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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
News
Troops Foil Kidnap Attempt, Rescue Two Victims in Kaduna
Troops Foil Kidnap Attempt, Rescue Two Victims in Kaduna
By: Zagazola Makama
Troops of the Nigerian Army have foiled a kidnap attempt and rescued two victims following a swift response to a distress call in Kaduna State.
Security sources said that the incident occurred at about 1:00 a.m. on April 21, when troops deployed under Operation Enduring Peace at Ungwan Gora checkpoint received reports of gunshots suspected to be from kidnappers.
The sources said the attack took place along the axis between Ungwan Dariya and Rafin Tagwi Bridge in Sanga Local Government Area.
“On receipt of the report, troops responded immediately and moved to the location, where they made contact with the suspected kidnappers,” a source said.
According to the source, the troops engaged the attackers, forcing them to flee into nearby bushes and abandon their victims.
During the operation, two persons who sustained gunshot wounds were rescued by the troops and promptly evacuated to a medical facility for treatment.
Military authorities said the swift intervention of the troops prevented what could have escalated into a successful abduction.
They added that patrols have been intensified within the area to track down the fleeing suspects and forestall further criminal activities.
The Nigerian Army reaffirmed its commitment to safeguarding lives and property, urging residents to continue providing timely information to security agencies.
Troops Foil Kidnap Attempt, Rescue Two Victims in Kaduna
News
Military Airstrikes Neutralise Over 30 ISWAP Terrorists in Lake Chad Axis
Military Airstrikes Neutralise Over 30 ISWAP Terrorists in Lake Chad Axis
By: Zagazola Makama
The Nigerian military under Operation HADIN KAI has successfully neutralised over 30 terrorists belonging to the Islamic State West Africa Province (ISWAP) in a series of precision air interdiction missions conducted in the Lake Chad region of Borno state.
Sources disclosed that the operation was executed following credible Intelligence, Surveillance and Reconnaissance (ISR) inputs indicating significant terrorist activity involving logistics movement via waterways around the Kaniram Island axis.
An ISR platform, was deployed to the general area where it established overhead presence and confirmed the sighting of approximately 31 boats dispersed along the riverbank, with associated human activity consistent with ISWAP fighters.
Upon positive identification, the Air Component initiated precision strike operations in line with established Rules of Engagement and targeting protocols.
The first strike effectively disrupted the hub of terrorists and degraded their logistics capability by damaging several of the boats used for movement and supply across the waterways.
Further ISR monitoring revealed attempts by the terrorists to regroup within nearby vegetation. Consequently, follow-on strikes were conducted.
A second precision strike targeted a cluster of about eight terrorists, neutralising them, while additional elements were observed withdrawing into concealed positions.
Subsequently, a third strike was executed on another group of approximately 15 terrorists who had taken cover under tree foliage, resulting in their elimination. Battle Damage Assessment (BDA) confirmed significant attrition, with surviving elements seen dispersing from adjacent hideouts.
In a related strike mission at Sowolwolo, Military air assets engaged and neutralised nine additional terrorists identified within the area. Residual elements were observed fleeing in disarray, indicating loss of cohesion and command structure.
The Nigerian Military Command reiterated that the operation illustrated its sustained commitment to precision targeting, minimising collateral damage while maximising operational impact against terrorist elements.
Military further assured that ISR missions and offensive air operations will continue in coordination with ground forces to exploit the success achieved and deny terrorists freedom of action within the theatre.
The Service reaffirmed its resolve to sustain air superiority and contribute decisively to the restoration of peace and stability in the North East
Military Airstrikes Neutralise Over 30 ISWAP Terrorists in Lake Chad Axis
News
Troops neutralise two Fulani bandits, recover weapons in Plateau ambush operation
Troops neutralise two Fulani bandits, recover weapons in Plateau ambush operation
By: Zagazola Makama
Troops of Operation Enduring Peace have neutralised two suspected armed Fulani bandits and recovered weapons during an ambush operation in parts of Plateau state.
Security sources said the operation was carried out on April 21, 2026, around the Marit general area of Doruwa Babuje following credible intelligence on the activities of armed criminals in the area.
According to the sources, the suspects were known for attacking locals, engaging in armed robbery and other violent crimes.
The troops, acting on the intelligence, laid an ambush and engaged the bandits, neutralising two of them while others fled the scene.
Items recovered from the suspects include a locally fabricated rifle, five rounds of 7.62×39mm ammunition, a cutlass, a jack knife and a mobile phone.
The sources added that troops remained deployed in Marit and Lajam villages, maintaining ambush positions and conducting patrols to track down the fleeing suspects.
They said the general security situation in the area remains under control, while operations are ongoing to apprehend other members of the criminal group.
Military authorities reiterated that troops would sustain offensive operations to rid the area of criminal elements and ensure the safety of residents.
Troops neutralise two Fulani bandits, recover weapons in Plateau ambush operation
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