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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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NANS Throws Weight Behind NDLEA Drug War, Endorses Tinubu’s Renewed Hope Agenda

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NANS Throws Weight Behind NDLEA Drug War, Endorses Tinubu’s Renewed Hope Agenda

By: Michael Mike

The National Association of Nigerian Students (NANS) has declared full support for Nigeria’s intensifying war against substance abuse, aligning with the efforts of the National Drug Law Enforcement Agency (NDLEA) to combat the growing threat of illicit drug use among young people.

The position was made known when NANS leaders, led by their National President, Sola Oladoja, paid a strategic visit to the NDLEA Chairman and Chief Executive Officer, Mohamed Marwa at the agency’s national headquarters in Abuja.

In a meeting that underscored rising concerns over drug abuse in tertiary institutions, the student leaders commended the NDLEA’s sustained crackdown on drug trafficking networks and its preventive campaigns targeting campuses.

Oladoja described the agency’s War Against Drug Abuse (WADA) initiative as a transformative intervention that has significantly increased awareness among students about the dangers of substance misuse.

He said the association’s support for the NDLEA is rooted in a shared responsibility to safeguard the future of Nigerian youths, noting that drug abuse continues to threaten academic performance, mental health, and societal stability.

The NANS leadership also used the occasion to reaffirm its backing of President Bola Tinubu and his Renewed Hope Agenda, pointing to policies they believe have directly impacted students and young people. Oladoja cited the rollout of the student loan scheme, improved stability in the academic calendar following the resolution of strikes, and expanded youth-focused programmes as evidence of the administration’s commitment.

According to him, these measures have strengthened confidence among students in the current government and informed their willingness to support its continuity beyond the current term.

Responding, Marwa welcomed the endorsement, describing Nigerian students as a critical constituency in the national effort to curb drug abuse. He noted that meaningful progress in the anti-drug campaign would require active collaboration with young people, particularly those in higher institutions where vulnerability to substance use remains high.

Marwa warned that drug abuse poses far-reaching consequences, from deteriorating health and disrupted education to increased crime and long-term social instability. He called on student leaders to take ownership of the campaign within their campuses by promoting awareness and discouraging peer influence toward drug use.

Addressing concerns over the Federal Government’s newly introduced drug integrity test policy for students, the NDLEA boss clarified that the initiative is not designed to punish but to protect. He explained that early identification of drug use allows for timely counselling, treatment, and rehabilitation, thereby preventing long-term damage.

The engagement ended with both NANS and NDLEA agreeing to deepen collaboration, signalling a more coordinated approach to tackling substance abuse within Nigeria’s academic environment.

NANS Throws Weight Behind NDLEA Drug War, Endorses Tinubu’s Renewed Hope Agenda

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Troops Recover 225 Rustled Cattle, Repel Bandits in Katsina

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Troops Recover 225 Rustled Cattle, Repel Bandits in Katsina

By: Zagazola Makama

Troops of Operation FANSAN YANMA have recovered no fewer than 225 rustled cattle after engaging suspected bandits in Katsina State.

Security sources told Zagazola that the operation was carried out at about 8:00 a.m. on April 20 by troops of 17 Brigade following credible intelligence on the movement of a notorious bandit leader, identified as Muhammad Filani, and his group.

The sources said the suspects were tracked to Kauri village in Kankia Local Government Area, where troops made contact and engaged them in a firefight.

“Upon contact, the troops engaged the bandits effectively, forcing them to flee and abandon the rustled cattle,” the source said.

The troops subsequently recovered a total of 225 cattle, which were handed over to relevant local authorities for identification and return to their rightful owners.

Military authorities noted that the operation has dealt a significant blow to cattle rustling networks operating within the area.

They added that troops have sustained aggressive patrols and intelligence-driven operations to deny bandits freedom of action across the state.

Meanwhile, under Operation Savannah Shield, troops continued offensive operations and routine security activities within their areas of responsibility.

Sources, however, confirmed that there was no major incident recorded during the period under review.

The Nigerian Army reaffirmed its commitment to protecting lives and property while intensifying efforts to combat banditry and related crimes in the North West.

Troops Recover 225 Rustled Cattle, Repel Bandits in Katsina

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Troops Foil Kidnap Attempt, Rescue Two Victims in Kaduna

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Troops Foil Kidnap Attempt, Rescue Two Victims in Kaduna

By: Zagazola Makama

Troops of the Nigerian Army have foiled a kidnap attempt and rescued two victims following a swift response to a distress call in Kaduna State.

Security sources said that the incident occurred at about 1:00 a.m. on April 21, when troops deployed under Operation Enduring Peace at Ungwan Gora checkpoint received reports of gunshots suspected to be from kidnappers.

The sources said the attack took place along the axis between Ungwan Dariya and Rafin Tagwi Bridge in Sanga Local Government Area.

“On receipt of the report, troops responded immediately and moved to the location, where they made contact with the suspected kidnappers,” a source said.

According to the source, the troops engaged the attackers, forcing them to flee into nearby bushes and abandon their victims.

During the operation, two persons who sustained gunshot wounds were rescued by the troops and promptly evacuated to a medical facility for treatment.

Military authorities said the swift intervention of the troops prevented what could have escalated into a successful abduction.

They added that patrols have been intensified within the area to track down the fleeing suspects and forestall further criminal activities.

The Nigerian Army reaffirmed its commitment to safeguarding lives and property, urging residents to continue providing timely information to security agencies.

Troops Foil Kidnap Attempt, Rescue Two Victims in Kaduna

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