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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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Ogwashi-Uku Palace Attack Trial: Gunshot Victim Identifies Mike Nwaukoni As Ringleader As Multiple Witnesses Place Defendants At Scene With Weapons

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Ogwashi-Uku Palace Attack Trial: Gunshot Victim Identifies Mike Nwaukoni As Ringleader As Multiple Witnesses Place Defendants At Scene With Weapons

Ogwashi-Uku Palace Attack Trial: Gunshot Victim Identifies Mike Nwaukoni As Ringleader As Multiple Witnesses Place Defendants At Scene With Weapons

Ogwashi-Uku Palace Attack Trial: Gunshot Victim Identifies Nwaukoni As Ringleader As Multiple Witnesses Place Defendants At Scene With Weapons

Fresh revelations emerged at the Federal High Court, Asaba, as the trial over the October 12, 2023 terrorist-style attack on the Palace of the Obi of Ogwashi-Uku resumed, with witnesses giving direct, consistent, and corroborated testimony identifying Mr Mike Nwaukoni as the principal actor who led an armed mob to the palace, resulting in gunfire, injuries, and destruction of property.

On Tuesday, January 13, the court heard the gripping testimony of PW2, Mr Lawrence Obasi, an Otulu vigilante who sustained gunshot injuries that left his right arm paralysed for months.

PW2 told the court that he was officially deployed alongside the police to protect the palace on the day of the attack, having undergone formal vigilante training by the police two years earlier. According to him, Mike Nwaukoni personally led a large mob armed with dangerous weapons to the palace gate at Ogbe-Nti.

He testified that despite clear warnings and instructions from the Divisional Police Officer and the police commander at the scene, the mob—acting on Nwaukoni’s direct encouragement—attempted to forcibly break into the palace.

“He told them to break the gate and said he had money to take care of anything that happened,” the witness told the court.

Moments later, gunshots rang out.
PW2 narrated how armed supporters opened fire, damaging police and vigilante vehicles and hitting him with live ammunition as he sought cover inside one of the vehicles. He positively identified Elue Adigwe and Francis Okolie as being present at the scene and fully armed.

His account directly corroborated the earlier testimony of PW1, the police commander who had testified last year that Mike Nwaukoni personally led the armed crowd, stressing that no police officer accompanied the mob and that it was not a lawful procession but an armed attack.

The police commander had also told the court that Nwaukoni had invited him and the DPO to his residence days before his testimony in what observers concluded was an attempt to obstruct justice by getting him to stop his testimony scheduled for the next week.

THIRD WITNESS CONFIRMS IDENTITIES, WEAPONS, AND HISTORY OF VIOLENCE
On Wednesday, PW3, Mr Emeka Nwaolisa, a palace vigilante, took the stand and reinforced the prosecution’s case, confirming the identity of the same defendants, their presence at the palace gate, and the use of offensive weapons during the attack.

PW3 testified that he was stationed at the locked palace gate when over 200 persons marched toward the palace, among them Mike Nwaukoni, Elue Adigwe, Francis Okolie, and others. He stated that on Nwaukoni’s orders, gunfire erupted as the mob attempted to force entry, leading to chaos and injuries.

During cross-examination, PW3 also revealed that Eugene Ojo Izediunor had previously boasted at a public drinking spot that he used money to “settle” his way out of an earlier case, a conversation witnessed by multiple persons.

He further told the court that the defendants had a long-standing history of orchestrated violence and unrest aimed at destabilising the community and undermining the traditional institution.

SPIN FAILS TO DENT CORE FACTS
While defence counsels consisting of four senior advocates attempted to divert attention to procedural arguments and minor inconsistencies, the central facts remained unshaken:
• Multiple eyewitnesses independently identified the same defendants
• Weapons were present and used
• Gunshots were fired
• A vigilante suffered gunshot injuries
• Vehicles were damaged
• The palace came under armed siege

The court admitted two statements made by PW3 as exhibits and adjourned the matter to April 21 and 22, 2026, with the trial set to continue.
The five defendants—Mike Nwaukoni, Elue Adigwe, Francis Okolie, Eugene Ojo Izediunor, and John Nwona—were all present in court.

As proceedings continue, the testimony so far paints a clear, consistent, and deeply troubling picture of a coordinated armed assault on a traditional institution, now firmly laid before the court under oath.

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Armed bandits kill man, abduct nine in macitta village, niger state

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Armed bandits kill man, abduct nine in macitta village, niger state

By: Zagazola Makama

Nine people were abducted and one man killed when armed bandits attacked Macitta village in Mariga Local Government Area (LGA) of Niger State late Wednesday night, sources confirmed.

Sources said that around 11:30 p.m., a large group of armed bandits entered the community via Kotonkoro District, shooting sporadically. One of the residents, Aliyu Dan Tsohon Soja, 35, was shot dead during the attack. The identities of the nine abducted victims are yet to be confirmed.

Security forces , local vigilantes, and hunters were mobilized to the area, and the body of the deceased was evacuated to the General Hospital, Bangi, for autopsy. Efforts are ongoing to track down the attackers and ensure the safe rescue of the kidnapped individuals.

Authorities have urged residents to remain alert and report any information that may assist in the rescue operations and apprehension of the bandits.

Armed bandits kill man, abduct nine in macitta village, niger state

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Three children die in bush fire while grazing cattle in Mokwa, Niger state

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Three children die in bush fire while grazing cattle in Mokwa, Niger state

By: Zagazola Makama

Three children lost their lives after being engulfed by fire while grazing cattle in Tungan-Noma village, Mokwa Local Government Area (LGA) of Niger State on Wednesday, sources confirmed.

According to sources, the children Huzairu (12), Aliru (11), and Kabiru Surajo (12) went out for cattle grazing around 12:30 p.m. and entered a deep gully in the bush.

They reportedly set dried grasses on fire in an attempt to trap small bush animals. Unfortunately, the flames spread rapidly, trapping the children and preventing their escape.

The lifeless bodies were recovered and evacuated to the General Hospital, Mokwa, for autopsy. Authorities visited the scene to assess the circumstances surrounding the tragedy.

The incident draw attention to the dangers children face in rural areas, particularly when engaging in outdoor activities without supervision.

Parents have been urged to exercise caution and ensure children’s safety during such activities.

Three children die in bush fire while grazing cattle in Mokwa, Niger state

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