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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
Borno troops repel Boko Haram attack in Hawul, one killed
By: Zagazola Makama
Troops of Operation Hadin Kai have successfully repelled simultaneous attacks by ISWAP terrorists on Jihuhi and Harang villages in Hawul Local Government Area of Borno State, leaving one person dead.
Sources told Zagazola Makama that on Jan. 27 at about 1630 hours, the terrorists invaded the villages, firing indiscriminately and setting several houses ablaze.
The attack fatally injured Adamu Inusa, also known as Daddy, 35, a member of the Hunters Group in Hawul.
He was evacuated to General Hospital Hawul, where he was confirmed dead on arrival. His corpse has been deposited at the hospital mortuary and will be released to his family for Islamic burial after clearance operations in the affected communities.
A combined team of troops of Operation HADIN KAI, police tactical units, and local Civilian Joint Task Force (CJTF)/Hunters groups responded promptly, engaging the terrorists and successfully repelling the attack.
The area remains under close monitoring as security forces continue clearance and patrol operations.
Borno troops repel Boko Haram attack in Hawul, one killed
Security forces in Gombe arrest suspected cattle rustler, recover 50 sheep
By: Zagazola Makama
Gombe State Police Command has arrested a suspected cattle rustler and recovered 50 sheep following a distress call in Amada.
The report revealed that on Jan. 28 at about 8:22 p.m., a mob apprehended one Sani Jamilu, 25, of Sabon Kaura LGA, Katsina State, who was reportedly seen with a flock of sheep around Dolli and Shilto communities.
The second suspect, identified only as Lawali, escaped.
The injured suspect was rescued by police and taken to Amada Primary Health Clinic for medical attention.
Sources say Police have launched an investigation into the incident and efforts are ongoing to apprehend the fleeing suspect.
Security forces in Gombe arrest suspected cattle rustler, recover 50 sheep
How We Turned from Foes to Friends — Franco-German Envoys Share Lessons with Nigeria
By: Michael Mike
The Ambassadors of Germany and France to Nigeria have urged the country to draw lessons from decades of Franco-German cooperation, stressing that reconciliation, friendship, and shared responsibility are critical drivers of growth, stability, and regional integration.
German Ambassador Annett Günther and French Ambassador Marc Fonbaustier made the call on Wednesday in Abuja during events marking the 63rd anniversary of German-French Day, which commemorates the signing of the Élysée Treaty on January 22, 1963.
Speaking jointly, the envoys reflected on how France and Germany overcame centuries of rivalry and conflict to become close partners and allies after the Second World War.
They noted that the experience demonstrates that even the most hostile relationships can be transformed through sustained dialogue and political commitment.
“The history of reconciliation and European unification shows that no matter how dark the past may seem, a different future is possible,” the ambassadors said, adding that this message is particularly relevant for Nigeria and its partners. “We are stronger together — and stronger as friends.”
They explained that Franco-German cooperation is anchored in formal treaties that mandate continuous consultation between both countries at all levels, including heads of state, foreign ministers, and senior officials. This coordination, they said, now extends beyond Europe to global and African issues.
Fielding questions from journalists, the ambassadors pointed to Nigeria’s strategic role within West Africa, saying the country could apply similar principles to strengthen the Economic Community of West African States (ECOWAS).
Fonbaustier said stronger countries within a regional bloc have a responsibility to drive integration while supporting weaker members to ensure collective progress. “A union only succeeds when all its members move forward together,” he said, noting that unity should be based on shared development rather than narrow national interests.
He described Nigeria as the leading power within ECOWAS and encouraged it to continue playing a central role in promoting regional security, economic integration, and people-to-people exchange.
Günther also echoed these views, highlighting what she described as a “Franco-German reflex” of constant consultation and coordination. She said this habit of cooperation enables both countries to respond jointly to emerging challenges and align their diplomatic efforts, including in Africa.
They both stressed that the Franco-German journey from hostility to partnership offers valuable lessons for Nigeria and the African continent, particularly in fostering regional unity, managing diversity, and building long-term peace through cooperation.
How We Turned from Foes to Friends — Franco-German Envoys Share Lessons with Nigeria
Katsina police arrest gun runners, recover AK-47 magazines and ammunition
Borno troops repel Boko Haram attack in Hawul, one killed
Security forces in Gombe arrest suspected cattle rustler, recover 50 sheep
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