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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
Troops Ambush Terrorist Logistics Suppliers, Recover Items in Borno
By: Zagazola Makama
Troops of Operation HADIN KAI have foiled an attempt by suspected terrorist logistics suppliers along the Ngoshe–Ashigashiya road in Gwoza Local Government Area of Borno State.
Security sources said the troops of 82 Division Task Force Battalion, deployed at Ngoshe, laid an ambush at a known crossing point along the route at about 2:20 a.m. on April 24.
The sources said the troops made contact with suspected Boko Haram/ISWAP logistics suppliers conveying items to terrorist elements and engaged them with disciplined fire.
The suspects were forced to abandon the items and fled in disarray.
Items recovered during exploitation of the area include 10 pairs of women’s slippers, 28 sachets of 500g salt, 39 sachets of powdered milk, a motorcycle tube, a pair of joggers, two pieces of clothing materials measuring 10 yards each, two one-litre containers of engine oil and a black shirt.
The sources said no casualty was recorded on the side of the troops, while casualties on the part of the fleeing suspects could not be immediately ascertained.
They added that the troops returned to base at about 6:00 a.m. after completing the operation.
According to the sources, the general security situation across the theatre remains calm but unpredictable, while troops’ morale and combat efficiency remain high.
Troops Ambush Terrorist Logistics Suppliers, Recover Items in Borno
Troops Repel Terrorist Infiltration in Kanama, Neutralise Four Insurgents
By: Zagazola Makama
Troops of Operation HADIN KAI have repelled a Boko Haram/ISWAP terrorist infiltration into Kanama town, neutralising four insurgents during a swift response operation in Borno State.
Security sources said the incident occurred at about 6:00 p.m. on April 22 when troops of 159 Battalion, deployed in Kanama, responded to sounds of gunfire within the town.
On arrival, the troops reportedly discovered that terrorists had infiltrated parts of the community.
The troops immediately made contact and engaged the attackers with disciplined fire, forcing them to retreat in disarray.
Subsequent exploitation of the general area led to the neutralisation of four terrorists.
One member of the Civilian Joint Task Force (CJTF) sustained injuries during the encounter and has been evacuated for medical attention.
No military equipment was lost during the operation.
Items recovered from the terrorists include two torchlight mobile phones and the sum of ₦21,000.
Security sources said the general situation across the theatre remains calm but unpredictable, while troops’ morale and fighting efficiency remain high.
Troops Repel Terrorist Infiltration in Kanama, Neutralise Four Insurgents
Troops Neutralise ISWAP Shura Member Abu Jirir in Yobe
By: Zagazola Makama
Troops of Operation HADIN KAI have neutralised a prominent member of the ISWAP Shura Council during an operation in Yobe State.
Security sources said the development was confirmed at about 6:12 p.m. on April 22 following intelligence reports that the senior terrorist figure, identified as Abu Jarir, was eliminated by troops in the Babangida area.
According to the sources, the neutralisation is considered a significant blow to the terrorist leadership structure in the Lake Chad region.
The sources further disclosed that the overall ISWAP commander in the Lake Chad axis, identified as Ba Shuwa, reportedly dispatched a team to recover the body of the slain commander on the same day.
The search party was said to have been sighted moving on about 12 motorcycles around the Aljanna Jaule area.
Further details on the operation are expected as exploitation continues.
Troops Neutralise ISWAP Shura Member Abu Jirir in Yobe
Troops Ambush Terrorist Logistics Suppliers, Recover Items in Borno
Troops Repel Terrorist Infiltration in Kanama, Neutralise Four Insurgents
Troops Neutralise ISWAP Shura Member Abu Jirir in Yobe
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