the location, where the gang engaged the operatives in a gun duel.
During the exchange, Hemen and another gang member identified as Mzungweve Ichur, both from Igbongom, were shot dead, while others fled the scene with gunshot injuries.
The sources confirmed that the corpses of the two suspects had been recovered and deposited at a private mortuary in Gbeji, while a manhunt had been launched in the surrounding bushes to track the fleeing accomplices.
The sources assured residents that the operation was part of ongoing efforts to rid Ukum and adjoining areas of violent criminal gangs.
Security forces neutralise two notorious bandits in Benue clearance operation
Gunmen abduct worshipper in Oyo community
By: Zagazola Makama
Gunmen have abducted a worshipper from a mosque in Gbonkan Village, Ipapo, Itesiwaju Local Government Area.
Sources said that the victim, identified as Amadu Usman, was kidnapped on Monday night while praying at the mosque alongside his elder brother, Adamu Usman.
The sources said seven armed men invaded the mosque at about 9 p.m. and whisked the victim away to an unknown destination.
The sources said that a joint team of security forces, Amotekun Corps, vigilantes and local hunters had since launched a search-and-rescue operation, combing surrounding bushes to track down the suspects and rescue the victim.
Gunmen abduct worshipper in Oyo community
Troops of Operation FANSAN YANMA repel bandit attack in Malumfashi, Katsina
By: Zagazola Makama
Troops of Operation FANSAN YANMA, in collaboration with the Police, Community Watch Corps and local vigilantes, have repelled a bandit attack in Malumfashi Local Government Area of Katsina State.
Sources said that the incident happened on Tuesday evening when armed bandits launched an attack on a hunters’ camp in Naalma village.
According to the sources, the troops and other security operatives responded swiftly to a distress call and engaged the bandits in a fierce gun battle, forcing them to withdraw.
“During the operation, Usman Lawal, 35, the Commander of the Hunters’ group, sustained fatal injuries. One of the bandits was neutralised while the rifle earlier seized from the hunters’ commander was recovered.
“Other fleeing bandits are suspected to have escaped with gunshot wounds. Troops are currently conducting cordon-and-search operations within the area,”said the sources.
Troops of Operation FANSAN YANMA repel bandit attack in Malumfashi, Katsina
Security forces neutralise two notorious bandits in Benue clearance operation
Gunmen abduct worshipper in Oyo community
Troops of Operation FANSAN YANMA repel bandit attack in Malumfashi, Katsina
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