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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
Nigeria, Iran Pledge to Strengthen South–South Cooperation
Nigeria, Iran Pledge to Strengthen South–South Cooperation
By: Michael Mike
Nigeria and Iran have reaffirmed their commitment to deepening South–South cooperation and expanding bilateral relations, as officials, diplomats, and subnational leaders gathered in Abuja to mark the 47th anniversary of Iran’s Islamic Revolution.
Speaking at the event, Iranian Ambassador to Nigeria, Gholamreza Mahdavi Raja, described the anniversary as an opportunity to reflect on Iran’s journey since 1979 and to strengthen partnerships with friendly nations like Nigeria.
“The Islamic Revolution of Iran was not merely a transfer of political power; it marked the beginning of national sovereignty, popular governance, and the restoration of the dignity and independence of the Iranian nation,” he said.
Raja highlighted Iran’s achievements over the past four decades despite regional and global challenges, citing progress in science and technology, healthcare, industrial production, infrastructure, and non-oil exports. He also emphasized Iran’s commitment to balanced diplomacy, dialogue, and multilateralism, positioning the country as a responsible actor on regional and global stages.
On bilateral relations, Raja noted that Nigeria held a strategic position in Iran’s Africa policy, while Iran’s expertise in energy, industry, agriculture, healthcare, technology, and education made it a reliable partner for Nigeria’s development goals. “The deepening of friendly relations between Iran and Nigeria will not only serve the national interests of both countries but will also strengthen South–South cooperation and contribute to global peace and development,” he said.
Representing the Nigerian government, Ambassador Bukar Buni Hamman, Director of the Regions Department at the Ministry of Foreign Affairs, conveyed goodwill to Iran on the anniversary. He acknowledged the growth of economic ties between the two nations in sectors such as energy, agriculture, manufacturing, and consumer goods, highlighting opportunities for further diversification under South–South cooperation.
Nigeria, Iran Pledge to Strengthen South–South Cooperation
News
NiDCOM Hails Nigerians’ Historic Triumph at 2026 Grammy Awards
NiDCOM Hails Nigerians’ Historic Triumph at 2026 Grammy Awards
By: Michael Mike
The Chairman and Chief Executive Officer of the Nigerians in Diaspora Commission (NiDCOM), Hon. Abike Dabiri-Erewa, has congratulated three Nigerians of global acclaim — Shaboozey, Tyler, the Creator, and Cynthia Erivo — on their landmark victories at the 2026 Grammy Awards.
In a statement issued on Tuesday, Dabiri-Erewa described the Grammy wins as a moment of immense pride for Nigeria, noting that the achievements underscore the far-reaching impact of Nigerian talent and heritage on the world’s biggest cultural stages.
She said the success of Shaboozey, born Collins Obinna Chibueze; Tyler, the Creator, born Tyler Gregory Okonma; and award-winning actress and singer Cynthia Erivo, born Cynthia Chinasaokwu Onyedinmanazu Amarachukwu Owezuke Echimino Erivo, reflects the creativity, resilience and excellence deeply rooted in Nigerian identity.
According to Dabiri-Erewa, their recognition at one of the world’s most prestigious music awards goes beyond individual accomplishment, representing a collective celebration of Nigerians and people of Nigerian descent across the global diaspora.
She also acknowledged the continued global influence of Nigeria-based artistes such as Davido, Burna Boy, Ayra Starr and Wizkid, whose works have helped elevate Nigerian music and culture on the international stage.
The NiDCOM boss stressed that despite being based abroad, the Grammy-winning artistes remain unmistakably Nigerian in heritage, family history and cultural identity, adding that their success continues to amplify Nigeria’s rich cultural footprint worldwide.
Dabiri-Erewa urged Nigerians at home and in the diaspora, as well as the media and cultural institutions, to embrace a more inclusive definition of national pride — one that recognises Nigerian excellence wherever it emerges.
She noted that celebrating the achievements of Nigerians in the diaspora strengthens national unity, enhances Nigeria’s global image and serves as inspiration to younger generations aspiring to make their mark internationally.
The 2026 Grammy Awards saw several milestones for artistes of Nigerian heritage, further reinforcing Nigeria’s growing influence in global music and entertainment.
NiDCOM Hails Nigerians’ Historic Triumph at 2026 Grammy Awards
News
ECOWAS Launches Women’s Economic Empowerment and Digital Peacebuilding Pilot in Benue
ECOWAS Launches Women’s Economic Empowerment and Digital Peacebuilding Pilot in Benue
By: Michael Mike
The Economic Community of West African States (ECOWAS) has launched a pilot initiative aimed at strengthening economic empowerment and digital peacebuilding among women in Benue State, as part of efforts to address the prolonged humanitarian and displacement crisis in North-Central Nigeria.
The project, implemented through ECOWAS’ Directorate of Trade and the Directorate of Humanitarian and Social Affairs in partnership with the Benue State Government, targets women-led community-based organisations working on Women, Peace and Security (WPS) in conflict-affected communities.
The launch coincided with the start of a five-day capacity-building programme running from February 9 to 13, featuring a Training of Trainers (ToT) for 12 participants drawn from community-based organisations, civil society groups and internally displaced persons (IDP) camps.
The trained participants are expected to cascade the knowledge through step-down sessions that will reach at least 60 women and girls in selected IDP camps and host communities across the state.
The initiative responds to the persistent displacement and humanitarian challenges in Benue State and aligns with the state’s Durable Solutions Action Plan, which prioritizes sustainable reintegration of displaced persons through livelihood recovery, peacebuilding and community resilience.
ECOWAS said the pilot recognises the critical role played by women-led grassroots organizations in mobilising communities, promoting social cohesion and advancing peace in areas affected by conflict. The project is designed to strengthen their institutional capacity while equipping conflict-affected women and girls with practical economic and digital skills.
Anchored in ECOWAS Vision 2050, the Trade and Gender Action Plan and the ECOWAS E-Commerce Strategy (2023), the pilot integrates economic empowerment, digital literacy and digital peacebuilding through a cascade training model. Trained WPS organizations will deliver step-down sessions directly within IDP camps and host communities.
Speaking at the opening ceremony, ECOWAS Director Dr. Sintiki Tarfa-Ugbe described the initiative as a strategic intervention that empowers women-led organizations to drive durable solutions at the grassroots while harnessing digital tools to promote inclusion, resilience and peace.
She noted that strengthening women’s economic agency and digital capacity is essential to building sustainable peace in fragile and displacement-affected communities.
In her remarks, the Secretary to the Benue State Government, Barrister Aber Serumum Deborah, commended ECOWAS for the initiative, saying it would reinforce grassroots peacebuilding efforts and enhance women’s participation in implementing the state’s Durable Solutions Action Plan.
According to her, the project will also contribute to livelihood recovery for women and girls affected by conflict, while strengthening community ownership of peace and reintegration processes.
The pilot will be implemented over a two-month period, beginning with preparation and adaptation of training modules, followed by training delivery, monitoring and documentation. ECOWAS said the initiative is expected to produce a scalable model that can be replicated across other Member States in the region.
The launch ceremony was attended by representatives of the Benue State Government, humanitarian and displacement-response agencies, civil society organisations, non-governmental organisations, internally displaced persons, as well as officials from ECOWAS and the International Organization for Migration (IOM).
ECOWAS said the initiative underscores its commitment to placing women and girls at the centre of durable solutions and sustainable peacebuilding in West Africa, leveraging digital innovation to address immediate recovery needs while laying the foundation for long-term regional impact.
ECOWAS Launches Women’s Economic Empowerment and Digital Peacebuilding Pilot in Benue
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