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Commonwealth Meridian Deployed to Manage Public Debt Portfolio

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Commonwealth Meridian Deployed to Manage Public Debt Portfolio

By: Michael Mike

A powerful software developed by the Commonwealth Secretariat is being deployed in Nigeria to transform how the country manages its public debt portfolio of US $114.35 billion while enhancing transparency.

A statement on Monday by the Commonwealth Secretariat, said at the request of the Government of Nigeria, the Commonwealth Secretariat hosted a two-week training workshop for 15 Nigerian debt managers at its headquarters in London this month.

The statement added that during the workshop, participants received hands-on training on getting their debt databases ready for seamless migration to the new software, known as Commonwealth Meridian, and learned essential skills for recording, analysing, and managing various types of debt using the advanced tool.

The Acting High Commissioner of Nigeria to the United Kingdom, Dr Cyprian Heen, according to the statement, opened the workshop on 5 February 2024 and described the software as a crucial tool for sound debt management practices in developing countries.

He highlighted the importance of monitoring debt liabilities to prevent escalating debt costs and risks, which hinder governments from spending on projects essential for sustainable development.

Heen said: “Meridian allows borrowers to record their debt accurately and comprehensively across the full range of debt management transactions and operations.

“In turn, this facilitates accurate and timely debt service payment to creditors while allowing governments to monitor their liabilities.”

Launched in 2019, Meridian replaces its predecessor, the Commonwealth Secretariat: Debt Recording and Management System (CS-DRMS), which has helped Nigeria manage its public debt since the 1990s.

The upgraded software gives managers access to real-time debt data to monitor liabilities and make informed decisions, while ensuring national financing needs are met in time and at an acceptable level of risk.

Speaking at the workshop, Senior Director of the Commonwealth Secretariat’s Economic, Youth and Sustainable Development Directorate, Dr Ruth Kattumuri, said Nigeria is the Commonwealth’s key partner in supporting Africa’s development.

She emphasised Nigeria’s catalytic role in driving growth and sustainable development across the continent, leveraging its abundant natural resources and human capital.

Kattumuri reiterated the Commonwealth’s full support for Nigeria’s development efforts, including through the deployment of essential tools, such as Meridian.

One of the training participants, Director of the Debt Recording and Settlement Department of Nigeria’s Debt Management Office, Maraizu Nwankwo,, welcomed the training initiative.

He said: “Meridian would help to address the challenges encountered by our debt officials in the use of CS-DRMS and support the Debt Management Office in meeting the increasing demand for public debt data in various forms by the stakeholders and users.”

The upgraded software is offered to Commonwealth countries as part of the Commonwealth’s debt management programme, which includes advocacy and policy advice on formulating debt management strategies.

Currently, the software is in use in 39 Commonwealth countries

Commonwealth Meridian Deployed to Manage Public Debt Portfolio

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Nigeria Sympathizes with Cuba, Jamaica, Haiti on Devastation of Hurricane Melissa

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Nigeria Sympathizes with Cuba, Jamaica, Haiti on Devastation of Hurricane Melissa

By: Michael Olugbode

Nigeria has sympathized with the governments of Cuba, Haiti and Jamaica over the catastrophic impact of Hurricane Melissa that ravaged the countries.

A statement on Sunday by the spokesperson of the Ministry of Foreign Affairs, Kimiebi Ebienfa read: “The Government and people of the Federal Republic of Nigeria have received with profound sorrow and deep sympathy the news of the catastrophic impact of Hurricane Melissa on our sister nations, the Republic of Cuba, Haiti and Jamaica.

“The images and reports emerging from the countries, detailing widespread destruction, severe flooding, and the tragic loss of lives and livelihoods, are truly heart-wrenching. Nigeria stands in solidarity with the governments and the resilient peoples of Cuba, Haiti and Jamaica during this period of immense adversity and destruction.

“We commend the swift and courageous efforts of the national emergency response teams in both countries, who are working tirelessly under extremely challenging conditions to provide relief and save lives.

“In the spirit of South-South cooperation and the enduring bonds of friendship and solidarity that Nigeria shares with the nations of the Caribbean, the Federal Government of Nigeria extends its heartfelt condolences to the families of the victims and wishes a full and speedy recovery to the injured.

“The Government of the Federal Republic of Nigeria calls upon the international community and our partner organisations to rally in support of Cuba, Haiti and Jamaica, and to provide all necessary assistance to help these nations in their urgent recovery and rebuilding efforts.

“Our thoughts and prayers are with the Government and people of the Republic of Cuba, Haiti and Jamaica.”

Nigeria Sympathizes with Cuba, Jamaica, Haiti on Devastation of Hurricane Melissa

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NCYP Urges Tinubu, Northern Governors to Safeguard Inter-Religious Peace After U.S. CPC Designation

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NCYP Urges Tinubu, Northern Governors to Safeguard Inter-Religious Peace After U.S. CPC Designation

By: Michael Mike

The Northern Christian Youth Professionals (NCYP) has urged President Bola Tinubu to ensure that Nigeria’s recent designation by the United States as a Country of Particular Concern (CPC) does not degenerate into religious tension or undermine peaceful coexistence between Christians and Muslims, especially in the northern region.

Reacting to the public response that followed the announcement by U.S. President Donald Trump, NCYP called for calm and constructive dialogue, warning that while international engagement is important, neglecting domestic dialogue would be a costly mistake.

The group noted that public reactions on social media already underscore the urgent need for local engagement in order to prevent the situation from escalating into inter-religious misunderstanding or violence.

The group, in a statement signed by its Chairman, Isaac Abrak, said: “We recalled that Bishop Matthew Hassan Kukah and NCYP had earlier appealed to the U.S. Government not to list Nigeria as a CPC, warning that such a move could “undermine the delicate interfaith dialogue and reconciliation efforts built over the years.” Unfortunately President Trump has still gone ahead and listed Nigeria, as such we must not allow this fear to turn into reality.

“While we commend President Tinubu for his inclusive approach to governance and his ongoing efforts to address insecurity, the NCYP stresses that more must be done to protect innocent lives—Christian, Muslim, or otherwise—and to strengthen national unity.

“NCYP must also express our concern that many northern governors have remained silent on this matter, as this is ia clarion call to the Northern Governors Forum, led by Governor Inuwa Yahaya of Gombe State, to work closely with the President and stakeholders in preserving the budding peace between the two faiths, particularly in flashpoint areas.

“Finally, NCYP reaffirmed its commitment to promoting unity, tolerance, and peace across Nigeria.”

NCYP Urges Tinubu, Northern Governors to Safeguard Inter-Religious Peace After U.S. CPC Designation

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Buni appoints Dr. Bulama as the new program manager for livestock in Yobe

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Buni appoints Dr. Bulama as the new program manager for livestock in Yobe

By: Yahaya Wakili

Governor Mai Mala Buni CON, COMN, of Yobe State, has appointed Dr. Bulama Maina Yaro as the new program manager of the Yobe State pilot livestock development program.

The appointment letter was signed by the Acting Head of Service, Alhaji Abdullahi Shehu, who revealed that the appointment takes immediate effect.

Governor Buni urged the new program manager to bring his wealth of experience, dedication, and professionalism to bear in advancing the objectives of the livestock development program in Yobe State.

According to Governor Buni, the Yobe state government remains committed to the sustainable transformation of the livestock.

He revealed that, in line with its broader agenda for agricultural development and economic diversification.

Buni appoints Dr. Bulama as the new program manager for livestock in Yobe

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