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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
Suspected cultists kill 12 in attack on Jos community, Plateau govt imposes curfew
By: Zagazola Makama
Suspected cultists on Sunday night attacked Angwan Rukuba community in Jos North Local Government Area of Plateau State, leaving 12 persons dead, in a fresh outbreak of violence that has prompted authorities to impose a 48-hour curfew in the area.
Security sources said the incident occurred at about 8:00 p.m. when residents of the community came under sporadic gunfire from unidentified armed men, suspected to be cultists, who stormed the area and shot indiscriminately.
Troops of Sector 1, Operation Enduring Peace (OPEP), were immediately mobilised to the scene following a distress call and moved to restore order and prevent further escalation.
A security report indicated that 12 persons were confirmed dead, while several others sustained varying degrees of injuries. The injured victims were said to have been evacuated to nearby medical facilities for treatment.
The troops subsequently cordoned off major access routes to the community and ordered residents to remain indoors while a coordinated search operation was launched to track down the attackers.
Military sources added that clearance operations were ongoing to apprehend the perpetrators and prevent further breakdown of law and order in the area.
In response to the attack, the Plateau State Government, in collaboration with security agencies, announced the imposition of a 48-hour curfew on Jos North Local Government Area with immediate effect.
The curfew, which took effect from midnight of March 29 to April 1, 2026, was aimed at restoring calm and enabling security agencies to carry out intensified operations.
In a statement issued by the Commissioner for Information and Communication, Rt. Hon. Joyce Lohya Ramnap, the government condemned the attack, describing it as “barbaric and unprovoked.”
The statement assured residents that security agencies had been directed to ensure the arrest and prosecution of those responsible, while urging the public to remain calm and cooperate with ongoing investigations.
Security patrols were still ongoing across affected communities as authorities moved to forestall possible reprisal attacks and restore normalcy.
Suspected cultists kill 12 in attack on Jos community, Plateau govt imposes curfew
Troops arrest suspected kidnapper in Damboa LGA of Borno
By: Zagazola Makama
Troops of Operation Hadin Kai have arrested a suspected kidnapper in Azir community, Damboa Local Government Area of Borno State.
Sources told Zagazola Malama that the suspect was apprehended at about 5:00 p.m. on March 28 by troops of 25 Brigade and 19 Battalion (Mechanised) deployed at a Forward Operating Base in Azir.
The source disclosed that the suspect was alleged to have been involved in kidnapping activities within the Damboa and Azir general areas.
“During preliminary investigation, the suspect claimed to be a cattle courier operating within Damboa and its environs,” the source said.
He added that one bicycle was recovered from the suspect at the point of arrest.
The suspect and the recovered item are currently in troops’ custody for further investigation and necessary action.
Troops arrest suspected kidnapper in Damboa LGA of Borno
Troops arrest 58 illegal miners in Edo state
By: Zagazola Makama
Troops of Operation MESA have arrested 58 suspected illegal miners at an illegal gold mining site in Ososo general area, Akoko-Edo Local Government Area of Edo State.
A security source disclosed that the suspects were apprehended at about 1:00 p.m. on March 28 during a fighting patrol conducted by troops of 195 Battalion (Rear).
According to the source, the troops stormed the mining site and arrested the suspects without resistance.
“The suspects are currently in troops’ custody for further action,” the source said.
He noted that the operation forms part of ongoing efforts to curb illegal mining activities and other criminal enterprises within Edo State and its environs.
Troops arrest 58 illegal miners in Edo state
Suspected cultists kill 12 in attack on Jos community, Plateau govt imposes curfew
Troops arrest suspected kidnapper in Damboa LGA of Borno
Troops arrest 58 illegal miners in Edo state
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