Connect with us

News

VP Shettima Says Nigeria Must Transform Debt Into Economic Asset

Published

on

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

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Police detain inspector, girlfriend over missing rifle in Taraba

Published

on

Police detain inspector, girlfriend over missing rifle in Taraba

By: Zagazola Makama

The Police in Taraba have detained an inspector and his girlfriend following the reported loss of an assault rifle along the Wukari–Jootar Federal Highway.

According to the source, the missing firearm belonged to Insp. Joshua Charles, aged 45, attached to the Safer Highway Patrol team.

The sources told Zagazola Makama that on Dec. 25, at about 3:00 p.m., the inspector reportedly left his duty post to Wukari town, leaving behind three other officers Insp. Haruna Galadima, Insp. Isah Waziri and Insp. Umar Mohammed who remained on duty.

“At about 8:30 p.m., the inspector’s girlfriend, one Ruth Alphancis of Sabon Gari area in Jalingo, who has been cohabiting with him since August 2025, returned from Jootar village in Benue and claimed to have seen an unidentified person breaking out of the house,” the source said.

He added that on the inspector’s return from Wukari town, allegedly in a drunken state, he discovered that his Type 06 assault rifle, loaded with 25 rounds of live ammunition, which he said he left inside the room, was missing.

The breach number of the rifle could not be immediately ascertained, the source said.

Following the report, the sources said operatives visited the scene, while efforts were intensified to recover the missing firearm and apprehend those responsible.

“The inspector and his girlfriend are currently in detention to aid investigation, while collaborative efforts involving local residents and hunters are ongoing to recover the rifle,” the source added.
End

Continue Reading

News

Troops of Operation Hadin Kai repel Boko Haram attack in Adamawa

Published

on

Troops of Operation Hadin Kai repel Boko Haram attack in Adamawa

By: Zagazola Makama

Troops of Operation Hadin Kai, in collaboration with other security elements, have repelled an attack by suspected Boko Haram terrorists on Mayo Ladde village in Hong Local Government Area of Adamawa.

The attack occurred at about 9:00 p.m. on Friday in Mayo Ladde, a border community linking Askira/Uba Local Government Area and the Sambisa Forest axis of Borno.

Sources told Zagazola Makama that troops supported by members of the Civilian Joint Task Force (CJTF), swiftly responded to a distress call on the attempted incursion.

“The terrorists attempted to attack the village but were decisively engaged by the troops, who repelled them and forced them to retreat,” the source said.

According to the sources, no casualty was recorded during the incident, as residents of the village had fled the area before the arrival of the terrorists.

The source added that troops had intensified patrols and surveillance in the general area and along the border communities to forestall further attacks and deny the terrorists freedom of movement.

Operation Hadin Kai reiterated its commitment to sustaining offensive operations against Boko Haram and ISWAP elements to ensure the safety of lives and property in the North-East.

Troops of Operation Hadin Kai repel Boko Haram attack in Adamawa

Continue Reading

News

BOTMA: The agency will not tolerate underage driving in Maiduguri

Published

on

BOTMA: The agency will not tolerate underage driving in Maiduguri

By: Bodunrin Kayode

The general manager of the Borno State Traffic Management Agency (BOTMA), Eng. Baba Tijani, has said that his agency will not tolerate “underaged” kids driving keke napep in Maiduguri and environs.

The GM warned that the brazen display of wrongdoing by Keke Napep was becoming alarming, especially with lots of underage kids being caught committing such crimes.

The Borno traffic management agency boss vowed to bring owners of such erring Keke napeps to book to check their reckless behavior on the streets of the Maiduguri metropolis and beyond.

Tijani, who spoke exclusively during the 2025 Federal Road Safety Corp RS12.2 Borno special marshals sectoral workshop, said that his management is aware of the dangerous excesses of the Keke Napep riders in the town and has never taken it lightly with them.

“I can assure you that we have details of all the excesses of the Keke Napep drivers in the city, and we are not joking with them. As long as we have their details, we can trace and deal with them, and the rest is history.

“I can assure you that there is no keke that is not registered by us regardless of their high numbers. For as long as they are registered in our data bank, we know how to trace them. Even if the keke is used for robbery, I assure you, we know how to sanction them for as long as they are within the state.

“By the way, it is not true that we are not capable of handling them in spite of their numbers and the enormous nature of their offenses. We do not overlook the misdemeanor of Keke Napep drivers in Maiduguri no matter how small they are.”

He told this reporter that under his watch kids who are under 18 were totally forbidden from driving keke napeps in Maiduguri metropolis, adding that residents should also avoid such keke napeps because they are obviously a death trap for commuters.

Eng. Tijani stressed that unless drivers are 18 years or above, they are not permitted to drive a keke napep in the entire Borno state, adding that only stable adults are registered as drivers of napep in their data bank used to sanction erring ones.

Tijani noted that for the remaining part of the year, his men will monitor the main roads in the metropolis thoroughly during the yuletide period to force the napep boys to conform to expected norms and behavioral patterns.

On staff strength, he added that the agency has been making use of what it has, hinting that “we have over 300 personnel in MMC and Jere alone, and we are trying to do our best with what we have even with the confusion at the Custom and Gamboru axis of the town.”

“We are aware of the challenges in many areas, and we believe that very soon the customs area will be handled. We are aware that the area is heavily congested in terms of traffic because the tunnel from one side to the other is not used, but I wish to assure commuters that all this will become history soon.

On the misbehavior of some of his staff, he noted that checks and balances have been placed within the system by management, adding that their provost marshals in white caps are out to oversee the erring staff and will send feedback to us on the next step.

Eng. Tijani called on the general public to cooperate with him and his management team by reporting erring marshals as and when wrongs were committed, adding that as soon as they are reported, action will be taken against such officials.

To press his point home, the GM revealed that about 30 erring marshals have been sacked so far from the agency, stressing that management does not drop their guards when it concerns portraying them in a bad light.

Speaking on the welfare of his staff, the GM agreed that there was an urgent need to boost the salaries of his marshals, as they are quite lower than the current minimum package.

He, however, announced that he was not leaning on his oars concerning their welfare because the matter has been tabled before the executive, and the governor is about to work on it, thereby taking care of his people.

Tijani regretted that they do not have a board that would assist them in putting their challenges on the front burner but is grateful to the media for doing justice to the plight of his people.

BOTMA: The agency will not tolerate underage driving in Maiduguri

Continue Reading

Trending

Verified by MonsterInsights