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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
News
Obasanjo Unveils Bold Blueprint for Africa’s Security Overhaul, Warns Against New Scramble
Obasanjo Unveils Bold Blueprint for Africa’s Security Overhaul, Warns Against New Scramble
By: Michael Mike
Former Nigerian President Olusegun Obasanjo has issued a sweeping and urgent call for a radical overhaul of Africa’s security architecture, warning that the continent risks deeper instability and renewed external domination unless it urgently redefines its approach to security, governance, and intelligence.
Speaking at the third Mashariki Cooperation Conference III (MCC III), Obasanjo challenged Africa’s intelligence chiefs and security leaders to abandon outdated frameworks and embrace a people-focused, technologically independent, and accountable system capable of confronting modern threats.
Delivering a hard-hitting address on “Emerging Geopolitical Dynamics and Africa’s Security Architecture,” the elder statesman argued that Africa’s persistent conflicts are not accidental but stem from “specific, identifiable failures of leadership,” compounded by what he described as intensifying external manipulation.
“We are witnessing the fracturing of the post-1945 multilateral order,” Obasanjo said, pointing to the global fallout from the Russian invasion of Ukraine and contrasting international responses to crises in regions such as Gaza and the Sahel. According to him, these inconsistencies expose a global system that applies its rules selectively—often at Africa’s expense.
A Continent Under Pressure
Obasanjo painted a stark picture of a continent caught in a renewed geopolitical contest, warning of a “new scramble for Africa.” He cited expanding foreign influence through initiatives like China’s Belt and Road Initiative, the growing footprint of Russian-linked security actors across the Sahel and the Horn of Africa, and the vacuum left by the withdrawal of Western forces from key conflict zones.
These developments, he said, have coincided with a surge in terrorism, violent extremism, and an alarming wave of military takeovers across the continent since 2020—what he described as a “coup epidemic.”
Five Pillars for a New Security Order
In response, Obasanjo outlined five concrete propositions aimed at reshaping Africa’s security framework:
• Human-centred security: Prioritising the safety and welfare of citizens over elite interests.
• Continental solidarity: Strengthening joint mechanisms such as the African Standby Force and early warning systems.
• Disrupting illicit financing: Empowering intelligence agencies to tackle financial flows that sustain insecurity.
• Technological sovereignty: Building African capacity in artificial intelligence, cyber defence, and drone warfare.
• Accountable governance: Establishing transparent leadership as the foundation of lasting security.
He stressed that without credible governance, no military or intelligence strategy can succeed.
Intelligence at the Core
Central to Obasanjo’s message was a forceful critique of Africa’s use of intelligence. He described intelligence as “indispensable to conflict prevention” but “woefully underused,” citing missed warning signs in past crises across Liberia, Sierra Leone, Burundi, the Democratic Republic of Congo, and Sudan.
He urged the creation of a truly integrated continental intelligence network, beginning with stronger regional cooperation, and insisted that effectiveness must be anchored in professionalism and civilian oversight.
“Intelligence services that operate with integrity… and are subordinate to civilian authority are not weaker—they are stronger,” he declared.
Leadership Under Scrutiny
In a rare moment of reflection, Obasanjo drew from his own involvement in major African peace efforts, including Nigeria-led interventions under ECOMOG in Liberia and Sierra Leone, and mediation roles in Burundi and Zimbabwe. He argued that successful conflict resolution has always depended on “accurate intelligence, courageous honesty, and selfless leadership.”
He also introduced his “Obasanjo 55+20 Leadership Framework,” a structured model outlining 55 measurable leadership attributes and 20 core values. At its heart, he said, lies “courageous honesty”—the willingness of leaders to confront uncomfortable truths.
A Final Warning
Addressing an audience that included Noordin Mohamed Haji and intelligence heads from across Africa, Obasanjo closed with a stark warning and a challenge.
At nearly 90, he said his decades of experience have shown both Africa’s promise and its recurring failures.
“Africa’s conflicts are not inevitable,” he said. “They are the product of leadership choices. What is required now is the will—and the courage and audacity—to choose differently.”
His message was unmistakable: without decisive reforms, Africa risks remaining a battleground for external powers; with them, it has a chance to secure its future on its own terms.
Obasanjo Unveils Bold Blueprint for Africa’s Security Overhaul, Warns Against New Scramble
News
Nigeria Woos Diaspora Investors in Silicon Valley, Says “Ready for Business”
Nigeria Woos Diaspora Investors in Silicon Valley, Says “Ready for Business”
By: Michael Mike
Nigeria has intensified its push to attract diaspora-driven investments, with the Chairman/CEO of the Nigerians in Diaspora Commission (NIDCOM), Abike Dabiri-Erewa, declaring that the country is fully open and prepared for business.
Speaking in Silicon Valley, California, at a high-level pre-event dinner ahead of the African Diaspora Investment Symposium 2026 (ADIS26), Dabiri-Erewa assured global investors—particularly Nigerians in the diaspora—that Nigeria offers vast and untapped investment opportunities across sectors.
The event, hosted at Santa Clara University, brought together top African and global stakeholders under the theme: “Bridging Africa & Silicon Valley: Shaping the Future of Innovation, Investment, and Inclusive Growth.”
Dabiri-Erewa said Nigeria is deliberately positioning its diaspora as a strategic economic force, leveraging their expertise, capital, and global networks to accelerate national development.
She highlighted ongoing reforms and investment-friendly policies under the administration of Bola Ahmed Tinubu, noting that the government is creating an enabling environment for diaspora participation in critical sectors, including technology, infrastructure, and entrepreneurship.
According to her, the focus is shifting from remittances to structured, long-term investments capable of driving sustainable economic growth and innovation.
“The Nigerian diaspora remains one of our strongest assets,” she said, stressing that deeper engagement would unlock transformative opportunities for both the country and its global citizens.
The NIDCOM boss also commended Almaz Negash, founder of the African Diaspora Network, for convening the platform and fostering cross-continental partnerships.
Beyond the dinner, Dabiri-Erewa held a working session with Nigerian professionals in the United States, many of whom expressed readiness to collaborate with NIDCOM on initiatives aimed at national development.
The engagements attracted a diverse mix of African and American leaders, innovators, investors, and policymakers, reinforcing a growing consensus on the need to build stronger bridges between Africa and the global technology ecosystem.
The gathering underscored a shared commitment to moving beyond traditional remittance flows toward impactful investments that can shape Africa’s economic future.
Nigeria Woos Diaspora Investors in Silicon Valley, Says “Ready for Business”
News
Zulum Cracks Down on Insurgent Support Networks, Backs Airstrikes on ‘Notorious’ Border Market
Zulum Cracks Down on Insurgent Support Networks, Backs Airstrikes on ‘Notorious’ Border Market
By: Michael Mike
Borno State Governor, Babagana Zulum, has issued a stern warning to residents against aiding or providing any form of support to Boko Haram, as intensified military operations target suspected logistics hubs in the North-East.
The warning comes in the wake of recent air operations by the Operation Hadin Kai, which struck the Jilli general area in Gubio Local Government Area on April 11, 2026.
Jilli, a border community linking Borno and Yobe states, has come under scrutiny as a suspected conduit for insurgent activities. According to the governor, the Jilli market—alongside the nearby Gazabure market—had been officially shut down by the state government five years ago due to security concerns.
“I have been properly briefed on the airstrike carried out on Jilli market,” Zulum said, describing the location as a “notorious hub” allegedly exploited by insurgents and their supply chains.
He revealed ongoing high-level consultations with the Yobe State Government and military leadership, underscoring a coordinated regional approach to tackling insurgency and preventing the resurgence of rebel strongholds along state borders.
Zulum emphasized that any decision to reopen markets or resettle communities in conflict-affected zones is taken only after thorough security assessments and in collaboration with the military and other agencies.
Reaffirming his administration’s stance, the governor said protecting civilians remains paramount, while also stressing that individuals found aiding insurgents—whether through shelter, information, or logistics—would face serious consequences.
He urged residents to remain vigilant and support security forces by sharing credible intelligence, noting that community cooperation is critical to dismantling insurgent networks and restoring lasting peace in the region.
Zulum Cracks Down on Insurgent Support Networks, Backs Airstrikes on ‘Notorious’ Border Market
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