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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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Ogoni Leaders Petition Tinubu, Accuse Wike of Undermining Peace Dialogue

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Ogoni Leaders Petition Tinubu, Accuse Wike of Undermining Peace Dialogue

By: Michael Mike

Leaders and people of Ogoniland have petitioned President Bola Tinubu over alleged attempts by the Minister of the Federal Capital Territory (FCT), Nyesom Wike, to undermine the ongoing Federal Government–Ogoni dialogue process aimed at resolving the decades-long Ogoni crisis.

The petition was submitted under the auspices of the Conscience of Ogoni People (COOP), formerly known as the Ken Saro-Wiwa Associates, a group of concerned Ogoni stakeholders advocating peace, justice, and sustainable development in Ogoniland.

In a statement issued on Monday and signed by COOP’s Leader and Spokesman, Chief Gani Topba, the group expressed strong support for the dialogue and peace process being facilitated by the National Security Adviser (NSA), Mallam Nuhu Ribadu, describing it as the most credible effort so far to address the long-standing Ogoni question.

COOP alleged that Wike has been engaging in actions intended to frustrate the dialogue, tracing the dispute to unresolved issues from his tenure as Governor of Rivers State.

According to the group, the controversy is linked to a long-standing compensation dispute between the Ejama Ebubu community in Ogoni and the Shell Petroleum Development Company of Nigeria Limited (SPDC) over environmental damage claims that were decided in favour of the community.

The group stated that the Rivers State Government became deeply involved in the matter during Wike’s administration, a development that has remained contentious and unresolved in public discourse.

COOP further alleged that during the recent visit of the NSA to Ogoniland, political associates of the FCT Minister were instructed to boycott and undermine the engagement. The group claimed that efforts were deliberately made to sabotage the dialogue at the community level.

Raising security concerns, COOP alleged that armed youths recruited from different parts of Rivers State are currently being mobilised and camped around the Rivers State House of Assembly quarters, allegedly to destabilise the peace process.

The group also claimed that Wike is displeased with Rivers State Governor, Sir Siminalaiyi Fubara, for cooperating with the NSA to ensure the success of the Ogoni dialogue. According to COOP, local government chairmen in Eleme, Tai, Gokana and Khana LGAs were allegedly directed to recruit armed youths to disrupt the dialogue and frustrate the proposed resumption of oil operations in Ogoniland.

COOP warned that if these alleged actions are not checked, they could pose serious threats to public peace and security in Rivers State and derail the fragile but promising dialogue process.

The group noted that the ongoing engagement has been widely welcomed by Ogoni people as a sincere and inclusive initiative aimed at achieving lasting peace, environmental remediation, economic reintegration of Ogoni communities, and the safe resumption of oil production in Oil Mining Lease (OML) II. They added that a successful outcome would significantly boost national revenue, foreign exchange earnings, energy security and employment.

COOP appealed to President Tinubu to intervene by calling on the FCT Minister to desist from actions capable of reigniting tension in Ogoniland. The group urged the President to protect the dialogue process and mandate relevant security and intelligence agencies to investigate the allegations.

They call on the President to ensure that no individual, regardless of position, undermines national interest for personal or sectional gain, expressing confidence that decisive intervention would help secure peace in Ogoniland and reaffirm the Federal Government’s commitment to justice, national unity and economic recovery.

Ogoni Leaders Petition Tinubu, Accuse Wike of Undermining Peace Dialogue

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Gamawa commended Gov. Bala for the creation of additional emirates in Bauchi

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Gamawa commended Gov. Bala for the creation of additional emirates in Bauchi

By: Yahaya Wakili

His Royal Highness, the Emir of Gamawa in Bauchi State, Alhaji Adamu Abdulkadir Adamu, has commended His Excellency, the Executive Governor of Bauchi State, Senator Bala Abdulkadir Mohammad A Kauran Daular Ussumaniyya, for the creation of additional emirates, chiefdoms, and districts statewide.

The emir made the commendation in an interview with Newsng in Sabon Garin Nangere, the headquarters of the Tikau emirate council of Yobe state, when he visited His Royal Highness, the Emir of Tikau, Alhaji Abubakar Muhammadu Ibn Grema II.

He said the strategic move by His Excellency, the Executive Governor of Bauchi State, Senator Bala Abdulkadir Mohammad, brings essential development projects, empowers local aspirations, and ensures inclusive growth reaches every corner of the grassroots.

The emir revealed that he was at the Tikau emirate council today to express his profound appreciation to the emir of Tikau, Alhaji Abubakar Muhammadu Ibn Grema II, for his support given to us since we were appointed as the emir of Gamawa, adding that Tikau and Gamawa have had a strong relationship for a long time.

He said, “Tikau and Gamawa share a common border, and also we are neighbors, and we have the history of the Tikau emirate for fostering unity, justice, and loving his people, as well as involving all stakeholders, and steadfastly upholding law and order in his domain.”

“Therefore, we are soliciting the support, advice, and cooperation of the emir and also strengthening our relationship to govern the people of the Gamawa emirate council fairly without bias or selfish interest, and we thank the emir for the hospitality rendered to him and members of his emirate council.

Gamawa commended Gov. Bala for the creation of additional emirates in Bauchi

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Police sergeant arrested for supplying arms used in Nasarawa robbery

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Police sergeant arrested for supplying arms used in Nasarawa robbery

By: Zagazola Makama

A serving police sergeant has been arrested for allegedly supplying an AK-47 rifle used in an armed robbery attack in Doma Local Government Area of Nasarawa State.

Zagazola reliably informed by sources that the development followed the arrest of a robbery suspect, Justine Gbata, 30, of Doka Village, who was apprehended after gunmen attacked one Muhammad Danka of Ankoma Village and dispossessed him of his red Bajaj motorcycle.

The incident occurred at about 1:00 p.m. on Jan. 24, when the assailants, armed with an AK-47 rifle, fired several shots during the operation before fleeing into a nearby forest with the motorcycle.

“After the report, a combined team of police operatives, vigilantes and hunters pursued the attackers into the forest and arrested one suspect. Seven empty AK-47 shells were recovered at the scene,” the sources said.

They added that the suspect, who sustained injuries during the chase, was taken to General Hospital, Doma, for treatment.

“During interrogation, the suspect confessed that the rifle used for the robbery was supplied by a serving police sergeant attached to Daudu Division in Benue State,” the sources said.

The sergeant has since been identified and detained at the State Criminal Investigation Department (SCID) in Benue for further investigation.

Police authorities said efforts were ongoing to arrest the remaining members of the gang and recover the stolen motorcycle, while investigations into the case continue.

Police sergeant arrested for supplying arms used in Nasarawa robbery

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