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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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Zulum commissions remodelled ‘2nd chance school’ for vulnerable girls

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Zulum commissions remodelled ‘2nd chance school’ for vulnerable girls

.Disburses N1bn to SMEs in 5 LGAs

By: Our Reporter

Borno State Governor, Professor Babagana Umara Zulum, on Thursday commissioned a fully remodelled “Second Chance School” for vulnerable girls and women in Biu Local Government Area.

The newly inaugurated facility is part of a strategic initiative designed to offer adult women, including those who missed formal education or dropped out of school due to prevailing challenges, a pathway to self-reliance. 

The school’s curriculum is tailored towards providing comprehensive skills’ acquisition, critical digital knowledge and basic literacy, and numeracy training.

With the Biu centre now operational, Zulum’s administration has established three such schools across the state, with existing centres already operational in Maiduguri and Bama.

Meanwhile, Governor Zulum has disbursed N1 billion to small and medium-scale enterprises (SMEs) across five local government areas in southern Borno.

The targeted LGAs include Biu, Hawul, Shani, Bayo and Kwaya-Kusar, with the funds intended to support entrepreneurs and enhance business sustainability.

Zulum explained that the direct injection of capital into the SME sector is essential for driving grassroots development and fostering self-reliance in the post-insurgency recovery phase.

In a related development aimed at tackling youth restiveness and promoting social stability, Governor Zulum has ordered immediate employment of 200 young individuals from the Biu Local Government Area. 

After the inauguration, Zulum visited Biu Specialist Hospital where he announced the immediate and automatic employment of a number of dedicated volunteer health workers who have served tirelessly.

He also inspected the 100-unit teachers’ housing estate under construction in Biu town. The estate is part of the Borno State Government’s motivational strategy to attract and retain qualified teaching professionals in public schools.

Governor Zulum has also directed immediate commencement of rehabilitation work on the Borno State Hotel Annexe in Biu.

Zulum commissions remodelled ‘2nd chance school’ for vulnerable girls

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Environment Minister Calls for Inter-Agency Collaboration to Address Environmental Challenges

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Environment Minister Calls for Inter-Agency Collaboration to Address Environmental Challenges

By: Michael Mike

The Minister of Environment, Balarabe Abbas Lawal, has urged enhanced inter-agency collaboration to tackle environmental challenges across Nigeria.

The call was made during a meeting with the Director-General of the National Hydro-Electric Power Producing Areas Development Commission (N-HYPPADEC), Abubakar Sadiq, and his team at the Ministry’s Abuja office.

Highlighting potential areas of cooperation, Lawal emphasized the importance of climate-resilient water supply and sanitation (WASH) programs aimed at ensuring year-round access to safe, reliable, and clean water in communities affected by dam operations. He noted that such collaboration would not only improve access to safe drinking water but also reduce the prevalence of water-borne diseases in these areas.

On energy initiatives, the Minister discussed the distribution of clean cooking stoves to households in hydro-basin communities, stressing that this would significantly reduce household energy poverty, deforestation, and emissions through the adoption of energy-efficient cooking technologies.

Other proposed collaboration areas between the Ministry and N-HYPPADEC include erosion and flood management, ecosystem restoration, climate-resilient afforestation programs, youth and community engagement, job creation, and public awareness campaigns.

In his remarks, Abubakar Sadiq described N-HYPPADEC as a strategic partner of the Federal Ministry of Environment, outlining the commission’s impactful interventions across water supply, sanitation, housing, youth empowerment, water transport safety, and institutional strengthening. He also commended the Ministry for its prompt response to flood-prone areas, erosion challenges, and pollution management.

N-HYPPADEC maintains offices in Lokoja, Birnin Kebbi, Ilorin, Lafia, Jos, Gombe, Jalingo, Makurdi, Kaduna, with its headquarters in Minna, Niger State.

Environment Minister Calls for Inter-Agency Collaboration to Address Environmental Challenges

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Health Worker Exodus Deepens as Policy Brief Warns of Systemic Risk to Nigeria’s Healthcare Sector

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Health Worker Exodus Deepens as Policy Brief Warns of Systemic Risk to Nigeria’s Healthcare Sector

By: Michael Mike

A new policy brief has warned that unless urgent welfare-focused reforms are implemented, the country risks a deepening crisis that could undermine access to quality healthcare nationwide.

Nigeria’s healthcare system is facing mounting pressure as the steady departure of doctors and nurses continues to erode service capacity, raising concerns about long-term system viability.

According to the policy analysis authored by health policy expert Dr Emmanuel Ejimonu, of the Athena Centre for Policy and Leadership, more than 42,000 nurses left Nigeria between 2021 and early 2024, while thousands of Nigerian-trained doctors have registered to practise abroad, particularly in the United Kingdom. The trend shows no sign of slowing, as survey data cited in the report indicate that nearly three-quarters of medical and nursing students intend to seek employment overseas, with about one in three expressing no plans to return.

The report attributed the exodus largely to domestic welfare and governance challenges rather than professional ambition. Health workers interviewed consistently pointed to low and irregular salaries, unsafe and overstretched working environments, limited opportunities for funded specialist training and weak social protection systems. These challenges, the brief notes, have made emigration a rational choice in the face of institutional uncertainty, especially as global demand for health professionals continues to rise.

Although the Federal Government introduced a National Policy on Health Workforce Migration in 2023 to promote ethical recruitment and retention, the brief argues that its impact has been limited. Implementation gaps, inadequate funding and uneven execution at state and facility levels have prevented the policy from delivering meaningful improvements in working conditions.

The consequences of sustained health worker losses are already visible. Teaching hospitals are reportedly struggling to maintain specialist training and mentorship programmes, while recurring strikes highlight growing mistrust between health workers and government authorities. Economically, the country is losing returns on public investments in training, even as staff shortages compromise care delivery in both urban and rural facilities. Remaining workers also face rising burnout, further fuelling migration intentions.

Drawing on international experiences from countries such as Ghana, Kenya, the Philippines and Cuba, the policy brief stresses that health worker migration cannot be completely stopped. Instead, it recommends managing mobility through welfare-based retention strategies and credible governance structures.

Central to the recommendations is a proposed Welfare-First Retention Package, which prioritises guaranteed and timely payment of salaries, improved workplace safety, funded career progression, fair bonding arrangements and strengthened social protection. The package also calls for disciplined use of bilateral agreements and ethical recruitment frameworks to protect Nigeria’s investment in health worker training.

The brief estimates that, if properly funded and implemented, the proposed measures could reduce short-term health worker attrition by up to one-third within two years, while significantly improving retention over a five-year period.

The report stated that reversing the health workforce crisis will require treating welfare reform as a core economic and governance priority, backed by political will, fiscal discipline and strong institutional coordination. Without such action, the report warns, Nigeria risks the gradual hollowing out of its healthcare system, with far-reaching consequences for public health and national development.

Health Worker Exodus Deepens as Policy Brief Warns of Systemic Risk to Nigeria’s Healthcare Sector

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