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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 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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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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UK–Nigeria Trade Mission Deepens Education, Skills Partnership

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UK–Nigeria Trade Mission Deepens Education, Skills Partnership

By: Michael Mike

A high-level United Kingdom trade mission on education and skills has concluded a week-long skills and schools trade mission to Nigeria, laying a solid foundation for expanded collaboration in education and workforce development between both countries.

The mission, which ran from April 19 to 23 in Abuja and Lagos, brought together leading UK private schools, skills providers and education institutions with Nigerian stakeholders, including policymakers, investors and school operators.

Organised by the UK Department for Business and Trade, the engagement is part of the UK’s broader International Education Strategy, which identifies Nigeria as one of five priority markets for global education partnerships. The initiative is being championed by Steve Smith, who is expected to return to Nigeria later this year to sustain momentum.

The mission builds on diplomatic and educational engagements during a recent state visit to the United Kingdom in March, further reinforcing the growing importance of education within UK–Nigeria bilateral relations.

At the heart of discussions was the expansion of in-country delivery of British education, including the establishment of internationally recognised UK schools in Nigeria, as well as the development of industry-aligned skills programmes, particularly in Technical and Vocational Education and Training (TVET).

In Abuja, the delegation held high-level talks with Nigeria’s Minister of Education, Tunji Alausa, securing strong political backing for deeper institutional cooperation. Both sides explored pathways for partnerships that would strengthen Nigeria’s education system while equipping young people with skills tailored to labour market demands.

The delegation also visited several British curriculum schools and colleges in Abuja and Lagos, gaining first-hand insight into teaching standards and operational models already in place within Nigeria.

Speaking at the conclusion of the mission, British Deputy High Commissioner, Jonny Baxter, highlighted education as a key pillar of bilateral engagement.

“The UK and Nigeria share a deep and longstanding relationship, and opportunities in education are one of its most exciting frontiers,” he said, noting that the mission demonstrated “strong appetite on both sides to deepen collaboration.”

He added that connecting UK institutions with Nigerian partners would help build sustainable, in-country education systems, while positioning Nigeria as a regional hub for high-quality learning.

Also reflecting on the mission, Sarah Chidgey described the initiative as a practical demonstration of the UK’s education strategy in action.

According to her, progress in UK–Nigeria education collaboration has grown steadily since her first visit in 2022, with the current mission reinforcing mutual commitment to expanding access, quality, and innovation in the sector.

The delegation included representatives from prominent UK institutions such as Harrow International School, The King’s School Canterbury, Whitgift School, Bedford School, and Pearson, among others.

The mission concluded with a robust pipeline of follow-up activities, including one-on-one engagements, memorandum of understanding (MoU) discussions, and agreed next steps aimed at translating dialogue into tangible partnerships.

Analysts say the initiative signals a shift toward more structured and commercially viable education cooperation between both countries, with potential benefits spanning student mobility, local capacity building, and skills development aligned to Nigeria’s economic priorities.

With sustained engagement expected in the months ahead, stakeholders believe the mission could mark a turning point in positioning Nigeria as a major destination for international education investment in Africa.

UK–Nigeria Trade Mission Deepens Education, Skills Partnership

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