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VP Shettima Says Nigeria Must Transform Debt Into Economic Asset

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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

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Bego shares Buni’s achievements as journalists take a tour in Yobe

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Bego shares Buni’s achievements as journalists take a tour in Yobe

By: Yahaya Wakili

Yobe State in Northeastern Nigeria is one of the states that suffered from the Boko Haram insurgency, but with the support and effort of the security agencies, things are improving a lot.

However, one of the effects of the insurgency was to destroy the local community; the people have suffered, their lives and their livelihoods were destroyed, and many have lost their loved ones.

The State Commissioner of the Ministry of Home Affairs, Information, and Culture, Hon. Abdullahi Bego, disclosed this to a team of journalists who embarked on a media tour organized by the Yobe State government across the state. The tour started with the Kannama modern market, the headquarters of the Yunusari local government area.0

Bego further said that. His Excellency Governor Mai Mala Buni thought that there is a need to rebuild communities to reinvigorate economic activities to ensure that people can go back to their farms and their markets to ensure that they can rebuild their lives.

“Governor Buni is providing a lot of support in terms of agriculture inputs, equipment, and fertilizer, among others, adding that when people finish from their farms, they will come to their market. That is why Governor Buni decided to establish such markets so that we have control where people can transact business.” He said.

Also briefing the journalists, the commissioner of Housing and Rural Development, Architect Ahmed Buba, said since the coming of Governor Buni on board, he has constructed 9 markets and completed five ultramodern markets across the state; these include 4 modern markets that were also constructed in Yunusari, Ngalda, Machina, and Buni Yadi.

He said Yunusari, a befitting market, comprises 96 shops, 146 open stalls, and 46 stalls, where there are houses, meat shops, an administration block, a police station, a fire service station, and a banking hall, and it will boost cross-border regional trade.

The team of journalists also visited the Machina modern market, the Gashu’a-Masaba road, and the 30-kilometer Bulanguwa-Kummagana road, and the Director of Civil Engineering, Alhaji Garba Umar, said the 30-kilometer Bulanguwa-Kummagana road will be completed in the next 10 days, inshallah.

Alhaji Garba Umar revealed that a contractor has completed clearance of one hundred percent of the space and literate base, and now the execution of asphalt for about 20 kilometers is only remaining 10 kilometers.

Malam Madu Ibrahim Yunusari has commended Governor Mai Mala Buni for constructing them a befitting modern market; these, he said, will boost their businesses as well as cross-border regional trade markets with their neighboring countries.

Bego shares Buni’s achievements as journalists take a tour in Yobe

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Police neutralise two bandits, recover arms in Kaduna

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Police neutralise two bandits, recover arms in Kaduna

By: Zagazola Makama

The Police Command in Kaduna State has neutralised two suspected armed bandits and recovered arms and ammunition during a security operation in Giwalga area of Bayan Kogi District.

Sources said the operation followed credible intelligence that a bandit syndicate, allegedly led by one Kachalla Sanusi Bajira, had mobilised its members to attack Idissu Village after the community failed to meet an imposed levy.

According to the sources, operatives of the Anti-Kidnapping Unit, in collaboration with local vigilantes from Idissu Village, were deployed to the area to forestall the attack.

The police said that upon sighting the operatives, the bandits laid an ambush and engaged the security team in a gun duel.

However, the combined team reportedly overpowered the bandits with superior firepower, leading to the neutralisation of two suspects, while others fled into surrounding bushes.

Two AK-47 rifles and five rounds of live ammunition were recovered from the scene during the operation.

The police said the surrounding areas had been cordoned off, while concerted efforts were ongoing to track down and arrest the fleeing suspects.

Investigation into the incident has commenced, the command added, as it reaffirmed its commitment to sustaining the fight against banditry and other criminal activities across the state,”said the sources.
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Advocacy Group Demands Proof of NBMA Chief’s Eligibility

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Advocacy Group Demands Proof of NBMA Chief’s Eligibility

By: Michael Mike

A civil society organisation, Citizens Advocacy for Social and Economic Rights (CASER), has formally requested access to the academic and professional records of Bello Bwari, director-general of the National Biosafety Management Agency (NBMA), raising questions about his eligibility to occupy the position.

The request was submitted under the Freedom of Information (FOI) Act to the Federal Ministry of Environment.

CASER said the move was prompted by concerns that the current head of the biosafety agency may not meet the qualifications required by law.

According to the group, the NBMA Act provides that the director-general of the agency must possess at least a master’s degree in biological sciences or a related field, while noting that Bwari is widely known to be a legal practitioner, a background the organisation argues may be inconsistent with the statutory requirements for the role.

In the FOI application, CASER called on the Minister of Environment, Balarabe Lawal, to confirm the director-general’s credentials and make the information available to the public. The organisation stressed that transparency in appointments is essential for maintaining confidence in regulatory institutions.

CASER further warned that failure to clarify the issue could weaken public trust in agencies responsible for biosafety, environmental protection, and biotechnology oversight.

The group added that the matter goes beyond one appointment and reflects broader concerns about compliance with enabling laws in public offices.

Founder of CASER and a human rights lawyer,!Frank Tietie, criticised what he described as the lack of response from professionals in the scientific community. In a recent opinion article, he argued that leadership of a biosafety agency without strong scientific grounding could undermine effective regulation.

Tietie said adherence to the law must be non-negotiable, warning that overlooking statutory provisions risks eroding accountability and institutional integrity.
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