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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
NA CAT Week: Army Flags Off Free Medical Outreach in Kaduna Community
By Zagazola Makama
The Nigerian Army has commenced pre-event activities for its Combat Arms Training (CAT) Week 2026 with a free medical outreach for residents of Birnin Yaro community in Kaduna State.
Security sources said the outreach, which held on May 2, was flagged off by the Chief of Integrated Combat Arms, Maj.-Gen. G.M. Mutkut, as part of preparations for the CAT Week scheduled to take place at Jaji Military Cantonment from May 4 to May 8, 2026.
The sources disclosed that the programme provided free medical consultations and treatment for members of the host community, as well as personnel and their family members.
According to the sources, the initiative was designed to strengthen civil-military relations while improving access to basic healthcare services for underserved communities.
They added that senior officers, including the Principal Staff Officer from Headquarters Infantry Corps Centre and members of the Central Organising Committee for the CAT Week, were in attendance.
The sources noted that the event was conducted peacefully and without any incident.
NA CAT Week: Army Flags Off Free Medical Outreach in Kaduna Community
Troops Arrest Two Suspected Terrorists in Borno, Recover Phones and Charms
By Zagazola Makama
Troops of the Nigerian Army have arrested two suspected terrorists during a patrol operation in Ngamdu town, Kaga Local Government Area of Borno State.
Security sources said the operation was conducted at about 5:35 p.m. on May 2 by troops of 154 Battalion while on routine patrol within the area.
The sources disclosed that the suspects were intercepted and arrested during the patrol.
According to the sources, items recovered from them include one mobile phone, one keypad phone, a power bank, charms and other sundry items.
They added that the suspects are currently in military custody for further interrogation and investigation.
The sources noted that further action will be taken after profiling, while patrols in the area have been intensified to maintain security dominance.
Troops Arrest Two Suspected Terrorists in Borno, Recover Phones and Charms
Four Killed, Three Injured in Attack on Illegal Mining Site in Plateau
By Zagazola Makama
Four persons have been killed and three others injured following an attack by unknown gunmen at an illegal mining site in Barkin-Ladi Local Government Area of Plateau State.
Security sources said the incident occurred at about 1:30 p.m. on May 2 at Mazat mining site, where the victims were reportedly engaged in unauthorised mining activities.
The sources disclosed that the assailants opened fire on the victims, killing four on the spot while three others sustained varying degrees of gunshot injuries.
According to the sources, the injured victims—two females and one male—were rushed to a nearby hospital for medical attention and are currently receiving treatment.
They added that the corpses of the deceased have been deposited at the hospital morgue for autopsy.
The sources further noted that security operatives were mobilised to the scene, while additional deployments have been made to track down the perpetrators.
They reiterated that night mining activities remain prohibited in the state, stressing that investigations into the incident are ongoing.
Four Killed, Three Injured in Attack on Illegal Mining Site in Plateau
NA CAT Week: Army Flags Off Free Medical Outreach in Kaduna Community
Troops Arrest Two Suspected Terrorists in Borno, Recover Phones and Charms
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