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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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VP Shettima To Insurgents: We Will Not Be Cowed By Attempts To Undermine Our Collective Peace

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VP Shettima To Insurgents: We Will Not Be Cowed By Attempts To Undermine Our Collective Peace

By: Our Reporter

Following President Bola Ahmed Tinubu’s reaching out to the government and people of Borno State regarding the latest insurgency attack in the State, Vice President Kashim Shettima has assured that the administration of President Bola Ahmed Tinubu will not be cowed by despicable acts of cowardice and a doomed attempt to undermine the collective peace of the nation.

Deploring the attacks, including the abductions in Ngoshe and the coordinated assaults on military formations in Konduga, Marte, Jakana, and Mainok, the Vice President reaffirmed that the administration remains resolute in its duty to protect the lives and properties of all Nigerians.

In a statement on Saturday, Senator Shettima emphasised that the Federal Government is already deploying additional tactical assets and intelligence-driven reinforcements to the affected areas.

“The events of the past few days are a painful reminder of the shadow that persists, but let it be known: we choose light over shadow, and hope over despair. Our difference as a nation is the distance between the ruin of anarchy and the promise of order.

“President Bola Ahmed Tinubu has been briefed and has already directed a swift and total mobilisation of our security architecture. The Federal Government will not tolerate any sanctuary for those who seek to displace our people or occupy an inch of Nigerian soil,” he said.

The Vice President assured that the perpetrators of these beastly crimes would face the full wrath of the law.

He continued: “We are not just fighting a war. We are defending the very soul of our humanity against those who preach a toxic rhetoric of hate, and we will not be cowed by their gory acts.

“Our hearts bleed for the families in and the brave soldiers who paid the supreme price in the line of duty. This administration will not rest until abducted citizens safely reunite with their families.”

VP Shettima commended the resilience of the people and government of Borno State under Governor Babagana Zulum and praised the gallantry of the troops on the frontlines.

“We remain one nation, tied to a common destiny. The sanctity of human life is non-negotiable. This madness will be brought to an end, not with empty words, but with the decisive and overwhelming force of the Nigerian State,” he further assured.

VP Shettima To Insurgents: We Will Not Be Cowed By Attempts To Undermine Our Collective Peace

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Two miners killed, five injured in clash at Zamfara mining site

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Two miners killed, five injured in clash at Zamfara mining site

By: Zagazola Makama

Two miners have been killed and five others injured following a clash at a mining site in Abare area of Bukkuyum Local Government Area of Zamfara.

Police sources said the incident occurred on March 5 at about 8:30 a.m. at a mining site in the community.

The sources said the crisis was triggered when a member of an outlawed vigilance group, locally known as Yan Sakai, allegedly stormed the site and attempted to enforce observance of the ongoing Ramadan fast among Muslim miners.

According to the sources, the suspect, identified simply as Kaura, allegedly arrested some of the miners, accusing them of refusing to observe the fasting period.

He was also said to have imposed compulsory levies on those arrested.

The action was reportedly resisted by some miners who objected to the arrest and the alleged illegal levies.

The suspect was said to have retreated from the site following the resistance but later returned with other members of the outlawed group and attempted to effect further arrests.

This led to a confrontation between the two groups, resulting in panic and tension across the mining site.

During the clash, two miners were killed while five others sustained injuries.

Security forces were immediately deployed to the scene after receiving the report.

The injured victims were taken for medical treatment, while investigations have commenced to identify and apprehend those responsible.

No arrest had been made as of the time of filing the report.

Two miners killed, five injured in clash at Zamfara mining site

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Army troops neutralise 45 bandits in Katsina, including top bandit leader Kachallah Alti

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Army troops neutralise 45 bandits in Katsina, including top bandit leader Kachallah Alti

By: Zagazola Makama

Troops of the Nigerian Army have neutralised 45 suspected bandits during a fierce encounter in Danmusa Local Government Area of Katsina State.

Security sources said the operation followed credible intelligence on the movement of bandits suspected to be operating across parts of Katsina and neighbouring Zamfara.

Among those killed during the operation were two top bandit leaders identified as Alti, said to be a nephew and second-in-command to notorious bandit kingpin Adamu Alieru, and another commander known as Damale.

The sources said the confrontation occurred after bandits riding on motorcycles and armed with sophisticated weapons attacked Alhazawa village in Musawa Local Government Area on March 5, rustling cattle from residents.

Community members and some repentant bandits in the area reportedly resisted the attack, killing four of the bandits and recovering the stolen cattle, which were returned to their owners.

However, the bandits were said to have regrouped and returned in larger numbers on March 6, allegedly to launch a reprisal attack.

While moving toward Musawa through Maidabino A Ward, the bandits encountered troops deployed at the Forward Operating Base (FOB) in Dan Ali, Danmusa LGA.

This led to a fierce gun battle during which troops overpowered the criminals and neutralised 45 of them.

However, the operation recorded casualties on the side of the military as three soldiers were killed during the encounter.

Further checks indicated that Alti had recently assumed a more active operational role within the bandit network after the death of his brother, Kachalla Dan Isihu, who was previously killed by security forces during counter-banditry operations.

Alti was said to have coordinated several violent attacks across communities, particularly along the Danjibga axis in Tsafe Local Government Area of Zamfara.

Security sources said troops had intensified operations in the area to track down other fleeing bandits and dismantle their networks.

Army troops neutralise 45 bandits in Katsina, including top bandit leader Kachallah Alti

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