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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 storm bandit leader’s camp in Zamfara, neutralise 20, destroy stronghold
By: Zagazola Makama
Troops of the 8 Division, Nigerian Army, operating under Sector 2 of Operation FANSAN YAMMA, have stormed the camp of a notorious bandit leader, Gwaska Dan Karmi, in Maru Local Government Area of Zamfara State, neutralising 20 terrorists and destroying the stronghold.
A military source told Zagazola Makama that the decisive, well-coordinated offensive followed credible intelligence that over 100 bandits had converged at the camp to plan coordinated attacks on communities and logistics movements.
According to the source, the troops, supported by the Nigerian Air Force, the Civilian Joint Task Force (CJTF) and local vigilantes, conducted week-long surveillance before moving to intercept the terrorists.
“Contact was established on Jan. 31, 2026, as the terrorists advanced. They engaged the troops in a fierce firefight and attempted a flanking manoeuvre, but this was repelled by superior firepower,” the source said.
He said 20 terrorists were neutralised in the encounter, while several others fled with gunshot wounds. Follow-up operations, the source added, were ongoing to assess further casualties and recover additional items.
The raid yielded significant recoveries, including assorted weapons and ammunition, bicycles, food supplies, medical drugs, clothing, detergents and other logistics materials.
“The Gwaska Dan Karmi camp was completely destroyed,” the source said.
He noted that troops remained highly motivated, with combat efficiency assessed as strong and unwavering.
Troops storm bandit leader’s camp in Zamfara, neutralise 20, destroy stronghold
Army troops, police rescue abducted victim in Zamfara
By: Zagazola Makama
Army troops of Operation FANSAN YAMMA, in collaboration with the Zamfara State Police Command, have rescued an abducted man in Tsafe Local Government Area of the state.
Sources said that the incident occurred on Jan. 29, when armed bandits invaded the residence of Abdullahi Isah Nagari on the outskirts of Tsafe town and abducted him to an unknown destination.
According to the source, troops under Operation FANSAN YAMMA, in collaboration with the Divisional Police Officer (DPO) of Tsafe Division promptly mobilised to launch a coordinated rescue operation.
“During a thorough search of the surrounding bushes, the victim was successfully located and rescued. He was found tied to a tree with a machete cut injury on his hand,” the source said.
The sources added that the victim was immediately taken to the General Hospital, Tsafe, where he was receiving medical attention.
The source said efforts were ongoing to track down and arrest the perpetrators, while security patrols had been intensified in the area to prevent further occurrences.
Army troops, police rescue abducted victim in Zamfara
U.S. official heads to Mali to reset ties, boost Sahel cooperation
By: Zagazola Makama
A senior official of the United States Government, Nick Checker, is travelling to Bamako to convey Washington’s respect for Mali’s sovereignty and explore a new course in bilateral relations between the two countries.
This is according to a statement issued by the U.S. State Department’s Bureau of African Affairs.
The statement said Checker, a Senior Bureau Official at the State Department, would engage Malian authorities on ways to move past previous policy missteps and rebuild cooperation.
It added that the United States was looking forward to discussing next steps for enhancing U.S.–Mali relations, particularly in the areas of security and economic development.
“The United States also plans to consult with other governments in the region, including Burkina Faso and Niger, on shared security and economic interests,” the statement said.
It noted that the visit underscored Washington’s desire to strengthen engagement with Sahelian countries amid ongoing regional security and political challenges.
The Bureau said the discussions would focus on practical ways to promote stability, respect for sovereignty and mutually beneficial cooperation across the Sahel.
U.S. official heads to Mali to reset ties, boost Sahel cooperation
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Troops storm bandit leader’s camp in Zamfara, neutralise 20, destroy stronghold
Army troops, police rescue abducted victim in Zamfara
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