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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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NCoS Dismisses Claims of Prisons as TB Hotbeds, Reaffirms Strong Disease Control Measures

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NCoS Dismisses Claims of Prisons as TB Hotbeds, Reaffirms Strong Disease Control Measures

By: Michael Mike

The Nigerian Correctional Service (NCoS) has rejected claims that custodial centres across the country have become “hotbeds” for tuberculosis (TB), describing such assertions as misleading, alarmist, and unsupported by verified data.

In a press statement issued on Sunday, the Service spokesperson, Jane Osuji faulted a report published by Daily Trust on January 3, 2026, titled “How Nigerian Prisons Became Tuberculosis Hotbeds,” insisting that the narrative failed to reflect the realities within Nigeria’s correctional facilities.

According to the NCoS, while it welcomes responsible media engagement on public health and inmate welfare, the report relied on sweeping generalisations and unverified claims, despite the Service having provided the reporter with detailed and factual information on tuberculosis prevention and treatment in custodial centres.

“The portrayal of custodial centres as unchecked tuberculosis hotbeds is misleading and unfair,” the Service said, adding that some of the names and cases cited in the report do not exist in the records of any correctional facility known to the Service.

The NCoS noted that tuberculosis remains a global public health challenge affecting both custodial and non-custodial populations, stressing that Nigeria’s TB response is coordinated by the Federal Ministry of Health through the National Tuberculosis, Leprosy and Buruli Ulcer Control Programme (NTBLCP), in line with World Health Organization guidelines.

It explained that the Service is an active stakeholder in the national TB response, operating health clinics across custodial centres nationwide and working closely with the NTBLCP, federal and state ministries of health, non-governmental organisations, and development partners.

These collaborations, the Service said, support routine TB screening, laboratory diagnosis, treatment initiation, adherence monitoring, and referral to secondary or tertiary health institutions where required. Inmates diagnosed with tuberculosis are placed on nationally approved treatment regimens at no cost.

The NCoS further outlined that healthcare management in custodial centres includes medical screening upon admission, periodic health assessments, infection prevention and control measures, isolation of infectious cases when clinically indicated, and structured referral systems to external hospitals.

While acknowledging challenges such as congestion in some urban custodial facilities and ageing infrastructure, the Service stressed that these issues do not amount to neglect of inmate welfare. It highlighted ongoing decongestion efforts through jail delivery exercises, collaboration with the judiciary, and the expansion of non-custodial measures provided for under the Nigerian Correctional Service Act.

The Service also recalled its handling of the COVID-19 pandemic, noting that despite custodial centres being classified globally as high-risk environments, proactive screening, isolation protocols, and close collaboration with public health authorities ensured that no active COVID-19 cases were recorded in custodial centres nationwide.

According to the NCoS, this experience demonstrates its institutional capacity and preparedness to manage communicable diseases, including tuberculosis, within custodial settings.

The statement added that the Federal Government has approved the recruitment of additional medical and healthcare professionals to further strengthen health service delivery, disease surveillance, and treatment programmes across custodial centres.

Reaffirming its commitment to safeguarding the health, dignity, and human rights of persons in custody, the Nigerian Correctional Service said it remains open to constructive criticism but will continue to challenge reports that misinform the public or unjustly malign the institution.

NCoS Dismisses Claims of Prisons as TB Hotbeds, Reaffirms Strong Disease Control Measures

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US Invasion of Venezuela: ECOWAS Urges Restraint, Backs Dialogue

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US Invasion of Venezuela: ECOWAS Urges Restraint, Backs Dialogue

By: Michael Mike

The Economic Community of West African States (ECOWAS) has expressed concern over the recent developments in the Bolivarian Republic of Venezuela, calling on all parties to exercise restraint and respect international law.

In a statement issued in Abuja on Sunday, ECOWAS acknowledged the right of states to combat international crimes such as terrorism and drug trafficking but stressed that such efforts must be carried out in line with established principles of international law.

The regional bloc reminded the international community of the obligation to respect the sovereignty and territorial integrity of all nations, as provided under Article 2(4) of the United Nations Charter.

ECOWAS said it fully aligns with the African Union’s position, articulated in a statement released on 3 January 2026, which urged restraint and encouraged inclusive dialogue among the people of Venezuela as a means of addressing the country’s challenges.

The statement comes amid heightened tensions in Venezuela following reports of foreign military actions and growing international reactions to the evolving security and political situation in the South American country. Venezuela has in recent years faced prolonged political instability, economic hardship, and international pressure, leading to sharp divisions both domestically and globally over how best to address the crisis.

ECOWAS reiterated its solidarity with the Venezuelan people and called on all states to respect Venezuela’s independence and territorial integrity. The bloc expressed support for efforts by Venezuelans to determine the future of their country through an inclusive and peaceful process.

The West African regional body joins a growing list of international and regional organisations advocating de-escalation and dialogue as tensions continue to draw global attention.

US Invasion of Venezuela: ECOWAS Urges Restraint, Backs Dialogue

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Troops neutralise seven terrorists, rescue hostages in Borno

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Troops neutralise seven terrorists, rescue hostages in Borno

By: Zagazola Makama

Troops of Joint Task Force (North East), Operation Hadin Kai, have neutralised seven terrorists and rescued three abducted persons during coordinated clearance and ambush operations in Konduga Local Government Area of Borno.

Zagazola Makama reliably informed that the latest encounters occurred in the early hours of Saturday under Operation Desert Sanity V.

According to the sources, troops operating in conjunction with members of the Hybrid Force and Civilian Joint Task Force (CJTF) made contact with terrorists at about 4:40 a.m. at Sojiri, a known terrorist crossing point in Konduga LGA.

“During the firefight, five terrorists were neutralised, while three hostages kidnapped by the terrorists were successfully rescued. One AK-47 rifle was also recovered,” the sources said.

They added that no casualty was recorded on the side of own troops, with no personnel killed, wounded or missing.

In a related operation, the main advancing force into terrorist territory was reported to be about four kilometres short of the crossing point at Kana after commencing movement from a harbour position.

The sources said contact was made by an ambush team between Meleri and Ngirbua, where two additional terrorists were neutralised and one AK-pattern rifle recovered.

Zagazola reports that Operation Desert Sanity V is part of sustained offensive actions by the Nigerian military aimed at degrading terrorist networks, blocking movement corridors and rescuing abducted civilians across the North East.

Troops neutralise seven terrorists, rescue hostages in Borno

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