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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
News
Troops rescue 13 abducted Benue Links passengers, including students en route to sit for JAMB
Troops rescue 13 abducted Benue Links passengers, including students en route to sit for JAMB
By: Zagazola Makama
Troops of Operation Whirl Stroke (OPWS) have rescued 13 passengers abducted from a Benue Links commercial bus along the Makurdi–Otukpo road.
Zagazola report that the victims were among 17 passengers kidnapped on April 15 while travelling from Makurdi to Otukpo in Benue State. Three of the victims had earlier escaped from captivity, bringing the total number of those now safe to 16.
According to security sources, the rescue was achieved at about 190320A April 19 during a sustained search-and-rescue operation conducted by troops of Sub-Sector 1B, OPWS, in Ohimini Local Government Area.
The victims were located and rescued in a forested area around Okete Ward, behind the Idoma Doctors Forum building, following intensive tracking and exploitation of intelligence on the kidnappers’ movement.

Security sources further clarified that the perpetrators were local criminal elements in Benue and not Fulani bandits as initially speculated in some quarters. The attack was however, hastily attributed to external groups without proper verification.
“The operation was carried out professionally, leading to the safe recovery of 13 victims. Preliminary findings indicate that the perpetrators are criminal elements from within the state and not external armed groups as widely speculated,” the source said.
Those rescued include Hycent Oko (56), Elaiguli Joshua (25), Orili Raphael (29), Sunday Augustine (18), Emmanuel Elaicha (21), Gbile Nguyor Daniel (18), Ukacha Tersoo (18), Nyikwagh Aoridakator (22), Iornav Ngukuhan (18), Nyikwagh Benjamin (18), Buker Agatha (19), Paul Wende (29) and Akor Jessica (19).
The victims were immediately evacuated to the General Hospital in Otukpo, where they are currently receiving medical attention. Some of them sustained varying degrees of injuries during their captivity.
Further checks revealed that eight of the rescued passengers were students en route to sit for the Joint Admissions and Matriculation Board (JAMB) examinations at the time they were abducted, a development that underscores the disruptive impact of criminal activities on education and civil life.
The incident illustrated a growing trend of internally driven criminality, where local elements exploit familiar terrain and community networks to carry out abductions.
“This case clearly shows that not all security incidents should be viewed through ethnic or external lenses. Addressing insecurity requires acknowledging the role of local criminal networks and strengthening community cooperation with security agencies,” the source added.
Troops have since intensified operations in the general area to track down the perpetrators and rescue the remaining victim still in captivity.
Military high command reiterated their commitment to sustaining pressure on criminal elements across Benue and adjoining states, while urging residents to provide credible information that could aid ongoing operations.
They also reassured commuters and residents of continued efforts to secure major routes and restore confidence in public transportation across the state.
Troops rescue 13 abducted Benue Links passengers, including students en route to sit for JAMB
News
Hamza Suleiman NAN: Troops recover ammunition during patrol in Borno
Hamza Suleiman NAN: Troops recover ammunition during patrol in Borno
By: Zagazola Makama
Troops of Operation Hadin Kai have recovered a cache of ammunition during a fighting patrol in Mallam Fatori, Abadam Local Government Area of Borno State.
Security sources said the operation was conducted at about 7:30 a.m. on April 18 by troops of 68 Battalion deployed in the area.

The patrol was carried out ahead of the troops’ defensive location toward a suspected withdrawal route used by insurgents following an earlier attack on March 18.
During the operation, troops recovered 166 rounds of PKT linked ammunition and one bandolier.
No contact was made with any terrorist elements during the patrol.
They added that the general security situation across the theatre remains calm but unpredictable, while troops continue to maintain high morale and operational effectiveness.
Hamza Suleiman NAN: Troops recover ammunition during patrol in Borno
News
NDLEA Busts Drug Rings, Intercepts Cocaine Hidden in Food Flasks, Arrests Fashion Designer, Others
NDLEA Busts Drug Rings, Intercepts Cocaine Hidden in Food Flasks, Arrests Fashion Designer, Others
By: Michael Mike
Operatives of the National Drug Law Enforcement Agency (NDLEA) have intensified their crackdown on drug trafficking networks, intercepting cocaine ingeniously concealed in food flasks and cannabis hidden in snack packs, while arresting multiple suspects including a Lagos-based fashion designer.
The agency in a statement on Sunday by its spokesman, Femi Babafemi, said 12 large parcels of cocaine weighing 2.8 kilogrammes were uncovered at the export shed of the Murtala Muhammed International Airport (MMIA), Lagos.
Babafemi said the illicit consignment, bound for the United Kingdom via a Virgin Atlantic flight, was discovered in the false bottoms of food flasks on April 9.

He disclosed that two cargo agents—Ama Ufeim, 33, and Ogabi Akorede, 39—were arrested at the point of interception, with subsequent investigations leading to the arrest of the alleged sender, 52-year-old freight forwarder Agoro Moninuola.
In a related operation a day earlier, NDLEA operatives at the airport’s import shed intercepted 2.9 kilogrammes of “Loud,” a potent strain of cannabis, concealed in snack packs arriving from the United States aboard a Delta Air Lines flight.
He noted that initial arrests of cargo clearing agents Animashaun Adetunji and Mercy Oluwasegun paved the way for the apprehension of the consignee, Saheed Adegoke, a 29-year-old fashion designer, who was later tracked and arrested in Ogba, Lagos.
Beyond the airports, NDLEA operations extended across several states with significant seizures recorded. Along the Kaduna-Zaria highway, operatives intercepted a cement-laden trailer transporting 847 kilogrammes of skunk. The driver, Umar Garba Haruna, was taken into custody.
In Cross River State, a joint operation involving NDLEA officers and security personnel led to the destruction of 15,000 kilogrammes of cannabis cultivated on six hectares of farmland in Uwet community, Akamkpa Local Government Area. A suspect, Alice Udoh, 53, was arrested, while 119 kilogrammes of the substance was recovered.
Similarly, in Edo State, operatives raided a cannabis camp in Ovia North East Local Government Area, destroying over 2,281 kilogrammes of the drug and arresting three suspects. Additional arrests were made in Delta State, where over 87 kilogrammes of skunk and cannabis seeds were seized.
In Lagos, NDLEA officers intercepted a shipment of 11,900 tramadol capsules and 400 ampoules of phenobarbital injections along the Mile 2–Badagry expressway, with the consignment reportedly destined for Ghana. A separate raid on a two-storey building in Lagos Island yielded 95.8 kilogrammes of skunk.

Meanwhile, the agency sustained its War Against Drug Abuse (WADA) campaign nationwide, conducting sensitization programmes in schools, religious centres, and communities across states including Niger, Cross River, Kogi, Katsina, Kano, and Lagos.
Commending the operatives, NDLEA Chairman, Brig. Gen. Buba Marwa (Rtd), praised the balance between aggressive enforcement and preventive education, urging officers to maintain the current momentum in the fight against drug trafficking and abuse.
NDLEA Busts Drug Rings, Intercepts Cocaine Hidden in Food Flasks, Arrests Fashion Designer, Others
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