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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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Police exhume seven bodies over Yelwata killings, as part of the Presidential Medical Delegation Investigation in Benue

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Police exhume seven bodies over Yelwata killings, as part of the Presidential Medical Delegation Investigation in Benue

By: Zagazola Makama

The Police in Benue have exhumed seven in connection with the 2025 Yelwata killings as part of ongoing investigations by the Presidential Medical Delegation as part of efforts to ensure justice for victims of what he described as a brutal assault.

Zagazola learnt that the exhumation was carried out on Feb. 24 by federal investigators led by the Intelligence Response Team (IRT) following an earlier situation report on the exercise.

According to the sources, the bodies were exhumed for inquest, adding that the exercise would continue at a later date.

“Seven corpses have been exhumed by the IRT-led federal investigators for inquest. The exercise will continue, and further development will be communicated,” police sources said.

Forensic pathologists from the Federal Ministry of Justice have arrived in Benue State to investigate the June 13, 2025, attack on Yelwata, a community in the Guma Local Government Area of the state.

The Presidential Medical Delegation on Monday visited Yelwata in Guma Local Government Area to inspect graves of victims of the June 2025 attack on the community.

Security sources said the delegation visited the burial site where victims of the attack were interred, and the graves were identified as part of ongoing investigative and medical review processes.

The deployment follows proceedings at the Federal High Court in Abuja, where nine suspects were arraigned on 2 February 2026 before Justice Joyce Abdulmalik in connection with the Yelwata attack.

The court stressed the importance of forensic evidence to ensure a fair trial and proper determination of culpability.

The sources added that adequate security measures were put in place to ensure a peaceful and hitch-free exercise.

The Guma Local government Yelwata attack of June 13, 2025, resulted in the deaths of several residents and forced many others to flee their homes.

Police exhume seven bodies over Yelwata killings, as part of the Presidential Medical Delegation Investigation in Benue

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Farmer Killed in Yobe Over Land Dispute, Pastoralists Injured

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Farmer Killed in Yobe Over Land Dispute, Pastoralists Injured

By: Zagazola Makama

A farmer, Moh’d Abdullahi, 50, of Garin Mallam Village, Karasuwa LGA, has been killed after being shot with arrows during an altercation with pastoralists on his farmland on Monday.

Sources said the suspects, identified as Usmanu Alh. Musa, Buba Alh. Manu, and Ahmadu Inusa, all from Tarja Fulani Settlement in Jakusko LGA, allegedly trespassed onto Abdullahi’s farmland. When the farmer cautioned them, the suspects attacked him, leaving him with fatal injuries.

In the ensuing retaliation, some villagers assaulted Ahmadu Inusa, who sustained injuries to various parts of his body. Both victims were rushed to Specialist Hospital Gashua in Bade LGA, where Abdullahi was certified dead, while Inusa received medical attention and remains hospitalized.

The body of Abdullahi was released to his family for burial according to Islamic rites. Investigations into the incident and the circumstances surrounding the dispute are ongoing.

Farmer Killed in Yobe Over Land Dispute, Pastoralists Injured

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Nigeria’s Support Against US Blockade Vital, Says Cuban Ambassador

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Nigeria’s Support Against US Blockade Vital, Says Cuban Ambassador

By: Michael Mike

The Cuban Ambassador to Nigeria, Miriam Morales Palmero, has commended Nigeria and the African Union for their consistent opposition to the decades-long United States economic blockade against Cuba, describing the sanctions regime as an “unjust system of coercion” that has inflicted prolonged hardship on the Cuban people.

Speaking at the Conference of the Solidarity Movement with Cuba in Nigeria, Palmero expressed gratitude for Nigeria’s repeated votes at the United Nations General Assembly in favour of resolutions calling for an end to the US embargo.

“Nigeria is one of the countries which has voted at the United Nations General Assembly in favour of the resolution against the economic, commercial and financial blockade,” she said. “We highly value Nigeria’s support.”

She also acknowledged what she described as the historic stance of the African Union, particularly its recent resolution condemning the US blockade policy and Cuba’s inclusion on the list of state sponsors of terrorism.

The ambassador characterised the US embargo as more than a bilateral dispute, calling it “a deliberate policy of asphyxiation” designed to force political surrender through economic deprivation.

“For more than six decades, Cuba has faced one of the most prolonged and unjust systems of economic, commercial and financial coercion in contemporary history,” she said.

Palmero criticised a recent executive order signed by US President Donald Trump which, she said, threatens sanctions against countries that supply fuel to Cuba. She described the move as extraterritorial and a violation of international law.

According to her, the measures are intended to worsen shortages in energy, nutrition, healthcare, education and transportation, while exerting pressure on other nations to limit cooperation with Cuba.

“We do not accept threats. We do not accept blackmail. We do not accept interference,” she declared.

Despite economic difficulties, the ambassador maintained that Cuba has consistently extended assistance to other nations, particularly in healthcare and education.

She highlighted Cuba’s long-standing medical diplomacy, noting that Cuban doctors, teachers and technical experts have served in dozens of countries, including Nigeria.

“Cuba represents no threat whatsoever to any country,” Palmero said. “Our foreign policy is one of solidarity, peace, friendship and cooperation, fully committed to international law and the United Nations Charter.”

She described it as “inconceivable” that the world’s largest economic and military power would consider Cuba a threat.

Beyond condemning the blockade, the ambassador used the conference to call for a stronger and more structured Solidarity Movement with Cuba in Nigeria.

She urged trade unions, academic institutions, youth groups, community organisations and media platforms to amplify advocacy efforts in support of Cuba, especially as sanctions intensify.

“This meeting is not only an expression of political and moral support,” she said. “It is a strategic moment to strengthen the structure of the Solidarity Movement with Cuba in Nigeria.”

Palmero encouraged participants to develop a coordinated action plan that would increase mobilisation, communication and public engagement throughout the year.

The ambassador reaffirmed Cuba’s commitment to sovereignty and its chosen social model, insisting that the country would not bow to external pressure.

“We know that the Cuban people are not alone,” she said. “Cuba will never renounce its independence.”

She declared that: “Because justice cannot be blockaded. Because dignity cannot be sentenced. Because solidarity is stronger than any coercive measure.”

The conference brought together members of Nigeria’s solidarity movement, trade union representatives, Cuban-trained graduates and supporters of Cuba–Nigeria relations, underscoring the longstanding diplomatic ties between both nations.

Nigeria’s Support Against US Blockade Vital, Says Cuban Ambassador

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