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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
Zulum Calls for AI-Driven Security Reform at Kogi Summit, Urges Tackling of Root Causes of Insecurity
Zulum Calls for AI-Driven Security Reform at Kogi Summit, Urges Tackling of Root Causes of Insecurity
By: Michael Mike
Borno State Governor, Professor Babagana Zulum, has called for a fundamental overhaul of Nigeria’s security strategy, urging greater adoption of advanced technology and Artificial Intelligence (AI) to address escalating security challenges across the country.
Speaking at the Kogi Security Summit held in Abuja on Tuesday, Zulum warned that conventional security approaches are no longer sufficient to confront increasingly sophisticated criminal networks. He advocated the integration of modern surveillance systems, including drones, biometric tracking technologies, and predictive analytics to detect and prevent attacks before they occur.
“For us to address insecurity, we need to possess modern technological warfare. Technologies such as artificial intelligence and robotics are now being deployed globally to combat crime,” the governor said.
Beyond technological investment, Zulum emphasised the importance of citizen participation in security management, insisting that communities must take greater responsibility in intelligence sharing and local vigilance rather than relying solely on security agencies.
He further stressed that sustainable peace cannot be achieved without addressing the socio-economic drivers of insecurity. According to him, widespread poverty, unemployment, infrastructural decay, and environmental vulnerabilities continue to fuel recruitment into criminal groups.
“While it is critical to purchase equipment such as vehicles, MRAPs, drones and other facilities to confront insecurity, most importantly, without addressing underlying factors such as poverty, road infrastructure, agriculture, among others, insecurity will not end,” Zulum said, urging policymakers to channel part of security funding into development-focused interventions.
He added that “understanding the socio-economic and political dimensions of every crisis is very important. Increasing poverty, climate vulnerabilities, infrastructural deficit, illiteracy, among others, have to be addressed if we want security in our communities.”
Reiterating the link between peace, security, and development, the governor noted that no meaningful progress can be achieved in an atmosphere of instability.
“The security of lives and property is the cardinal objective of any administration. The nexus between peace and security cannot be overemphasised. It is only when there is security that there will be peace; and without peace, there will be no development,” he said.
Governor Zulum was accompanied at the summit by Hon. Engr. Bukar Talba, member representing Marte, Monguno and Nganzai Federal Constituency
Zulum Calls for AI-Driven Security Reform at Kogi Summit, Urges Tackling of Root Causes of Insecurity
News
Communal clash at illegal mining site leaves five injured in Zamfara
Communal clash at illegal mining site leaves five injured in Zamfara
By: Zagazola Makama
A violent clash between residents of Boko and Jaya villages in Zurmi Local Government Area of Zamfara state has left at least five persons injured following a dispute at a stone mining site.
Sources said the incident occurred on April 20 at about 11:00 a.m. at the Kwanza Stone Mining Site, located between the two communities.
According to the sources, the clash began when members of both villages engaged in illegal mining activities at the site, leading to a disagreement that escalated into violence, with both sides allegedly using firearms.
The sources said the injured victims include Sha’aibu Adamu, 30; Shakiru Suleiman, 26; Kasu Boko, 27; Abdullahi Dahiru, 25; and Ibrahim Usman, 25, all from the affected communities.
They added that the exact number of persons killed could not be immediately confirmed at the time of filing the report.
A joint security team comprising troops of Operation FANSAN YANMA. police personnel and community protection guards was swiftly deployed to the area to restore order.
The injured victims were evacuated to the General Hospital in Kaura Namoda for medical treatment.
Security authorities said normalcy had since been restored in the area, while efforts were ongoing to identify and arrest those involved in the violence.
They also confirmed that investigation into the incident had commenced.
Communal clash at illegal mining site leaves five injured in Zamfara
News
Security forces foil Kidnapping, flee after alarm in Gombe community
Security forces foil Kidnapping, flee after alarm in Gombe community
By: Zagazola Makama
Armed men suspected to be kidnappers have attempted to abduct residents in Unguwan Yamma, Amada area of Akko Local Government Area of Gombe state.
Sources said the incident occurred at about 3:20 a.m. when the attackers stormed the residence of one Alhaji Muhammad Abba, who narrowly escaped the attack.
According to the sources, the assailants proceeded to a neighbouring house where they abducted a child after the mother raised alarm.
The sources said the kidnappers, however, abandoned the child and fled the scene following the commotion.
A divisional patrol team, alongside hunters and local vigilantes, was immediately mobilised to the area and is currently on the trail of the suspects.
Police authorities said investigation was ongoing, while efforts had been intensified to apprehend the fleeing attackers and prevent further incidents in the area.
Security forces foil Kidnapping, flee after alarm in Gombe community
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