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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
Kwara Residents Call on the Federal Government to Rescue Residents Captured in Woro as a Video of Abductees Surfaces Online
Kwara Residents Call on the Federal Government to Rescue Residents Captured in Woro as a Video of Abductees Surfaces Online
By:Bodunrin kayode
There has been urgent calls on the Federal, government with the military might to take swift action to rescue the 176 abducted residents of woro community back to safety away from captivity.
This came about after a disturbing video clip showing captured residents of the recent attack in Woro community, Kaiama council Area of Kwara State, surfaced online.
In the video, several women and young children, including infants, were paraded by the terrorists looking distressed and helpless.
A voice believed to be that of one of the attackers was heard behind the camera speaking in Hausa and questioning the victims about their numbers and were they were captured because they were quite a handful.
During the question and answer session the women and children responded that they were taken from Woro in Kaiama council so that their relations will know they are still alive.
“When asked how many they were, they answered that they were 176 in number. The same question was repeated to another woman in the video to confirm the figure.
” The person behind the camera also claimed that authorities had earlier announced a lower number of victims and said the video was proof of the actual figure.
“The victims were abducted after armed attackers invaded Woro community on February 3, 2025. During the attack, many lives were lost and homes were destroyed.
” The emergence of this video has increased fear and concern among residents and families of the victims.
“The people of the area continue to hope for the safe return of their loved ones and a lasting solution to the security challenges.” Said a source from the state.
Kwara Residents Call on the Federal Government to Rescue Residents Captured in Woro as a Video of Abductees Surfaces Online
Five soldiers killed, three missing in clash with insurgents in Niger
By: Zagazola Makama
Five soldiers were killed and three others declared missing following a clash between Nigerien Defence and Security Forces (FDS) and suspected Islamic State fighters in Sanam, Tillabéri Region of western Niger.
Security sources said the incident occurred on Feb. 12, 2026, during a confrontation between troops and suspected members of the Islamic State in the Greater Sahara (EIGS) operating in the area.
The clash reportedly took place in Sanam Zone, a locality near the Niger–Mali border known for recurrent armed attacks by jihadist groups.
According to the sources, the soldiers were engaged in an operation when they came under heavy attack, leading to a standoff. Five personnel were confirmed dead, while three others were declared missing after the encounter.
The Tillabéri Region has remained a hotspot of insurgent activities due to its proximity to Mali and Burkina Faso, with security forces frequently conducting operations to contain armed groups.
Authorities are yet to release an official statement on the latest incident, while search efforts are reportedly ongoing to locate the missing soldiers.
Five soldiers killed, three missing in clash with insurgents in Niger
Army, police rescue 12 kidnapped victims in Ekiti border attack
By: Zagazola Makama
A Combined Army and Police operatives have rescued 12 kidnapped victims following an armed attack by suspected kidnappers in Oke-Ako area of Ekiti State.
Sources disclosed that the incident occurred on Feb. 13 at about 9:00 a.m., when sporadic gunfire was heard near their base. Preliminary assessment indicated the gunshots were from an assault launched by suspected kidnappers in the area.
Army troops, in collaboration RRS,Anti-Kidnapping Squad (AKS), and local security outfits, swiftly mobilised to the scene. On sighting the security forces, the attackers engaged in a gun duel, but were overpowered and forced to retreat into the forest, taking two victims with them.
Through intensified operations, the security forces successfully rescued 12 victims unhurt, while one, identified as Jeremiah Gambo, sustained a gunshot injury and was immediately rushed to a nearby hospital in Ikole Local Government Area for treatment.
The troops also recovered an unregistered Boxer Bajaj motorcycle, a white Nissan Cabstar pick-up with registration number EJG-96XB, and a wine-coloured Toyota Corolla with registration number KLE-575AE, all belonging to the victims.
Army, police rescue 12 kidnapped victims in Ekiti border attack
Kwara Residents Call on the Federal Government to Rescue Residents Captured in Woro as a Video of Abductees Surfaces Online
Senator Abubakar Kyari: A Renewed Hope for Nigeria’s Agricultural Revolution
Five soldiers killed, three missing in clash with insurgents in Niger
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