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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
Boko Haram Terrorists Ambush Vigilantes in Borno, One Killed
By: Zagazola Makama
Suspected Boko Haram terrorists have ambushed members of a vigilante group on routine patrol along the Warave–Gwoza Road in Gwoza Local Government Area of Borno State, killing one member.
Sources said the attack occurred at about 7:30 a.m. on Tuesday when the gunmen opened fire on members of the Civilian Joint Task Force (CJTF) and local hunters conducting patrol in the area.
A member of the CJTF in Warave, Bello Adamu, 50, sustained fatal injuries during the ambush. He was evacuated to the General Hospital in Gwoza, where he was certified dead on arrival. His remains were later released to his family for burial in accordance with Islamic rites.
Troops of Operation HADIN KAI were deployed to the scene following the incident, while monitoring and patrols have been intensified along the axis to prevent further attacks.
Boko Haram Terrorists Ambush Vigilantes in Borno, One Killed
Troops Neutralise Four Terrorists in Offensive Operation in Borno
By: Zagazola Makama
Troops of Sector 1, Operation HADIN KAI in conjunction with members of the Civilian Joint Task Force (CJTF), have neutralised Four suspected Boko Haram terrorists during an offensive operation in Shehuri area of Konduga Local Government Area of Borno State.
Sources told Zagazola that the operation, conducted at about 9:15 a.m. on Feb. 25 under Operation Desert Sanity IV, led to the interception and engagement of the terrorists.
Following the encounter, troops carried out exploitation of the area, during which four insurgents were neutralised.
Items recovered from the scene included AKSM automatic rifle and pump-action rifle with cartridges and magazines.
Sources added that troops’ morale and fighting efficiency remain high as clearance operations continue across parts of the state.
Troops Neutralise Four Terrorists in Offensive Operation in Borno
Lakurawa Terrorists on revenge Mission Kill Four Worshippers in Kebbi Mosque, Five Injured
By: Zagazola Makama
Suspected Lakurawa terrorists on a revenge mission have attacked Dadinkowa village in Maiyama Local Government Area of Kebbi State, killing four worshippers and injuring five others after storming a mosque.
Sources said the attackers invaded the community and opened fire on worshippers, leaving four persons dead and five others with varying degrees of injuries. The injured victims were rushed to a medical facility for treatment.
The latest attack is believed to be a reprisal following a failed ambush on the convoy of the General Officer Commanding (GOC) 8 Division, Maj.-Gen. Bemgha Koughna, during an operational tour in the state.
On Wednesday, troops of Operation Fansan Yamma reportedly foiled the ambush near Mayama Hill, neutralising five suspected terrorists. Weapons and other items recovered during the operation included one OJC gun, one PKT gun, two AK-47 rifles, four AK-47 magazines, a bandolier of PKT ammunition, several rounds of 12.7mm ammunition, a camel bag containing N840,000, two mobile phones and five motorcycles.
Security sources said the terrorists were suspected to have launched the mosque attack in retaliation for the heavy losses recorded during the failed ambush.
Operation FANSAN YANMA have assured that efforts were ongoing to track down those responsible for the latest assault.
Lakurawa Terrorists on revenge Mission Kill Four Worshippers in Kebbi Mosque, Five Injured
Boko Haram Terrorists Ambush Vigilantes in Borno, One Killed
Troops Neutralise Four Terrorists in Offensive Operation in Borno
Lakurawa Terrorists on revenge Mission Kill Four Worshippers in Kebbi Mosque, Five Injured
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