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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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NEDC Deploys ₦3bn Ophthalmic Equipment, Begins Training at Maiduguri Eye Hospital

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NEDC Deploys ₦3bn Ophthalmic Equipment, Begins Training at Maiduguri Eye Hospital

By: Michael Mike

The North East Development Commission (NEDC) has commenced a two-week Ophthalmology Equipment Set-Up and Training Programme at the Maiduguri Eye Hospital in Borno State, following the deployment of advanced eye-care equipment valued at over N3 billion.

The programme, which began on Monday, marks a major step in the Commission’s efforts to improve specialist healthcare delivery and address preventable blindness across the North-East region.

Activities on the first day included the installation, calibration, and coupling of cutting-edge ophthalmic equipment, alongside the start of hands-on technical and clinical training sessions. The exercise is aimed at ensuring the newly supplied equipment is fully operational and optimally configured for effective eye-care services.

The training is being led by Prof. Abdull Mohammed Mahdi, a Chief Consultant in Ophthalmology, with support from Dr. Abuh Sunday, also a Chief Consultant, and a multidisciplinary team of experts in ophthalmology and biomedical engineering.

Participants include consultant ophthalmologists, resident doctors, ophthalmic nurses, optometrists, and biomedical engineers from the Maiduguri Eye Hospital and the University of Maiduguri Teaching Hospital (UMTH). They will receive intensive practical training on the operation, maintenance, and efficient use of the equipment.

According to the NEDC, the initiative is expected to significantly enhance the hospital’s diagnostic and surgical capacity, particularly in the management of cataract and glaucoma cases. The Commission noted that the intervention aligns with its long-term objective of transforming Maiduguri Eye Hospital into a regional centre of excellence for ophthalmic care.

In addition to the equipment deployment and training, the Commission is undertaking extensive renovation and infrastructure upgrades at the hospital to support modern clinical operations and improve patient experience.

The NEDC is also extending similar ophthalmic interventions across other states in the North-East. Of note is the ongoing construction of an ultra-modern Eye Institute at the Abubakar Tafawa Balewa University Teaching Hospital (ATBUTH) in Bauchi, which commenced last year and is scheduled for accelerated implementation this year.

Officials of the Commission described the intervention as a strategic investment that combines modern medical infrastructure with deliberate human capacity development, noting that the ₦3 billion equipment deployment and training programme will have a lasting impact on access to quality eye-care services in the region.

NEDC Deploys ₦3bn Ophthalmic Equipment, Begins Training at Maiduguri Eye Hospital

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NSCDC personnel, 16 others arrested in raid of criminal hideout in Yobe

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NSCDC personnel, 16 others arrested in raid of criminal hideout in Yobe

By: Zagazola Makama

Security operatives in Yobe State have raided a notorious criminal hideout in the Saman Tudu area of Pompomari District, Damaturu, arresting a personnel of the Nigeria Security and Civil Defence Corps (NSCDC) and 16 other suspects.

A reliable source told Zagazola Makama that the raid was carried out on Jan. 18 at about 7:20 p.m. following a coordinated, intelligence-driven operation targeting criminal elements who use the area as a haven.

The source said the enclave served as a convergence point for trafficking and consumption of illicit drugs, as well as planning and execution of various criminal activities within the community.

“During the operation, the team stormed and ransacked the hideout, leading to the arrest of 17 suspects, including one Mohammed B. Kolo, identified as an NSCDC personnel attached to the Yobe State Command,” the source said.

He added that exhibits recovered from the scene included a knife, five bicycles, dried leaves suspected to be cannabis sativa, hemp wrapping papers, a long sack used as a mat and the sum of N8,500 found inside a sack suspected to contain the drugs.

The suspects are currently in custody while investigation is ongoing to determine their level of involvement in criminal activities.

The source said those found culpable would be charged to court for prosecution after the conclusion of investigations.

Residents were urged to continue supporting security agencies with timely and credible information to sustain the fight against crime in the state.

NSCDC personnel, 16 others arrested in raid of criminal hideout in Yobe

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Chadian security forces recover cache of arms, arrest suspects in N’Djamena

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Chadian security forces recover cache of arms, arrest suspects in N’Djamena

By: Zagazola Makama

Chadian security forces on Sunday recovered a large cache of weapons and ammunition during a joint search operation in parts of the capital, N’Djamena, as part of intensified efforts to combat insecurity.

Sources Zagazola Makama that the operation was carried out in the 10th arrondissement and parts of the 2nd arrondissement of the city.

According to the sources, the joint team of internal security forces seized 28 pistols, 14 other firearms, and more than 1,000 rounds of assorted ammunition during the raid.

They also recovered military equipment and six vehicles suspected to be linked to criminal activities.

“Two gun owners were arrested during the operation and are currently in custody for further investigation,” a senior security official said.

He explained that the exercise was conducted under the supervision of top security authorities and formed part of broader measures to dismantle criminal networks and curb the proliferation of illegal arms in the capital.

The official added that the recovery of the weapons had significantly disrupted the operations of armed groups and criminal elements in the affected districts.

He reaffirmed the commitment of the Chadian security services to sustaining pressure on all groups involved in arms trafficking, banditry and other threats to public safety.

“The security forces will continue intelligence-led operations to ensure the safety of lives and property across the country,” he said.

Chadian security forces recover cache of arms, arrest suspects in N’Djamena

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