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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
Gunmen kill eight in Nasarawa village attack
By: Zagazola Makama
At least eight persons have been confirmed dead following an armed attack on Nindama village in Kokona Local Government Area of Nasarawa State.
Sources said that the attack occurred in the early hours of Oct. 10.
The sources said that unknown gunmen invaded the village around 3:30 a.m., shooting sporadically and killing eight residents.
“Two other persons sustained critical injuries and are currently receiving treatment, while six others are still missing,” the sources said.
He said that at about 3:30 p.m., a combined team of security agencies including army, police, Department of State Services (DSS), Nigeria Security and Civil Defence Corps (NSCDC), and the Vigilante Group of Nigeria (VGN) visited the scene along with the Executive Chairman of Kokona LGA, Hon. Agbawu M. Agbawu.
According to the sources, the corpses have been evacuated to the mortuary, while efforts are ongoing to locate the missing persons and apprehend the attackers.
Preliminary investigation, sources said, indicated that the attack may have been connected to a lingering land dispute in the area.
The security forces assured residents of intensified security patrols and urged anyone with useful information to assist the ongoing investigation.
Gunmen kill eight in Nasarawa village attack
News
Bandit abduct road construction worker in Katsina as security forces intensify search and rescue
Bandit abduct road construction worker in Katsina as security forces intensify search and rescue
By: Zagazola Makama
A search-and-rescue operation has been launched to secure the release of a road construction worker abducted by gunmen in Charanchi Local Government Area of Katsina State.
Zagazola learnt that the incident occurred at about 7:14 p.m. on Thursday along the Kunduru–Kadanya feeder road, when unknown assailants reportedly laid an ambush and kidnapped one Kabiru Bature, a 35-year-old driver attached to Stantech Road Construction Company.
The sources said that security forces were immediately mobilised to the area, blocked all potential escape routes, and initiated a cordon-and-search operation aimed at rescuing the victim and apprehending the perpetrators.
The troops have been deployed to track the movements of the kidnappers, believed to have fled into the surrounding forest.
Efforts were ongoing as of the time of filing this report to rescue the victim safely and bring the abductors to justice.
Bandit abduct road construction worker in Katsina as security forces intensify search and rescue
Troops repel Boko Haram attack in Konduga
By: Zagazola Makama
The Troops of Operation HADIN KAI , in collaboration with police tactical teams and local hunters, have repelled a Boko Haram/ISWAP attack on Goni Dinari village in Konduga Local Government Area of Borno State.
Sources said the attack occurred at about 5:56 a.m. on Friday when suspected Boko Haram terrorists invaded the village and set some houses ablaze.
The troops immediately alerted, leading to a swift joint response by troops, police tactical teams, the Civilian Joint Task Force (CJTF), and local hunters.
“The attack was successfully repelled and normalcy has since been restored to the area,”sources said.
Troops had deployed to the village for confidence-building patrols, while monitoring and surveillance operations continued.
Troops repel Boko Haram attack in Konduga
Gunmen kill eight in Nasarawa village attack
Bandit abduct road construction worker in Katsina as security forces intensify search and rescue
Troops repel Boko Haram attack in Konduga
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