Connect with us

News

VP Shettima Says Nigeria Must Transform Debt Into Economic Asset

Published

on

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

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Seven farmers killed in Plateau attack as reprisal cycle deepens

Published

on

Seven farmers killed in Plateau attack as reprisal cycle deepens

By; Zagazola Makama

The killing of at least seven farmers in Bum community, Chugwi area of Vwang District, Jos South Local Government Area (LGA) of Plateau State, late Wednesday, has been widely interpreted as the latest link in a rapidly escalating chain of reprisal violence that has gripped several parts of the state since early December 2025.

Sources told Zagazola Makama that the attackers, Fulani Bandits struck at about 11:00 p.m. on Wednesday, Dec. 31, 2025, when most villagers were already asleep, killing the farmers in their homes and nearby farmlands before fleeing.

Confirming the incident on Thursday, the spokesperson of the Berom Youths Moulder-Association (BYM), Mr Rwang Tengwong, said seven bodies had so far been recovered, while search and rescue operations were ongoing in surrounding bushes.

Tengwong said the attack occurred despite earlier security alerts warning that several communities in Jos South LGA were under imminent threat.

“According to local sources, the tragic incident occurred despite an earlier security alert indicating that some communities in Jos South LGA had been earmarked for possible attacks,” he said.

“Sadly, Bum community has now fallen victim to this renewed wave of violence. This attack adds to the growing list of assaults on innocent rural communities in Plateau State.”

However, the attack was linked to the Bum killings, a reprisal cycle triggered by a series of violent incidents involving pastoral and farming communities across Barkin Ladi, Jos East, Riyom and Jos South LGAs throughout December 2025.

The immediate backdrop to the Bum attack was the shooting of five Fulani youths on Dec. 27, 2025, near Con Filling Station along Bukuru Express Road, close to Angle D in Jos South LGA.

The victims, Abubakar Aji, Idi Saleh, Sulaiman, Nura Muhammad Detta and Dabo Abubakar were returning from Bukuru Cattle Market (Kara Market) when gunmen suspected to be Berom militias allegedly opened fire on their vehicle without provocation.

They sustained critical injuries and were rushed to Jos University Teaching Hospital for treatment.

The Plateau State Chairman of the Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), Alhaji Ibrahim Yusuf, condemned the shooting, describing it as part of a recurring pattern of attacks on Fulani travellers and pastoral communities.

He called for urgent investigation and improved security along major roads and commercial routes in the state.

Security sources note that the Dec. 27 shooting itself followed a more deadly incident on the night of Dec. 16, 2025, when gunmen reportedly attacked an illegal mining site at Tosho community in Fann District, Barkin Ladi LGA.

During that attack, 12 miners were killed and three abducted after the assailants allegedly demanded information on the whereabouts of 171 cattle stolen from Nding community on Dec. 10, 2025.

The December violence had begun earlier with attacks on pastoral assets. On Dec. 12, 2025, herders in Nding community, Fan District of Barkin Ladi LGA, lost about 137 cattle to rustlers. The animals reportedly belonged to Alhaji Wada Sale, Abdullahi Yusuf and Alhaji Talba Abubakar.

Less than 24 hours later, another rustling incident was reported in Kukukah community of Jos East LGA, where 34 cattle were driven away, though three later returned.

Soon after, nine cows reportedly died after allegedly consuming poisonous substances around Kwi village in Riyom LGA, further heightening tensions.

The situation deteriorated sharply two days later when four children were killed in Dorong village, Foron District of Barkin Ladi LGA, in what residents described as a Fulani reprisal attack. The victims were identified as Precious Joshuah, 17; Isa’ac Joshuah, 9; Mary Joshuah, 7; and Eve Sambo, 3.

Following that incident, retaliatory attacks reportedly continued, including an assault on Gero village in Jos South LGA, where several cattle were killed or fatally wounded.

Zagazola Makama noted that the killing of the seven farmers in Bum community fits a familiar pattern; attacks on cattle or pastoral communities, followed by retaliatory violence against farming settlements, and counter-reprisals along ethnic and communal lines.

Zagazola has repeatedly warned that unresolved cattle rustling, livestock poisoning and targeted killings often serve as triggers for revenge attacks on innocent civilians, creating a self-perpetuating cycle of violence.

Despite repeated early warnings and alerts, affected communities continue to accuse authorities of slow response, selective enforcement and failure to decisively dismantle armed militias on all sides.

As of press time, official reactions from security agencies on the Bum attack had yet to be issued.

Meanwhile, residents fear that without urgent, impartial intervention, the latest killings could provoke further reprisals, deepening insecurity across Plateau State at a time when many communities are still mourning losses from earlier December attacks.

Seven farmers killed in Plateau attack as reprisal cycle deepens

Continue Reading

News

Army troops foil bandits’ attack, neutralise five in Plateau

Published

on

Army troops foil bandits’ attack, neutralise five in Plateau

By: Zagazola Makama

Troops of 3 Division of the Nigerian Army and the Joint Task Force, Operation Enduring Peace (JTF OPEP), have foiled an attempted attack on communities in Plateau State, neutralising five bandits and recovering arms and ammunition.

Zagazola Makama gathered that the operation was carried out in the early hours of Thursday as part of the ongoing Operation Peace Shield, according to military sources.

The sources said the troops, acting on credible intelligence, laid an ambush along the Dutsen Zaki–Odare Forest axis in Wase Local Government Area, where bandits were mobilising to attack adjoining communities.

“During the firefight that ensued, troops neutralised five bandits, while others fled with gunshot wounds,” the source said.

Items recovered from the scene included two AK-47 rifle magazines loaded with 11 rounds of 7.62mm (Special) ammunition, two machetes and one knife.

The military said troops were currently on the trail of the fleeing bandits to prevent regrouping and further attacks in the area.

The operation, it added, was part of sustained efforts by troops of 3 Division and JTF OPEP to deny criminal elements freedom of action and ensure the safety of residents across the Joint Operations Area in Plateau State

Army troops foil bandits’ attack, neutralise five in Plateau

Continue Reading

News

Zulum Inaugurates 48-Classroom High Islamic College in Gubio

Published

on

Zulum Inaugurates 48-Classroom High Islamic College in Gubio

… Commissions 3 projects executed by Gubio LGA

By: Our Reporter

Borno State Governor, Babagana Umara Zulum, on Tuesday, officially opened a newly constructed 48-classroom High Islamic College in Gubio Local Government Area of northern Borno.

The state-of-the-art institution is designed to offer a hybrid curriculum that integrates western education with traditional sangaya (Qur’anic) educational system.

Zulum had introduced an integrated policy framework which aims to provide students with a holistic education, grounding them in both religious principles and contemporary academic knowledge.

Speaking at the commissioning ceremony, Zulum emphasised that the college is structured to ensure its graduates are not only deeply rooted in Islamic scholarship but are also fully equipped and qualified to pursue higher education in conventional institutions.

“Our focus has been on revitalising the system by preserving its rich tradition of Islamic scholarship while introducing modern subjects and vocational skills. We recognise the historic role of sangaya education in shaping moral values, discipline, and learning within our communities, while also equipping learners with essential skills in literacy, numeracy, science, technology, foundational English, and vocational training to enable them to function effectively and competitively in today’s society.”

“Through institutions operating under the National Board for Arabic and Islamic Studies (NBAIS) approved curriculum, sangaya learners are now receiving a balanced education that integrates Islamic Studies with modern knowledge. These reforms have created clear pathways for graduates to obtain O-Level equivalent certification and, where they so desire, progress to higher institutions of learning to further develop their potential.”

The facility, in addition to the 48 classrooms, also features administrative blocks and a library. It is expected to serve hundreds of students from Gubio and surrounding communities, reducing the need for children to travel far from home for quality integrated education.

Zulum also commissioned the Gubio II Junior Day Secondary School, executed by Borno State Government. During a tour of the facilities, the Commissioner for Education, Engr Lawan Abba Wakilbe, explained that classrooms are intended to provide safe and inclusive learning spaces, with a particular focus on improving access for adolescent girls.

… Commissions 3 projects executed by Gubio LGA

Meanwhile, Governor Babagana Umara Zulum has commissioned three projects executed by the Chairman of Gubio Local Government Area, Mali Bulama Mali Gubio.

The projects include Gubio Oil Mills, Zulum Ultramodern Clinic, and Mustapha Gubio Shopping Complex.

The occasions were attended by the Shehu of Borno, Abubakar Ibn Umar Garbai Elkanemi; Senator Mohammed Tahir Monguno; and Members of the House of Representatives, Usman Zanah and Engr Bukar Talba.

Other dignitaries include the Speaker Borno State House of Assembly, Abdulkarim Lawan, commissioners, special advisers and other senior government officials.

Zulum Inaugurates 48-Classroom High Islamic College in Gubio

Continue Reading

Trending

Verified by MonsterInsights