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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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KACRAN Applauds Buni’s Leadership, Cites Job Creation and Food Security Gains in Yobe

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KACRAN Applauds Buni’s Leadership, Cites Job Creation and Food Security Gains in Yobe

By: Michael Mike

The Kulen Allah Cattle Rearers Association of Nigeria (KACRAN) has commended Yobe State Governor, Mai Mala Buni, for what it described as visionary leadership that has significantly improved job creation, food security, and overall wellbeing of citizens in the state.

In a statement signed by its National President, Khalil Mohammed Bello, the association said the desire of any society is to have a leader who prioritizes the welfare, security, and long-term prosperity of the people, noting that Governor Buni embodies such qualities.

KACRAN praised the governor’s humility and accessibility, describing him as a leader who maintains close contact with citizens to better understand their needs and challenges. According to the association, this people-oriented approach has contributed to sustained peace and unity in Yobe State.

Highlighting key achievements, the group noted that Buni’s administration has consistently invested heavily in agriculture by procuring and distributing farm inputs to farmers at subsidized rates. This, it said, has boosted food production and strengthened food security not only in Yobe but across neighboring states.

The association also lauded the establishment of a dedicated Ministry of Livestock, which it said has reinforced Yobe’s position as a leading livestock hub in Nigeria. It added that the construction of modern markets across major towns has further enhanced commercial activities within the state.

On human capital development, KACRAN pointed to the award of scholarships to thousands of students for studies within and outside Nigeria, as well as the construction and rehabilitation of roads, bridges, and other infrastructure to improve connectivity between rural and urban areas.

The group further commended the governor for creating employment opportunities through recruitment into the civil service and various empowerment programmes targeting youths and women.

KACRAN also acknowledged the efforts of the Yobe State Emergency Management Agency (SEMA), led by Mohammed Goje, in providing relief materials to internally displaced persons and vulnerable populations affected by insurgency, floods, and other disasters.

It noted that during the ongoing Ramadan, the state government has intensified food distribution initiatives, ensuring that thousands of households receive daily support as part of broader measures to cushion economic hardship.

While stressing the importance of proactive governance, KACRAN urged other state governments and the Federal Capital Territory to emulate Yobe’s approach to investing in agriculture, human development, and security in order to avert potential food crises and improve living standards nationwide.

The association concluded that sustained commitment to these priorities would promote peace, unity, and long-term stability across the country.

KACRAN Applauds Buni’s Leadership, Cites Job Creation and Food Security Gains in Yobe

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CDS urges Borno, Yobe residents to take ownership of fight against terror, says enemy operating from within

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CDS urges Borno, Yobe residents to take ownership of fight against terror, says enemy operating from within

By: Zagazola Makama

The Chief of Defence Staff (CDS), Gen. Olufemi Oluyede, has raised fresh concerns over internal complicity in the protracted insurgency in the North-East, urging residents of Borno and Yobe to take ownership of the fight against terrorism.

Oluyede’s position, articulated after a high-level security meeting in Maiduguri, signals a strategic shift in emphasis from purely kinetic military operations to community-driven counterinsurgency, as Nigeria battles the enduring threat posed by Boko Haram and the Islamic State West Africa Province.

The meeting, which lasted about four hours, brought together top military commanders, including the Chief of Army Staff, Lt.-Gen. Waidi Shuaibu, the Theatre Commander of Operation Hadin Kai, Maj.-Gen. Abdulsalam Abubakar and other top military officials.

At the heart of the CDS’s message is a troubling reality: the insurgency is being sustained, in part, by individuals that sometimes embedded within affected communities.

According to Oluyede, intelligence reports indicate that many of those responsible for attacks over the past 15 years originate from the same communities bearing the brunt of the violence.

This assertion reinforces long-standing concerns within security circles that local knowledge terrain familiarity, social networks, and community cover has continued to provide operational advantages to insurgents.

He cited a recent example in Kukawa, where troops discovered wounded terrorists hiding within the community during post-attack clearance operations, pointing to the challenge of distinguishing between civilians and collaborators.

The dynamics complicate military efforts, as insurgents exploit familial and social ties to evade detection, making intelligence gathering more difficult despite sustained offensives.

The CDS’s call for residents to “take ownership” reflects a recognition that military القوة alone cannot decisively end the insurgency without active civilian cooperation.

Oluyede’s remarks suggest a push to recalibrate this dynamic by encouraging residents to see the fight as a collective responsibility rather than solely a government burden.

The CDS also acknowledged the evolving tactics of insurgents, particularly the increasing use of drones and other technological in attacks.

Oluyede disclosed that the Nigerian military is adapting, including the deployment of advanced drone systems to enhance surveillance, targeting, and battlefield coordination.

CDS urges Borno, Yobe residents to take ownership of fight against terror, says enemy operating from within

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FG Pushes for Correctional Reform via Public-Private Partnership

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Dr Magdalene Ajani, Permanent Secretary of Interior, (center), CG Nigerian Correctional Service (NCOS) Sylvester Nwakuche, Mni. (R) and Executive Director of Hope Behind Bars Africa, Funke Adeoye (L).

FG Pushes for Correctional Reform via Public-Private Partnership

By: Michael Mike

The Federal Government has reaffirmed its commitment to transforming Nigeria’s correctional system into a hub of rehabilitation, skills development, and national productivity through strategic Public-Private Partnerships (PPPs).

The pledge was highlighted at a stakeholders’ engagement on optimizing correctional farm centres, industries, and PPP opportunities, organized by the Ministry of Interior in collaboration with civil society and development partners.

Representing the Honourable Minister of Interior, Dr. Olubunmi Tunji-Ojo, Permanent Secretary Dr. Magdalene Ajani stated that modern correctional facilities must focus not only on confinement but also on equipping inmates with practical skills for reintegration into society. “Correctional centres must evolve into institutions of transformation—where inmates are prepared to become productive members of society upon release,” she said.

Ajani emphasized the importance of PPPs in achieving this vision, describing them as critical tools for combining government oversight with private sector expertise, innovation, and investment. She added that correctional farm centres and industries could become centres of excellence in agriculture, agro-processing, and value-chain development, contributing to both inmate rehabilitation and national food security.

The Controller-General of the Nigerian Correctional Service, Sylvester Nwakuche, disclosed that the Service currently operates 18 farm centres and 10 cottage industries nationwide, spanning crop production, livestock, fisheries, and poultry.

He noted that collaboration with the private sector would boost productivity, introduce modern techniques, and create sustainable value chains.

Stakeholders, including representatives from government, civil society, development organisations, and the private sector, agreed on the need for actionable and scalable models to drive tangible impact.

On his part, the Chairman of the House Committee on Reformatory Institutions Hon. Chinedu Ogah, called for greater accountability, innovation, and commitment in optimizing correctional farms, noting that agriculture remains a critical driver of economic growth and national security.

The engagement aligns with President Bola Ahmed Tinubu’s administration’s broader reform agenda, which prioritizes institutional strengthening, economic productivity, and sustainable development. Participants were urged to leverage partnerships that transform correctional facilities into engines of productivity, reduce recidivism, and enhance community safety.

The Ministry of Interior reiterated that the success of correctional reform depends on collective action, sustained investment, and a shared commitment to building a humane and development-oriented correctional system.

FG Pushes for Correctional Reform via Public-Private Partnership

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