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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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Army troops rescue 11 kidnapped victims in Kaduna

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Army troops rescue 11 kidnapped victims in Kaduna

By: Zagazola Makama

Troops of 1 Division of the Nigerian Army have rescued 11 kidnapped victims in Kachia Local Government Area of Kaduna State following a coordinated operation along the Kaduna–Abuja road axis.

Security sources told Zagazola Makama that the rescue was carried out late on Jan. 26 after troops deployed at a Forward Operating Base (FOB) in Doka, after sighted armed terrorists moving with captives along a bush track between Gidan Duna and Amale in Kachia LGA.

According to the sources, the troops immediately mobilised and pursued the suspects.

“On sighting the approaching security vehicles and motorcycles, the terrorists abandoned the victims and fled into the surrounding bush.

The troops secured the victims and fired probing shots in the general area, but no further contact was made,” the sources said.

The sources added that a total of 11 victims were rescued, comprising five adult males, three females and three children.

The rescued persons reportedly told the troops that they were kidnapped from Gada Mallam Maman community in Kachia LGA on Oct. 26, 2025.

The victims were subsequently conveyed back to their community and reunited with their families.

Security operations and patrols have been intensified in the area to prevent further attacks and track down the fleeing suspects, the sources said.

Army troops rescue 11 kidnapped victims in Kaduna

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The Borno State Government to Repatriate over 3,000 Refugees from Cameroon after 11 Years

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The Borno State Government to Repatriate over 3,000 Refugees from Cameroon after 11 Years

By: Our Reporter

Borno State Government has finalised arrangements for the voluntary repatriation of more than 3,000 Nigerian refugees from Cameroon republic to their ancestral homes after 11 years.

This is in fulfillment of Borno State Governor, Professor Babagana Umara Zulum’s commitment to repatriate and resettle all Nigerian refugees from Borno who are sheltering in neighboring Chad, Cameroon and Niger republics.

The operation is being conducted with the support of the National Commission for Refugees, Migrants and Internally Displaced Persons.

Chairman Borno State Sub-Committee on Repatriation and member of the Presidential Committee on Repatriation, Engineer Lawan Abba Wakilbe, on Monday met with a Government delegation from Cameroon’s Far North Region and officials of the United Nations High Commissioner for Refugees (UNHCR) at the Minawao Refugee Camp in Maroua.

The purpose of the meeting was to finalise logistical and other arrangements to ensure the refugees’ safe and dignified return.

During a visit to the camp in December 2025, Governor Zulum assured refugees willing to return that they would do so in a safe and dignified manner, marking a new chapter for families displaced by insurgency over 11 years ago.

The refugees, predominantly from communities in central and southern Borno, fled to Cameroon more than 11 years ago during the peak of the insurgency, which devastated villages, displaced families, and disrupted socio-economic life across the North-East.

During their stay, Cameroonian authorities and humanitarian partners provided shelter, healthcare, education, and other essential services. Many refugees were also allocated farmland to support agricultural activities, reducing aid dependency and allowing them to sustain their families with dignity.

With improved security in several parts of Borno and ongoing state-led reconstruction efforts, many refugees have expressed their readiness to return home voluntarily.

The Borno State Government has already provided buses and other logistical support for the movement of the refugees while the National Commission for Refugees will oversee and coordinate the repatriation mission in collaboration with Cameroonian authorities and humanitarian agencies.

“This is the fourth phase, which began in 2020. The process is going on smoothly in accordance with the tripartite and technical working group agreements,” Engr. Wakilbe stated.

“His Excellency, Governor Zulum, was here on 8 December 2025 and made commitments. As soon as they return home, all commitments will be fulfilled,” he assured.

In a related development, Engineer Wakilbe led a high-level delegation to the office of the Governor of Cameroon’s Far North Region, Midjiyawa Bakari.

During their meeting, Governor Bakari commended the Borno State Government for sustaining the longstanding and cordial bilateral relationship, noting that cooperation between the two countries has been instrumental in ensuring the protection, welfare, and orderly return of displaced persons across the border.
End

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Three soldiers killed in IED attack near Niamey, says Niger army sources

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Three soldiers killed in IED attack near Niamey, says Niger army sources

By: Zagazola Makama

At least three Nigerien soldiers were killed and 10 others injured on Sunday after an army patrol vehicle hit an improvised explosive device (IED) in Bartchawal, Tillabéri Region, about 20 kilometres from the capital, Niamey.

Sources said that the incident occurred late in the day along the Niamey–Filingué road axis when the patrol was returning from routine operations in the area.

According to the sources, the IED detonated as the military convoy passed, killing three soldiers on the spot and injuring 10 others, who were evacuated to medical facilities in Niamey for treatment.

The attack was later claimed by the Jama’at Nasr al-Islam wal Muslimin (JNIM), a jihadist group affiliated with Al-Qaeda, in a statement released on Monday.

“This is the first attack claimed by JNIM in this area so close to the capital,” the sources noted.

They added that the Nigerien Armed Forces had reinforced security along the Niamey–Filingué corridor, with additional patrols and surveillance measures deployed to prevent further attacks and reassure residents.

Tillabéri Region, in western Niger, has in recent years faced persistent security challenges linked to insurgent activities spilling over from the tri-border area of Niger, Mali and Burkina Faso.

Three soldiers killed in IED attack near Niamey, says Niger army sources

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