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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
Security forces foil kidnapping attempt at Government Girls’ College in Bauchi
By: Zagazola Makama
Security forces have foiled an attempted kidnapping at Government Girls’ College in Bauchi, Bauchi State, in the early hours of Saturday, sources said.
The incident reportedly occurred at about 4:42 a.m. on March 15 when unidentified persons attempted to gain entry into the school premises through the fence near the staff quarters.
Security personnel on guard duty, supported by a patrol team, responded swiftly to the situation. On sighting the approaching officers, the suspected kidnappers abandoned their mission and fled the area.
The development caused brief panic within the school as students raised alarm and ran within the premises. However, no student was harmed or molested during the incident.
Police said the situation has been brought under control, while the school premises remain under close surveillance. Investigations are ongoing to identify and apprehend the suspects.
Security forces foil kidnapping attempt at Government Girls’ College in Bauchi
Man rescued by security forced after abduction in Fika, suspects flee
By: Zagazola Makama
A 35-year-old man, Haruna Abdul, was rescued unhurt after being abducted from his residence in Fali Village, Gashinge, Fika Local Government Area of Yobe State, security sources confirmed on Monday.
The incident, which occurred on March 14, involved unknown assailants armed with bows, arrows, and matches, who reportedly invaded Abdul’s home and forcibly abducted him.
During the attempted transport of the victim to an undisclosed location, police and vigilante groups promptly pursued the kidnappers to Gubana in Fune LGA, Yobe State.
The kidnappers reportedly abandoned Abdul along with a seized motorcycle, described as kasere red in color without registration number, before fleeing into the bush.
The victim has since been reunited with his family, while authorities continue efforts to apprehend the fleeing suspects for prosecution.
Man rescued by security forced after abduction in Fika, suspects flee
Stray bullet injures man in Tsafe following dispute involving military personnel
By: Zagazola Makama
A 38-year-old man sustained gunshot injuries in Tsafe Township, Tsafe Local Government Area of Zamfara State, after a misunderstanding involving a military personnel attached to Operation FANSAN YANMA.
Sources said the incident occurred at about 8:45 p.m. on March 14 in the Sahara area when the military personnel, who was in possession of a serviceable rifle, attempted to apprehend one of several youths from Sabon Fegi area.
According to sources , the youths resisted and overpowered the soldier, who reportedly fired his rifle to escape. A stray bullet hit a passerby, identified as Abdulrazak Abdullahi Kayode, in the stomach.
The injured man was initially taken to General Hospital Tsafe before being referred to Federal Medical Centre, Gusau, for further treatment.
Sources said the situation has been brought under control, and investigations into the incident are ongoing.
Residents have been urged to remain calm while authorities look into the circumstances surrounding the incident.
Stray bullet injures man in Tsafe following dispute involving military personnel
Security forces foil kidnapping attempt at Government Girls’ College in Bauchi
Man rescued by security forced after abduction in Fika, suspects flee
One killed as customs officers allegedly shoot driver in Osogbo
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