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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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Troops Repel Terrorist Infiltration in Kanama, Neutralise Four Insurgents

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Troops Repel Terrorist Infiltration in Kanama, Neutralise Four Insurgents

By: Zagazola Makama

Troops of Operation HADIN KAI have repelled a Boko Haram/ISWAP terrorist infiltration into Kanama town, neutralising four insurgents during a swift response operation in Borno State.

Security sources said the incident occurred at about 6:00 p.m. on April 22 when troops of 159 Battalion, deployed in Kanama, responded to sounds of gunfire within the town.

On arrival, the troops reportedly discovered that terrorists had infiltrated parts of the community.

The troops immediately made contact and engaged the attackers with disciplined fire, forcing them to retreat in disarray.

Subsequent exploitation of the general area led to the neutralisation of four terrorists.

One member of the Civilian Joint Task Force (CJTF) sustained injuries during the encounter and has been evacuated for medical attention.

No military equipment was lost during the operation.

Items recovered from the terrorists include two torchlight mobile phones and the sum of ₦21,000.

Security sources said the general situation across the theatre remains calm but unpredictable, while troops’ morale and fighting efficiency remain high.

Troops Repel Terrorist Infiltration in Kanama, Neutralise Four Insurgents

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Dramatic Testimony Rocks Nwaukoni Terrorism Trial In Asaba — Doctor Confirms Gunshot Wounds In Palace Attack Case

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Dramatic Testimony Rocks Nwaukoni Terrorism Trial In Asaba — Doctor Confirms Gunshot Wounds In Palace Attack Case

The high-profile terrorism trial in Charge No. FHC/ASB/18C/2024 took a dramatic and gripping turn this week at the Federal High Court, Asaba, as explosive evidence and powerful witness testimonies continue to unfold against Mike Nwaukoni (aka “Supu”) and his alleged accomplices.

Standing trial alongside him are prominent figures including Barrister Francis Okolie, Secretary of the Ogwashi-Uku Development Association (ODA), and Mazi Elue Adigwe, the association’s Secretary-General, among others accused in connection with the violent October 12, 2023 attack on the Palace of the Obi of Ogwashi-Uku.

🔴 Doctor’s Testimony Leaves Court in Silence

In what court observers have described as one of the most chilling moments of the trial so far, Dr. Ezeike Ugochukwu Godwin took the witness stand and delivered a clinical yet deeply emotional account of the injuries sustained by a vigilante operative assigned to protect the Palace.

The doctor confirmed that the victim suffered multiple gunshot wounds, including injuries to the head and upper limbs, describing in precise medical terms the severity of the trauma.

According to his testimony, the victim was brought into the emergency unit in a state of intense pain and critical distress, alongside several others wounded during the attack.

Dr. Ezeike further told the court that the patient was referred from the Divisional Police Headquarters in Ogwashi-Uku, reinforcing the official chain of response following the violent incident.

🔴 Police Investigator Details Chaos and Destruction

A day earlier, on April 21, 2026, the court heard from Inspector Ijeoma Ovat, the initial Investigating Police Officer (IPO), who painted a harrowing picture of the aftermath of the attack.

She testified about the widespread chaos, multiple casualties, and destruction that followed the invasion of the Palace during the controversial Ineh Festival. Crucially, she tendered photographic evidence showing heavily damaged police and vigilante vehicles, corroborating claims of a coordinated and violent assault.
Sources within the prosecution confirm that the damage to the vehicles was extensive and consistent with armed aggression.

🔴 Witnesses Tie Defendants to Armed

AssaultEarlier testimonies in the trial have reportedly identified the defendants as active participants, alleging they were armed with guns and other dangerous weapons during the attack. Witnesses have also pointed to Mike Nwaukoni as a central figure who allegedly instigated and coordinated the operation.

🔴 Passport Request Sparks Legal Firestorm

In a fresh development that has further intensified proceedings, lead prosecutors in the case including CSP Samuel Mallum Esq and A.I Aminu Esq from the Police Legal Directorate in Abuja have strongly opposed an application by Nwaukoni’s legal team seeking the temporary release of his international passport for overseas travel.

According to sources, the prosecution argued that granting such a request poses a serious flight risk, warning that the defendant could attempt to evade justice, seek asylum, or acquire foreign citizenship.

The prosecution also suggested that the move may be a deliberate tactic to delay the trial, particularly as significant portions of the case have already been established.

The matter has been adjourned for further consideration, with hearings expected to resume in late May, continuing into early June 2026.

🔴 Calm Returns to Ogwashi-Uku Amid Trial

Meanwhile, community sources in Ogwashi-Uku report a notable return of peace and stability since the commencement of the trial. Residents have expressed hope that the judicial process will be seen through to a swift and just conclusion, bringing lasting closure to one of the most serious security incidents in the Kingdom’s recent history.

Dramatic Testimony Rocks Nwaukoni Terrorism Trial In Asaba — Doctor Confirms Gunshot Wounds In Palace Attack Case

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Troops Intercept Suspected Terrorist Logistics Supplier, Seize PMS in Borno

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Troops Intercept Suspected Terrorist Logistics Supplier, Seize PMS in Borno

By: Zagazola Makama

Troops of Operation HADIN KAI have arrested a suspected ISWAP/JAS logistics supplier and intercepted a large quantity of Premium Motor Spirit (PMS) concealed in a tricycle in Borno State.

Security sources said the suspect was apprehended at about 9:10 a.m. on April 21 by troops of 159 Battalion at a checkpoint within Sector 2 Area of Responsibility.

The suspect was reportedly conveying PMS concealed in 15 sacks, disguised with bags of sachet water in an attempt to evade detection.

Preliminary investigations indicated that the consignment was being transported to Kanama town and neighbouring communities around Dikwa and Bultuwa, areas believed to be within terrorist influence.

Items recovered from the suspect include a mobile phone and the sum of ₦34,950.

The sources said the suspect and recovered exhibits are in military custody for further investigation and necessary action.

They added that the interception forms part of ongoing operations aimed at disrupting terrorist logistics networks and denying them access to critical supplies across the North-East theatre.

Troops Intercept Suspected Terrorist Logistics Supplier, Seize PMS in Borno

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