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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).

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Nigeria Moves to Reinforce Global Diplomatic Presence with Deployment of 25 Ambassadors

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Nigeria Moves to Reinforce Global Diplomatic Presence with Deployment of 25 Ambassadors

By: Michael Mike

Nigeria is poised to deepen its diplomatic footprint worldwide as the Federal Government concludes arrangements to deploy a new batch of 25 ambassadors to strategic missions abroad, marking a significant step in the country’s renewed foreign policy drive.

The spokesperson of the Ministry of Foreign Affairs, Kimiebi Ebienfa, disclosed this on Friday in Abuja while briefing journalists on key developments within the ministry and Nigeria’s ongoing diplomatic engagements.

He revealed that the process has advanced considerably, with the government already securing over 25 formal acceptances—known in diplomatic circles as agrément—from host countries. The approvals signal that the receiving nations have completed due diligence and formally consented to the appointment of Nigeria’s nominees.

Describing the development as a critical milestone, Ebienfa announced that a high-level induction programme for the envoys has been scheduled to hold from April 26 to 29, 2026. He said the exercise would serve as a strategic orientation platform, preparing the ambassadors for the complex demands of representing Nigeria’s interests abroad.

“We have received more than 25 agreements from countries where ambassador-designates have been sent. With the induction programme scheduled for later this month, deployment will commence immediately after the exercise,” he stated.

According to him, the induction will go beyond ceremonial briefings, focusing on the practical realities of modern diplomacy, including bilateral engagement strategies, conduct and protocol in host countries, economic diplomacy, and alignment with Nigeria’s foreign policy priorities under President Bola Ahmed Tinubu.

He added that, in line with diplomatic tradition, spouses of the envoys would also participate in aspects of the programme, reflecting their supportive role in representing the country’s image and values overseas.

While most of the ambassador-designates are expected to proceed to their duty posts immediately after the induction, Ebienfa noted that a few postings may still be subject to final administrative clearances.

He noted that even if any of the ambassador-designates is rejected by the country to which he or she is posted, there is still room for reassignment to another country.

The imminent deployment is seen as a decisive move by the Federal Government to revitalise Nigeria’s diplomatic architecture, strengthen bilateral and multilateral ties, and position the country more assertively on the global stage amid shifting geopolitical and economic realities.

Nigeria Moves to Reinforce Global Diplomatic Presence with Deployment of 25 Ambassadors

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FG Cracks Down on Fake Ambassadors, Criminalises Unauthorised Use of Diplomatic Titles

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FG Cracks Down on Fake Ambassadors, Criminalises Unauthorised Use of Diplomatic Titles

By: Michael Mike

The Federal Government has moved decisively to protect the sanctity of Nigeria’s diplomatic system, declaring the unauthorised use of ambassadorial titles a criminal offence punishable under the law.

Raising alarm over what it described as a disturbing rise in impersonation and fraudulent conferment of diplomatic ranks, the spokesperson of the Ministry of Foreign Affairs, Kimiebi Ebienfa, said the development has exposed the country to reputational risks and international embarrassment.

Speaking in Abuja on Friday, Ebienfa warned that only the President, Bola Ahmed Tinubu, possesses the constitutional authority to appoint and accredit ambassadors, stressing that any individual or group claiming otherwise is acting illegally.

He described as “worrisome” the activities of unscrupulous persons and organisations that confer ambassadorial titles on themselves or unsuspecting members of the public, often for financial gain or social influence.

According to him, such practices have no basis in Nigerian law or international diplomatic conventions and amount to outright impersonation.

“The Ministry has observed with grave concern the increasing trend of individuals usurping diplomatic titles and fraudulently presenting themselves as ambassadors. These actions are illegal and undermine the credibility of Nigeria’s foreign representation,” he said.

Ebienfa listed common violations to include the unauthorised use of titles such as “Ambassador” and “Diplomatic Envoy,” the issuance of fake diplomatic passports and identity cards, as well as the circulation of counterfeit vehicle plate numbers bearing official insignia.

He cautioned Nigerians against accepting such titles from unofficial bodies, warning that those who parade themselves as ambassadors based on such conferment are committing a criminal offence and risk prosecution.

In a key clarification, the ministry noted that while individuals may be appointed as brand ambassadors for commercial or promotional purposes, such recognition does not confer any legal or diplomatic status.

“Brand ambassadors remain what they are—representatives of products or services. They are not entitled to adopt or prefix the title ‘Ambassador’ to their names in a diplomatic sense,” he emphasised.

To enforce compliance, Ebienfa disclosed that the ministry is working closely with relevant security and regulatory agencies, including the Nigerian Immigration Service and the Federal Road Safety Corps, to identify, arrest, and prosecute offenders. The crackdown will also target the production and use of fake diplomatic documents and unauthorised number plates.

He reaffirmed the government’s commitment to preserving the integrity of Nigeria’s diplomatic service, warning that any act capable of misrepresenting the country on the global stage will not be tolerated.

“The Federal Government will continue to take firm actions against individuals or groups whose activities bring Nigeria into disrepute. The integrity of our diplomatic system is non-negotiable,” he said.

FG Cracks Down on Fake Ambassadors, Criminalises Unauthorised Use of Diplomatic Titles

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Nigeria Accelerates Peace Reform Drive as Stakeholders Push for Adoption of National Peace Policy

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Nigeria Accelerates Peace Reform Drive as Stakeholders Push for Adoption of National Peace Policy

By: Michael Mike

Nigeria has intensified efforts to establish a unified national framework for peacebuilding as top security and governance stakeholders convened in Abuja for the Second High-Level Expert Dialogue on the Draft National Peace Policy (NPP), aimed at overhauling the country’s fragmented conflict management system.

The dialogue, convened by the Institute for Peace and Conflict Resolution (IPCR) in partnership with the Office of Strategic Preparedness and Resilience (OSPRE) and Triple Peace Africa, brought together policymakers, security experts, academics, civil society leaders, and development partners to refine and advance the proposed national framework.

Opening discussions, the Director-General of IPCR, Dr. Joseph Ochogwu, said Nigeria’s worsening and interconnected security challenges make the adoption of a coherent peace policy both urgent and unavoidable.

He pointed to the persistence of insurgency in the Northeast, farmer-herder conflicts in the Northcentral, separatist tensions in the Southeast, and widespread banditry and kidnapping in the Northwest, warning that the cumulative impact of these crises continues to strain national cohesion.

According to him, the spread of small arms, coupled with weakening trust between communities and institutions, has further deepened insecurity and undermined local resilience mechanisms.

Ochogwu stressed that Nigeria can no longer depend on scattered and uncoordinated interventions, insisting that only a unified, evidence-driven framework can deliver sustainable peace outcomes.

“What we require now is a nationally owned system that coordinates all peacebuilding actors, eliminates duplication, and ensures that interventions are measurable, accountable, and impactful at community level,” he said.

He explained that the Draft National Peace Policy is the outcome of extensive nationwide consultations spanning all six geopolitical zones, incorporating input from traditional rulers, civil society organisations, academic experts, government institutions, and community stakeholders.

Describing the document as a strategic shift in approach, he said the policy is designed to reposition peacebuilding from reactive crisis response to a preventive and development-oriented system anchored on data, early warning, and institutional coordination.

A major gap the policy seeks to address, he noted, is the absence of a central coordinating structure for peace initiatives across the country, a situation he said has resulted in duplication of efforts, institutional competition, and inefficient use of resources.

The proposed framework, he added, will integrate peacebuilding into core sectors including security, justice, education, health, agriculture, and governance, ensuring a whole-of-government approach to conflict prevention and stability.

Ochogwu further highlighted that the policy aligns with global and regional frameworks such as the United Nations Sustaining Peace Agenda, the Sustainable Development Goals—particularly SDG 16 on peace, justice and strong institutions—the African Union’s Agenda 2063, and the ECOWAS Conflict Prevention Framework.

He said this alignment reinforces Nigeria’s commitment to international best practices while positioning the country as a potential leader in structured peacebuilding across Africa.

Participants at the dialogue emphasised that the success of the policy will depend on strong political will, clear institutional roles, sustainable financing mechanisms, and effective coordination across all levels of government.

They warned that without decisive implementation structures, the policy risks becoming another well-crafted but inactive document.

Ochogwu urged stakeholders to take collective responsibility for the process, describing them as critical actors in shaping Nigeria’s peace architecture and cautioning against institutional silos that weaken national response systems.

He reaffirmed IPCR’s readiness to work with federal and state governments, peacebuilding agencies, civil society organisations, the private sector, and international partners to ensure the policy is finalised, adopted, and implemented without delay.

He maintained that Nigeria’s stability depends on deliberate and coordinated action, stressing that the time for policy adoption and implementation is now.

Analysts say the push for a National Peace Policy could mark a turning point in Nigeria’s conflict management strategy, shifting the country from reactive security responses to a more structured, preventive, and sustainable peace framework.

Nigeria Accelerates Peace Reform Drive as Stakeholders Push for Adoption of National Peace Policy

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