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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
Troops repel another ISWAP ambush, recover arms, motorcycles in Magumeri
By: Zagazola Makama
Troops of the Nigerian Army under Operation Hadin Kai have foiled a series of ambush attacks by Boko Haram and Islamic State West Africa Province (ISWAP) terrorists along the Damasak–Gubio road in Magumeri axis of Borno State.
Zagazola Makama gathered that the troops, who were on a fighting patrol as part of Operation Desert Sanity IV, came under fire from suspected terrorists on arrival at Binduldul.
Sources stated that the troops responded with superior firepower, forcing the terrorists to flee in disarray. Reinforcements led by the Commanding Officer of the Battalion later exploited the scene, recovering two motorcycles, one AK-47 rifle, five blankets, three praying mats, a spare motorcycle tyre and two gallons of engine oil.
The sources added that one terrorist was neutralised during the encounter.
Furthermore, at about 3:05 p.m. on the same day, while withdrawing from the area, the troops encountered another ambush involving an Improvised Explosive Device (IED) attack followed by heavy gunfire from ISWAP fighters near Kardio village.
The soldiers successfully repelled the assault, safely detonated another IED along their main supply route, and returned to base without any casualty.
Photographs from the operation indicated successful recovery of items and neutralisation of threats in the area.
Troops repel another ISWAP ambush, recover arms, motorcycles in Magumeri
One killed, three injured as gunmen attack farmers in Plateau
By: Zagazola Makama
The Plateau State Police Command has confirmed the death of one person and injuries to three others following an attack by suspected Fulani militias on Kopmur village, Mushere District, Bokkos Local Government Area.
Zagazola Makama gathered that the incident occurred on Oct. 22 at about 4:00 p.m., when the armed assailants stormed a house where some local farmers had taken shelter and opened fire.
The attack led to the death of Dashan Mwanar, 42, while Sonma Mwanar, 32, Kyenkyes Dakup, 26, and Joy Vumshak, 25, sustained varying degrees of injuries.
The Divisional Police Officer (DPO), Bokkos Division, led a team to the scene, where the injured victims were rescued and taken to the hospital for treatment.
The police said the deceased’s remains had been released to his relatives for burial after the family declined an autopsy.
Meanwhile, sources assured that investigation is ongoing, with intensified efforts to apprehend the culprits and prevent further attacks in the area.
One killed, three injured as gunmen attack farmers in Plateau
FCT Police, vigilantes comb bushes to rescue abducted school principal, daughter in Abuja
By: Zagazola Makama
The Federal Capital Territory (FCT) Police Command has intensified search and rescue operations following the abduction of a school principal and his daughter in Abaji Area Council of the FCT.
Zagazola Makama gathered that the incident occurred on Oct. 22, 2025, at about 3:00 a.m., when a group of armed kidnappers invaded the residence of Mr. Zakari Yelwa, Principal of Narati Government Secondary School, located opposite the Technical College, Abaji.
The assailants reportedly forced open the door to the residence and abducted Mr. Yelwa and his daughter, Hafsat Zakari, to an unknown destination.
Upon receipt of the distress call, a combined team of police operatives, the Anti-Kidnapping Unit, vigilante groups, and local hunters was immediately deployed to the scene.
The team has since launched a coordinated search operation, combing the surrounding bushes and hills in a bid to rescue the victims and apprehend the kidnappers.
Police authorities assured residents of Abaji that all efforts are being made to ensure the safe rescue of the victims and urged the public to report any useful information that could aid the ongoing operation.
FCT Police, vigilantes comb bushes to rescue abducted school principal, daughter in Abuja
Nigeria-Germany Trade Volume Hits €3 billion – Envoy
Troops repel another ISWAP ambush, recover arms, motorcycles in Magumeri
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