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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 Intervene in Farmer-Herder Clash in Riyom, Recover 37 Sheep

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Troops Intervene in Farmer-Herder Clash in Riyom, Recover 37 Sheep

By: Zagazola Makama

Troops of Operation Enduring Peace (OPEP) have intervened in a farmer-herder clash in Riyom Local Government Area of Plateau State, rescuing the injured parties and securing livestock pending peaceful resolution of the dispute.

Security sources Zagazola Makama that the incident occurred at about 2:00 p.m. on May 11 at Potok Fongon village in Ganawuri District of Riyom LGA.

The sources said troops of Sector 6 OPEP deployed at Ganawuri responded swiftly following reports of a clash between a farmer, Mr Fon Gehgeh, and a herder, Mr Usman Iliyasu, over alleged grazing on farmland.

According to the sources, troops arrived at the scene and found both men with varying degrees of injuries sustained during the altercation.

The victims were immediately evacuated to the Primary Health Centre in Ganawuri for medical treatment.

The troops also recovered 37 sheep belonging to the herder and moved them to a safe location pending amicable settlement of the dispute by relevant authorities and community leaders.

Security officials said efforts were ongoing to ensure peaceful resolution of the matter and prevent escalation of tensions within the community.

Troops Intervene in Farmer-Herder Clash in Riyom, Recover 37 Sheep

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Alleged Coup Trial: Cleric Says He Warned That The Plot Would Fail

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Alleged Coup Trial: Cleric Says He Warned That The Plot Would Fail

*Admits he received money for ‘prayers’

By: Zagazola Makama

A Federal High Court in Abuja, on Monday, viewed a video- recorded statement by Sheikh Sani Abdulkadir, the sixth defendant in the ongoing trial of persons accused of conspiring to overthrow the government of President Bola Tinubu.

In the recording, the Sheikh, who admitted receiving money to pray for the success of the operation, however, claimed that he warned the alleged plotters that their plan was doomed and that they would be sabotaged from within.

The video recording was played during the continuation of trial proceedings, with the fourth prosecution witness (PW4) still in the witness box.

In the recording, Abdulkadir, an Islamic cleric, said he had known the alleged ringleader, Colonel Maaji, for less than a year and was approached through an intermediary identified as Sanda to offer spiritual support for the plot.

He told investigators that Sanda informed him that his “Oga” intended to stage a coup and needed prayers regarding its likely success. After conducting the prayers, Abdulkadir said he advised them the operation would fail and that two persons would eventually expose those involved.

A subsequent request was relayed back to him, he said, asking for further prayers to prevent those two individuals from speaking out. Money was later transferred to him for prayers and charity, and names of alleged participants were forwarded for inclusion.

Abdulkadir said he first learnt of the arrests through media reports, after Sanda had informed him that Colonel Maaji had been unreachable for four days. He maintained throughout the recording that the funds he received were strictly for prayers and not in support of any coup attempt.

He also acknowledged understanding that a coup meant a military overthrow of government but said he did not report the plot because he did not know who to report to.
The cleric said his arrest came after he visited the Economic and Financial Crimes Commission (EFCC) to resolve restrictions placed on his bank account.

Upon contacting an EFCC deputy director, he was invited to the commission’s office to explain the source of the funds. He denied making any coup-related statement while in EFCC custody and stated that he was neither assaulted nor tortured, and that all his statements were made voluntarily.

Following the playback, the prosecution sought to tender extra-judicial statements made by all six defendants before a Special Investigation Panel and military police authorities.

However, defence lawyers of all six defendants objected, arguing the statements were either involuntarily obtained or made in violation of the Administration of Criminal Justice Act (ACJA).

Their objections include failure to inform defendants of their right to legal representation; alleged discrepancies between video recordings and corresponding written statements; allegations of coercion, inducement and torture; and claims that the footage did not adequately establish the physical condition of defendants during recording.

Counsel to the fifth defendant further argued that, given the number of accused persons, the court should conduct separate trial-within-trial proceedings for each disputed statement rather than a combined exercise.

Responding, the prosecution urged the court to dismiss the objections, maintaining that the law does not mandate separate proceedings for each defendant and that the trial judge holds discretion over how evidence is received.

Justice Joyce Abdulmalik ruled in favour of a single joint trial-within-trial to determine the voluntariness and admissibility of all the disputed statements.

The case was then adjourned to May 12.

Alleged Coup Trial: Cleric Says He Warned That The Plot Would Fail

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Gov. Mutfwang Urges Responsible Reporting, Says Plateau Remains Safe for Visitors

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Gov. Mutfwang Urges Responsible Reporting, Says Plateau Remains Safe for Visitors

By: Zagazola Manama

Plateau State Governor, Caleb Mutfwang, has urged journalists and social media users to exercise restraint and professionalism in reporting security incidents in the state, warning that unverified reports and sensational narratives were damaging Plateau’s image.

The governor made the appeal during a stakeholders’ engagement in Barkin Ladi Local Government Area following recent security challenges in parts of the state.

Mutfwang said while the government remained committed to transparency and accurate documentation of security incidents, the spread of rumours and misleading reports on social media was negatively affecting public perception of Plateau State.

“I don’t want to suggest to anyone that any incident should be swept under the carpet. We keep accurate data of all accounts, but many people are in a hurry to put things on social media, and in the process, they are destroying the state,” the governor said.

He cautioned against publishing unverified information, noting that false reports often distort facts and create unnecessary panic among residents and outsiders.

According to him, there was a deliberate attempt by some individuals to portray Plateau State as unsafe and discourage tourism and investment in the state.

“There is a deliberate plan to de-market Plateau State and tell the world that Plateau is not a place anybody should visit. But let me reassure Nigerians and the international community that Plateau still remains the Home of Peace and Tourism. Nobody will take that away from us,” he stated.

The governor appealed to media practitioners to remain responsible in their reportage and support ongoing efforts aimed at restoring lasting peace and stability across affected communities.

He reiterated his administration’s commitment to strengthening security operations, protecting lives and property, and creating an enabling environment for economic and tourism activities to thrive in the state.

Gov. Mutfwang Urges Responsible Reporting, Says Plateau Remains Safe for Visitors

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