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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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International Women’s Day: Eight Actions for A More Equal World

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International Women’s Day: Eight Actions for A More Equal World

By: Michael Mike

Over nearly a decade leading the United Nations, I have seen our world repeatedly tested – by climate shocks, deepening poverty, violent conflict and shrinking civic space.

But I have also watched many solutions take root, and they shared one common denominator: women.

As the world marks International Women’s Day, it is time to recognize that gender inequality is the greatest human rights challenge of our time – and advancing equality is one of the strongest drivers of sustainable development and peace.

Here are eight actions drawn from my own experience, and inspired by the work of the UN system and civil society movements across the globe, to advance women’s rights and deliver results.

  1. Fix the Power Gap
    Gender equality is a question of power. But male-dominated institutions still shape our world. A rising tide of authoritarianism is deepening these inequalities, rolling back hard-won protections – from fair work practices to reproductive rights – and entrenching racial and gender biases that hold women back. Gender equality lifts societies. When power is shared, freedom expands.
  2. Make Parity a Priority ​
    Women are grossly under-represented in governments and boardrooms across the globe. At the United Nations, we set out to make gender parity a priority, starting with senior leadership. We did this by widening the search for qualified candidates, not by lowering standards. The UN is stronger for it, with an enhanced workplace culture and more inclusive decision-making. The lesson is clear. When institutions choose equality, results follow.
  3. Bet on the Highest-Return Investment
    Investment in women delivers outsized returns. Every dollar spent on girls’ education yields nearly triple the gains, while maternal health and family planning generate more than eightfold benefits. Policies that support families such as child care and elder care strengthen communities and unlock even more growth. Taken together, such steps lay the foundation for closing gender gaps – which can boost national income by as much as 20%.
  4. Make Room at the Peace Table
    Peace agreements are more durable when women take part in negotiating and implementing them. Yet in too many conflicts – including Gaza, Ukraine, and Sudan – women have been largely shut out of the room, even though they carry the heaviest burdens of war. At a time of rising instability, inclusion is not symbolic – it is a shortcut to stabilize our fractured world.
  5. End Legal Discrimination
    Worldwide, women hold only 64 per cent of the legal rights enjoyed by men. In too many places, they cannot own property, work freely, or seek a divorce. Even where protections exist, women face higher barriers to access legal aid or the courts. Every country must commit to dismantling discriminatory laws, and to enforcing rights in practice.
  6. Zero Tolerance for Gender-Based Violence – and Zero Excuses
    Violence against women is a global emergency, rooted in inequality and sustained by silence. Every woman and girl has the right to live free from fear. Yet gender-based violence – including sexual exploitation and abuse – remains a horrific breach of trust and humanity. We must confront it everywhere, with zero tolerance, full accountability, and unwavering support for survivors.
  7. Code Out Bias
    With women comprising just one in four tech workers, bias is being hardwired into the systems that shape daily lives. Meanwhile, misogyny is exploding online. Technology companies and governments must act together to build safe, inclusive digital spaces – and the world must do more to remove barriers for girls in science and technology.
  8. Put Gender in the Climate Plan
    Climate change is sexist. Women often eat last in food crises and endure greater danger in emergencies. Girls face higher risks of child marriage when livelihoods collapse. But women are also leading climate solutions – advancing green legislation, powering global movements, and driving change on the ground. A liveable planet demands gender-responsive climate policies, including equal access to green jobs, better protection in emergencies, and full participation in environmental decision-making.

Across the globe, I have seen these eight solutions in action – in war zones and recovery efforts, parliaments and classrooms, organizations and communities.

If leaders get serious about gender equality and commit to them now, we will change the world – for women and girls, and for us all.

International Women’s Day: Eight Actions for A More Equal World

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Israel Accuses Iran of Terror Links, Cites Activities in Nigeria

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Israel Accuses Iran of Terror Links, Cites Activities in Nigeria

By: Michael Mike

The Embassy of Israel in Nigeria has accused Iran of sponsoring terrorism across the globe and backing militant networks, including alleged links to activities in Nigeria.

In a statement issued in Abuja, the Israeli mission challenged recent remarks by Iran’s envoy to Nigeria denying Tehran’s involvement in terrorism, insisting that evidence accumulated over the years contradicts such claims.

The embassy said Iran has long been identified by several governments and security agencies as a major state sponsor of terrorism, accusing the country of providing funding, weapons, training and strategic guidance to militant groups such as Hamas, Hezbollah and the Houthi movement.

According to the statement issued on Monday, these groups have carried out attacks against civilians and contributed to instability in several parts of the world, particularly in the Middle East.

The embassy further alleged that Iranian-backed operatives and networks have been linked to attacks and plots in different countries, including Argentina, Bulgaria, Australia and the United Kingdom.

Highlighting developments in the Middle East, the mission said Iranian leaders publicly praised the October 7 attacks carried out by Hamas against Israeli civilians and encouraged further violence against Israel.

The embassy also pointed to past incidents in Nigeria which it said suggested Iranian-linked activities within the country.

It recalled that in 2010, Nigerian authorities intercepted a shipment of weapons originating from Iran at Apapa Port in Lagos, concealed in containers allegedly destined for militant groups in West Africa.

The statement also referenced a 2013 operation by Nigerian security agencies in which a Hezbollah-linked cell and weapons cache were uncovered, leading to arrests in Abuja and Kano. Authorities at the time said the weapons were intended for attacks against Israeli and Western interests in Nigeria.

Israel’s Ambassador to Nigeria, Michael Freeman, said Iran’s repeated denials could not erase what he described as a documented history of support for militant organisations.

“The Iranian regime can make as many statements as they like and appear on as many television channels as they want. But facts speak louder than words. The reality is that Iran is the world’s largest sponsor of terrorism and has backed the Islamic Movement of Nigeria for years,” he said.

The embassy said it considered it necessary to challenge what it described as misinformation, stressing that terrorism remains a major threat to global peace and stability, including in Nigeria.

Israel Accuses Iran of Terror Links, Cites Activities in Nigeria

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NSCDC Warns Contractors Over Damage to Fibre Optic Cables in Abuja

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NSCDC Warns Contractors Over Damage to Fibre Optic Cables in Abuja

By: Michael Mike

The Nigeria Security and Civil Defence Corps (NSCDC) has issued a strong warning to construction companies and contractors operating in the Federal Capital Territory, cautioning them to stop damaging underground fibre-optic cables during excavation works or face prosecution.

The warning was issued by the FCT Commandant of the Corps, Olusola Odumosu, who expressed concern over the growing cases of fibre-optic cable destruction across Abuja due to negligence and poor planning by construction firms.

Odumosu said the increasing damage to the communication infrastructure has led to repeated disruption of internet services, banking operations, telecommunications networks and other critical government and commercial activities.

According to him, the destruction of fibre-optic cables constitutes a serious national security risk and undermines economic activities in the country.

He explained that under the Designation and Protection of Critical National Information Infrastructure Order 2024, telecommunications infrastructure, including fibre-optic cables, has been classified as Critical National Information Infrastructure, making any deliberate or negligent damage a punishable offence.

The Commandant noted that the Corps derives its powers from the Nigeria Security and Civil Defence Corps Act 2003 (as amended in 2007), which empowers it to protect national assets, maintain round-the-clock surveillance on critical infrastructure and prosecute offenders involved in vandalism and sabotage.

He added that the law authorises the Corps to arrest, detain and investigate individuals or organisations responsible for damaging public utilities such as communication cables, power transmission lines, pipelines and other strategic facilities.

Odumosu disclosed that in line with directives from the Office of the National Security Adviser, contractors must verify the presence of underground utilities before commencing excavation or drilling in the FCT.

He directed all construction firms to liaise with telecommunication service providers, the NSCDC and relevant authorities before carrying out digging or drilling activities, stressing that ignorance of the presence of fibre-optic cables will not be accepted as a defence.

The NSCDC boss further warned that the Corps would not tolerate vandalism or interference with critical national assets such as power installations, oil and gas pipelines, rail infrastructure, water facilities, communication masts and government buildings.

He said offenders—whether individuals, companies or government contractors—would face prosecution under existing laws, including the Cybercrimes (Prohibition, Prevention, etc.) Act 2015 and other relevant legislation protecting national infrastructure.

Odumosu assured residents that the NSCDC remains committed to safeguarding critical national assets across the capital territory and urged contractors to strictly comply with verification procedures before undertaking civil works.

He also called on members of the public, professional bodies and project managers to report suspicious excavation activities or vandalism of public infrastructure to the nearest NSCDC formation for prompt response.

The Commandant reiterated the Corps’ zero-tolerance for vandalism, urging organisations and stakeholders to collaborate with the agency to protect public utilities and ensure sustainable economic growth.

NSCDC Warns Contractors Over Damage to Fibre Optic Cables in Abuja

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