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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 Foil ISWAP Attack Attempt in Guzamala

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Troops Foil ISWAP Attack Attempt in Guzamala

By: Zagazola Makama

Troops of Sector 3 Area of Responsibility have foiled an attempted attack by suspected ISWAP/JAS terrorists on Forward Operating Base (FOB) Mairari in Guzamala Local Government Area of Borno State.

Sources said the incident occurred at about 1329hrs on April 19, when the terrorists attempted to infiltrate the base through Charlie/Delta Company axis.

The attackers, operating with two gun trucks, were sighted advancing toward the entrance gate of Mairari town along the Gajiram axis.

Troops immediately engaged the advancing terrorists, forcing them to abandon their mission and retreat.

Following the encounter, troops dominated the general area with patrols, while air support was also deployed and hovered over the vicinity. However, no further terrorist presence was observed after the exchange.

Security sources said exploitation and clearance operations are ongoing to prevent regrouping and to secure surrounding communities.

Troops Foil ISWAP Attack Attempt in Guzamala

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Troops Arrest Suspected Terror Logistics Couriers in Kogi State

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Troops Arrest Suspected Terror Logistics Couriers in Kogi State

By: Zagazola Makama

Troops under Operation MESA have arrested two suspected terrorist logistics couriers along the Obajana–Kabba road in Lokoja Local Government Area of Kogi State.

Sources said the operation was conducted at about 0010hrs on April 20, following credible intelligence report on the movement of suspected terrorist logistics couriers.

Troops of 12 Brigade mounted a snap checkpoint at RA Oshokoshoko and intercepted a vehicle conveying the suspects en route Obajana from Makurdi.

A search of the vehicle led to the recovery of a sack containing 314 rounds of 7.62mm special ammunition and three AK-47 magazines, concealed behind the driver’s seat.

Other items recovered include two mobile phones, a driver’s licence, a National Identification Number (NIN) slip, and an identity card.

The suspects and recovered items are currently in military custody for further investigation and action.

Troops Arrest Suspected Terror Logistics Couriers in Kogi State

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Stolen cows allegedly rustled by Berom militia from Plateau, sold by paramount ruler traced to Nasarawa

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Stolen cows allegedly rustled by Berom militia from Plateau, sold by paramount ruler traced to Nasarawa

By: Zagazola Makama

Security operatives in Nasarawa State have intercepted stolen livestock allegedly rustled by Berom militia from Bokkos in Plateau State and sold through illicit channels, leading to the arrest of a suspect who claimed to have purchased the animals from a paramount ruler.

Police sources said the breakthrough followed credible intelligence received by the State Criminal Investigation Department (SCID) in Lafia on April 19 regarding suspicious cattle being traded at the Lafia cattle market.

Acting on the tip-off, detectives swiftly mobilised to the market and arrested one Alhaji Ziya-U Inusa, a resident of Dengi in Plateau State, who was found in possession of eleven cows suspected to have been stolen.

During interrogation, the suspect reportedly confessed that he purchased twelve cows from a paramount ruler in Plateau State (name withheld) but transported only eleven due to limited vehicle capacity.

Further investigation led to the emergence of one Abdullahi Adamu from Bokkos Local Government Area of Plateau State, who identified himself as the rightful owner of the recovered livestock.

Adamu explained that the cows were part of a larger herd of 57 cattle rustled in May 2025 by armed youths in Bokkos, adding that all previous efforts to recover the animals had been unsuccessful until the latest operation.

Security sources confirmed that the recovered cattle have been secured, while investigations are ongoing to unravel the network involved in the rustling and illicit sale of the livestock, including the alleged role of intermediaries and buyers.

The incident adds to a growing pattern of attacks against the livelihoods of pastoralist communities in Barkin Ladi, Bokkos, Mangu, and other parts of Plateau State.

Zagazola has consistently reported how Berom militia have engaged in livestock theft. In most cases, the victims (Fulani herders) are killed and buried in shallow graves, while in some instances, troops or police intercept the criminals and recover the stolen livestock.

The latest such incident occurred on April 16, when troops under Operation Enduring Peace responded to a rustling incident in Mangu Local Government Area, where suspected criminals fled before security forces arrived.

Similarly, on April 15, troops under Operation Enduring Peace (OPEP) recovered 48 rustled cattle in Yelwa village, Heipang District of Barkin Ladi Local Government Area of Plateau State. Sources said the recovery followed a distress call received at about 0635 hours reporting the rustling of cattle belonging to a resident of the community.

In another operation on April 13, troops foiled an attempted cattle rustling in Bassa Local Government Area, recovering 92 cattle after pursuing suspected youths who abandoned the animals while fleeing.

Zagazola reports that such incidents are among the main triggers of the cycle of reprisal attacks, further escalating tensions in affected communities.

Stolen cows allegedly rustled by Berom militia from Plateau, sold by paramount ruler traced to Nasarawa

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