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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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Four police officers injured in patrol vehicle crash on Yelwata–Makurdi road

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Four police officers injured in patrol vehicle crash on Yelwata–Makurdi road

By: Zagazola Makama

Four personnel of the 18 Police Mobile Force (PMF) Squadron were injured on Friday when their patrol vehicle was involved in a lone accident along the Yelwata–Makurdi road in Benue State.

Zagazola gathered that the incident occurred at about 9:10 a.m. when the officers, on routine patrol of the axis, were travelling in an official Toyota Hilux driven by Cpl. Augustine Garba. The vehicle reportedly lost control and somersaulted into the bush.

Sources said that the DPO Yelwata mobilised tactical teams to the scene. The injured officers were evacuated and rushed to the Police Clinic in Makurdi for urgent medical attention,” the source said.

Three of the injured personnel were treated and discharged, while one officer remains hospitalised.

Police authorities confirmed that the remaining officer is in stable condition.

The sources said that the Benue Police Command has commenced internal review procedures to determine the cause of the crash and ensure adherence to patrol safety protocols.

Four police officers injured in patrol vehicle crash on Yelwata–Makurdi road

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Police arrest notorious bandit linked to killings of officers in Benue, Nasarawa

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Police arrest notorious bandit linked to killings of officers in Benue, Nasarawa

By: Zagazola Makama

Police operatives in Benue have arrested a suspected notorious armed bandit believed to be responsible for multiple attacks on security personnel in the state.

Zagazola gathered that the suspect, identified as Yongu Justine Makwagh of Kadarko in Nasarawa State, was arrested on Friday at about 8:00 p.m. at Balcony Park in Makurdi following months of sustained surveillance.

It was gathered that the Divisional Police Officer (DPO) of Daudu led the operation after acting on credible intelligence, with reinforcement from operatives of the Inspector-General of Police Intelligence Response Team (IRT) on special duty.

Sources said Makwagh has been on the command’s wanted list due to his alleged involvement in several deadly attacks in the Sankera axis.

“The suspect was earlier linked to the killing of two Safer Highway Police personnel at Yelwata and two operatives of the Department of Operations (DOPS) in Daudu, during which firearms were carted away,” the source said.

The arrest is considered a major breakthrough for the command, which has intensified efforts to dismantle bandit networks operating across Benue and neighbouring states.

Police authorities said the suspect is currently in custody and undergoing interrogation, while further investigations are ongoing to recover additional arms and track his accomplices.

Police arrest notorious bandit linked to killings of officers in Benue, Nasarawa

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“We are behind you,” Zulum addresses armed forces in Damboa

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“We are behind you,” Zulum addresses armed forces in Damboa

By: Our Reporter

Borno State Governor, Professor Babagana Umara Zulum, on Saturday, addressed troops of 25 Task Force Brigade of Nigerian Army, declaring the state’s and its people’s support for their relentless fight against Boko Haram/ISWAP insurgents.

The governor, speaking at a front-line military base in Damboa, sympathised deeply with the officers and soldiers, acknowledging the immense personal sacrifice and hard work they put in daily. He commended what he described as their “giant effort and supreme sacrifice” in the ongoing battle to secure Borno State and protect civilians from the threats of Boko Haram and Islamic State West Africa Province (ISWAP).

Zulum stated, “On behalf of the government and good people of Borno State. We are here in Damboa purposely to commiserate with you over the recent setback which claimed the lives of some of your colleagues.

It is an unfortunate event, and I want to extend my condolences to you and the families of all the officers and men of this brigade who lost their lives while discharging their duties. We pray to Almighty Allah to heal those injured in action as soon as possible.

For those of you who are still alive and healthy, we pray that God will protect you, give you the vision and strength to carry out your duties effectively. You have been doing very well. We have acknowledged your support and would like to commend you.

I want to once again sympathise with you on behalf of the government and good people of Borno State, and to assure you that we will do everything possible within the resources available to us to support your mission and vision to end the crisis.”

The governor was received by the Brigade Commander of 25 Task Force Brigade, Brigadier General Igwe Patrick Omokeh.

The visit was part of Zulum’s tour of communities in southern Borno. Earlier in the day, the governor met with grieving families in Chibok, where he commiserated with them over the loss of lives and property, offering condolences and immediate relief to those that
lost properties.

During the Chibok meeting, the governor announced concrete measures to protect lives and property. He noted that the state government, in collaboration with the federal government and security agencies, is implementing enhanced measures to protect vulnerable communities against future attacks.

“We are here to offer our condolences over what happened these past days in Chibok general area, especially to those who lost their lives. The situation is painful. We are here to show our sorrow over what happened.

Death comes at its appointed time. We offer you our condolences and assure you that, God willing, the issue of insecurity in Chibok will be resolved. We will provide a permanent solution and put an end to it.

We will take action. Please be patient. Our thoughts are with you, and one thing that made me happy is how you have remained calm and stayed in your communities despite everything,” Zulum said. The governor announced financial assistance of N1 million to the bereaved families and N500,000 to those whose properties were destroyed during the recent unfortunate attacks.

“We are behind you,” Zulum addresses armed forces in Damboa

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