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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
Remi Tinubu commissions nursing quarters, two mega schools in Borno
By: Michael Mike
The First Lady of Nigeria, Senator Oluremi Tinubu, on Monday commissioned newly completed nursing quarters and two mega primary schools in Maiduguri, the Borno State capital, as part of ongoing efforts to strengthen healthcare delivery and expand access to quality education in the state.
The projects were executed under Governor Babagana Zulum’s administration, which has continued to prioritize infrastructure development in the health and education sectors.
The newly inaugurated nursing quarters, located beside the State Specialist Hospital, consist of eight blocks of six flats each. The housing units are fully furnished and fitted with air-conditioning systems to improve living conditions for medical personnel.
In the education sector, Senator Tinubu also commissioned Aliyakeri and Abbaganaram Mega Primary Schools. Each facility features 48 classrooms designed to accommodate thousands of pupils, alongside ICT centres, modern sports facilities, e-learning platforms, and solar-powered systems to ensure uninterrupted academic activities.
Speaking at the ceremony, the First Lady commended Governor Zulum’s leadership style, describing the projects as people-focused and impactful.
“What we have seen so far in Borno is quite encouraging. You have done very well, and I am truly honoured to be part of this commissioning,” she said.
Governor Zulum’s administration has reportedly completed 104 mega schools across the state, with additional projects ongoing across Borno’s 27 local government areas.
During the event, Senator Tinubu also flagged off a N200 million empowerment programme targeting 2,000 vulnerable women. Each beneficiary is expected to receive N100,000 alongside a sewing machine to support small-scale businesses and improve household income.
The First Lady praised the initiative, noting that it aligns with national efforts to strengthen community-based economic empowerment and food security programmes.
Under the distribution plan, 400 women were selected from Maiduguri metropolis, 200 from Jere Local Government Area, 100 from Biu, while 50 beneficiaries were drawn from each of the remaining 24 local government areas.
In addition, eight outstanding education workers, including teachers, head teachers, principals, TVET coordinators, and ministry staff, were presented with brand-new utility vehicles in recognition of their service.
In a related gesture, Governor Zulum also presented a house to a ministry watchman, Baba Modu Fandi, in appreciation of his dedication, while Senator Tinubu further supported him with an additional ₦2 million financial assistance.
Remi Tinubu commissions nursing quarters, two mega schools in Borno
Two Men Sustain Severe Injuries in Mutual Attack Over Mining Site Dispute in Niger State
By: Zagazola Makama
Two men are receiving treatment at a hospital in Niger State after sustaining serious injuries in a violent altercation reportedly linked to a dispute at an illegal mining site.
Security sources told Zagazola that the incident occurred in a Fulani settlement near Iwa village in Gurara Local Government Area.
The sources said the matter was reported to the police on April 25 at about 1:30 p.m. after the victims were brought in by the Officer-in-Charge of Iwa Outstation.
According to the sources, the confrontation began on April 24 at about 9:00 a.m. when Jibril Yusuf, 22, allegedly went to the hut of Haruna Tukur, 35, and set him ablaze after a misunderstanding at an illegal mining site.
The sources further stated that Haruna Tukur, in retaliation, attacked Jibril Yusuf with a machete, severing his fingers during the violent exchange.
Both men were rushed to the General Hospital in Gawu Babangida, where they are currently responding to treatment.
Security operatives said investigations have commenced to determine the full circumstances surrounding the incident, while the case remains under active review.
Two Men Sustain Severe Injuries in Mutual Attack Over Mining Site Dispute in Niger State
Windstorm Damages NYSC Camp in Niger, Two Children Injured
By: Zagazola Makama
A heavy windstorm following a downpour has caused partial damage to structures at the National Youth Service Corps (NYSC) Orientation Camp in Paiko, Niger State, leaving two children injured.
Security sources told Zagazola that the incident occurred on April 25 at about 8:00 p.m. when strong winds brought down parts of the camp infrastructure during the rainfall.
The sources said police personnel were immediately mobilised to the scene to restore order and provide security, while some corps members were safely evacuated from affected areas.
According to the sources, no loss of life was recorded in the incident.
However, two girls identified as Fati Abdul, 12, and Adewumi Adesola, 11, sustained minor injuries during the incident. They were taken to a medical facility, treated and later discharged.
The sources added that normalcy has since been restored at the camp, while the area remains calm and under observation to ensure continued safety of occupants.
Windstorm Damages NYSC Camp in Niger, Two Children Injured
Remi Tinubu commissions nursing quarters, two mega schools in Borno
Two Men Sustain Severe Injuries in Mutual Attack Over Mining Site Dispute in Niger State
Windstorm Damages NYSC Camp in Niger, Two Children Injured
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