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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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Troops engage armed bandits in heavy gun battle during raid on suspected hideout in Zamfara

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Troops engage armed bandits in heavy gun battle during raid on suspected hideout in Zamfara

By: Zagazola Makama

Troops of Operation FANSAN YANMA have reportedly engaged armed bandits in a heavy gun battle during a clearance operation at Yankuzo area in Tsafe Local Government Area of Zamfara state.

Security sources said the operation followed aggressive fighting patrol on armed groups into the area, believed to be a stronghold used by suspected bandit elements operating within the axis.

According to the sources, troops advanced into deep into the terrorists enclave of Ado Allero in the early hours of the day and made contact with the armed men, leading to an exchange of fire that lasted for several minutes.

Residents reported heavy gunfire during the confrontation.

Although details of casualties were still being assessed at the time of filing this report, security sources confirmed that troops maintained dominance of the general area and continued pursuit of fleeing armed elements.

Troops engage armed bandits in heavy gun battle during raid on suspected hideout in Zamfara

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Troops rescue three kidnapped victims during operation in Niger State

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Troops rescue three kidnapped victims during operation in Niger State

By: Zagazola Makama

Troops of Operation FANSAN YAMMA have rescued three kidnapped victims during a swift response to a distress call in Kusheri village area of Niger state.

Security sources told Zagazola Makama that the incident occurred on April 21, 2026, when armed bandits invaded the community and abducted three civilians identified as Abdullahi, Saidu Julfe and Kamilu Joddi.

According to the sources, troops deployed at Forward Operating Base Dokan Karji immediately mobilised after receiving the distress alert and advanced towards the area of operation.

On arrival, the troops discovered that the attackers had already fled the scene with the abducted victims towards the Kafin Gora axis.

The troops subsequently launched a pursuit operation, engaging the fleeing suspects in intermittent contact before successfully rescuing all three hostages unharmed.

The rescued victims were later handed over for medical evaluation and debriefing, while troops withdrew to base after securing the general area.

Security sources confirmed that the situation within the area of responsibility remains calm but unpredictable, adding that patrols and surveillance operations have been intensified to prevent further incidents.

They further noted that troop morale and combat effectiveness remain high as operations continue across vulnerable communities within the state.

Troops rescue three kidnapped victims during operation in Niger State

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Troops kill suspected Boko Haram fighter in Yobe, recover rifle, motorcycles

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Troops kill suspected Boko Haram fighter in Yobe, recover rifle, motorcycles

By: Zagazola Makama

Troops of Operation Hadin Kai have killed a suspected Boko Haram insurgent during a confrontation in Lotori-Garbiya village, Tarmuwa Local Government Area of Yobe state.

Sources said the incident occurred on April 20 at about 7:00 p.m. after gunmen suspected to be Boko Haram elements stormed the community and imposed illegal levies on residents.

According to the sources, security forces were swiftly mobilised following a distress call and engaged the attackers in a gun battle.

One of the suspected insurgents was killed during the encounter, while others reportedly fled into surrounding bushes.

The sources said an AK-47 rifle and two Kasea motorcycles were recovered at the scene.

Security authorities confirmed that the area had been placed under close surveillance, while patrols were intensified to prevent further attacks.

They added that efforts were ongoing to track down fleeing members of the group.

Troops kill suspected Boko Haram fighter in Yobe, recover rifle, motorcycles

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