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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
Five Militants Killed in Attack Near Ayorou as Local Official Abducted in Niger Republic
Five Militants Killed in Attack Near Ayorou as Local Official Abducted in Niger Republic
By: Zagazola Makama
At least five local militia members were killed following an attack by suspected Islamic State-linked gunmen in Seno village near Ayorou in Niger Republic’s Tillabéri region.
Local sources said the attack occurred at about 6:00 p.m. on May 17, 2026, when armed militants stormed the village, located approximately six kilometres from Ayorou, and targeted traders and local security volunteers operating in the area.
According to preliminary reports, at least five members of local self-defence groups engaged in securing the community were killed during the assault.
The incident came hours after the reported abduction of a local official identified as Moussa Koukou, said to be the perimeter manager of Diomana.
Sources disclosed that Koukou was kidnapped at about 11:00 a.m. while travelling in a Toyota RAV4 vehicle within the area.
Security sources believe the attack and abduction may be linked to ongoing activities of extremist groups affiliated with the Islamic State operating across the volatile Tillabéri region near the borders with Mali and Burkina Faso.
No official statement had been issued by Nigerien authorities as of the time of filing this report, while monitoring and security operations were said to be ongoing in the affected communities.
Five Militants Killed in Attack Near Ayorou as Local Official Abducted in Niger Republic
News
Primaries: Aspirants protest imposition of Reps candidates in Adamawa
Primaries: Aspirants protest imposition of Reps candidates in Adamawa
The Forum of House of Representatives Aspirants of Numan /Demsa/Lamurde Federal Constituency under the platform of All Progressives Congress (APC) in Adamawa has protested what it described as imposition of candidates in the just concluded primary elections in the state.
Speaking during the peaceful protest in Numan Local Government Area, Adamawa, Vrati Nzonzo, the spokesperson of the Forum said, the committee responsible for the conduct of the exercise and the party officials failed to abide by the rules of the game.
Nzonzo said the rules for electing candidates were through consensus or direct primaries but stressed that none of the rules were observed.
According to him, with what happened, their mandate was stolen and given to someone who did not deserve the candidacy.
“The election was supposed to be Consensus or Direct primaries but we opposed the consensus and there were no direct primaries across the Constituency”, he said.
PNzonzo called on the National Chairman APC and Governor Ahmadu Fintiri to ensure justice and fairness for the victory of the party else they threatened that they won’t vote for the party at the general elections.
Justina Nkon another aspirant also condemned the conduct of the primary election across the constituency.
According to her, the electorate were at the venue of the primaries from 8:00a.m and no officials showed up until 2:00 p.m and later on they said they had conducted the election without seeing any election materials.
She urged Fintiri to live up to the promise he made at the time of his campaign that he would not betray the people in the state.
“It’s now under your watch as the leader of the party we are witnessing the undemocratic process of primary elections by enforcing candidates who have not been elected by the people in the Constituency”, she said.
According to her, the so-called primary elections are unconstitutional, hence the need to conduct a free, fair and credible primary elections.
Usoko ken-Supule, another aspirant, demanded justice and fairness for every aspirant and for the progress of the party in the constituency, state and the country at large.
“We want justice for the progress of the party and without fairness there is no progress, therefore we are respectful party loyalists.
“We are not happy in view of what happened and we are disappointed; we are calling on the party leadership and the state governor to consider the plight of the masses”, he said.
Primaries: Aspirants protest imposition of Reps candidates in Adamawa
News
Zulum Assures Immediate Relief Items, Dignified Resettlement of Displaced Persons in Monguno
Zulum Assures Immediate Relief Items, Dignified Resettlement of Displaced Persons in Monguno
By: Our Reporter
Borno State Governor, Professor Babagana Umara Zulum, has assured displaced communities affected by insecurity that the government is working closely with the Nigerian military hierarchy to provide immediate humanitarian and long-term support.
Governor Zulum gave the assurance when he visited displaced persons in Monguno town on Sunday, reaffirming his administration’s commitment to ensuring dignified resettlement back to their ancestral communities.

While at the IDP camp, the governor interacted directly with displaced families as women, children and elderly residents gathered around him while he listened to their concerns.
“We have examined the situation critically alongside the hierarchy of the Nigerian military, and it has been concluded that we shall provide immediate humanitarian support to these displaced communities, especially in the areas of water, shelter, and sanitation,” Zulum stated.

“Apart from this, we shall also ensure that medium and longer-term sustainable solutions are being adopted, which is acceptable to this community and their ancestral home,” he said.
“We will improve the living conditions of the displaced persons; we will not allow our citizens to endure such hardship without urgent government intervention.”
He also urged residents to cooperate with security agencies by reporting suspicious movements and activities within their communities, noting that sustaining peace and security requires collective responsibility.
“Security is everybody’s business. Communities must continue to support security agencies with timely and useful information,” the governor stated.

Governor Zulum disclosed that there are over 50,000 returnees in Marte, stressing that plans were underway to facilitate the return of more displaced persons to the town as part of the medium and longer-term solution.
He immediately directed the Secretary to the State Government, the Commissioner for Local Government, the Commissioner for Internal Security, and the Chairman of Marte Local Government Area to work out the modalities for implementing the recommendations adopted.
The governor sympathized with the people affected by the recent insecurity and reaffirmed the government’s commitment to supporting them.
As part of the visit, Governor Zulum also met with health workers at the Monguno Eye Hospital, commending them for continuing to provide medical services despite difficult working conditions and limited resources. He announced financial support to improve their welfare and encourage greater commitment to healthcare delivery in the area.
The governor also visited the Commanding Officer of Forward Operation Base (FOB) Mairari for a security brief.
Governor Zulum was accompanied by the Senator representing Borno North, Senator Mohanmed Tahir Monguno; Speaker of Borno State House of Assembly, Rt. Hon. Abdulkarim Lawan, Member Representing Marte, Monguno, Nganzai, Hon. Bukar Talba, Secretary to the state government, Bukar Tijani, Commissioner for Information and Internal Security, Prof. Usman Tar, Commissioner for Local Government and Emirate Affairs, Hon. Sugun Mai Mele, alongside other government officials.
Zulum Assures Immediate Relief Items, Dignified Resettlement of Displaced Persons in Monguno
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