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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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Ebizi Unreliable, Adulterous Conduct Modelling Around Lokpobiri Over Deputy Office – Kolga Group Alleges

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Ebizi Unreliable, Adulterous Conduct Modelling Around Lokpobiri Over Deputy Office - Kolga Group Alleges

Ebizi Unreliable, Adulterous Conduct Modelling Around Lokpobiri Over Deputy Office – Kolga Group Alleges

The Kolga Youth Progressive Alliance has raised perturbing concerns of Mrs Ebizi Brown Ndiomu, member representing Sagbama Constituency || desperateness for consideration as Deputy Governor of Bayelsa State.

The state lawmaker rumoured for possible nomination, consideration for the replacement of the departed deputy governor, has been modelling around the Honorable Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri in Abuja.

A statement issued on Friday by the group spokesman, Comrade Tony Alazigha, the group described Mrs Ebizi Brown adulterous demeanor to be ascribed as desperate measures for consideration, and replacement of the departed deputy governor.

According to the group, Ebizi who shares a good working relationship with the Governor, Senator Douye Diri had ought to concentrate on the established relationship with the governor rather than adulterously running around Heineken Lokpobiri.

The adulterous, scandalous conduct of the honorable member modelling around politicians for consideration of the office of the deputy governor, will dent the image and reputation of the governor and the government.

The group spokesman demanding the general public to be watchful, stated that Kolga leaders who are relations to Mrs Ebizi Brown, are the people desperately pushing for the nomination of the lawmaker to deputize the Governor, Senator Diri.

He said the Kolga leaders pushing for Mrs Ebizi nomination as deputy, are leaders whom Governor Douye Diri has munificently made billions, but not satisfied because they want to control the government, and the leadership structure of the state.

The group cautioned Senator Douye Diri to dismiss the consideration of the Sagbama lawmaker for the replacement of the departed deputy governor, Mr Lawrence Ewhrudjakpo.

“The office of the deputy governor demands capacitated individual of reliability, trustworthy, hardworking, resourcefulness, competence, and not adulterous character displayed by the lawmaker from Sagbama.

“Is it the honorable minister working for governorship ambition that will nominate her or the governor whom she share good working relationship.

“Even in Sagbama local government area, there more competent, reliable individuals working closely with the governor that are worthy to deputize Governor Diri, and definitely not adulterous, unreliable Ebizi Brown.

The group urged Senator Diri to look inward in Sagbama for competent, dependable, trustworthy individual that will prioritize Bayelsans before personal interest to deputize him.

Ebizi Unreliable, Adulterous Conduct Modelling Around Lokpobiri Over Deputy Office – Kolga Group Alleges

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Zulum okays N12.9b to sponsor Borno indigenes on aeronautics/engineering degrees

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Zulum okays N12.9b to sponsor Borno indigenes on aeronautics/engineering degrees

By: Our Reporter

Borno State Governor, Professor Babagana Umara Zulum, has approved a N12.9 billion scholarship scheme to sponsor 54 indigenes of the state to study aeronautics and engineering with various professional certifications, at the Isaac Balami University of Aeronautics and Management (IBUAM).

The training programme covers basic pilot training, with 10 beneficiaries specialising in Aerospace Engineering, 11 in Electrical and Electronic Engineering, 11 in Mechatronics Engineering, 12 in Software Engineering, and 10 in Systems Engineering.

At a brief ceremony held at the Government House in Maiduguri on Thursday night, Zulum presented a cheque for N2.5 billion to the institution, covering the annual tuition and associated expenses, with the 5-year total package valued at N12.9 billion.

Addressing the beneficiaries, Zulum charged them to remain focused and dedicated to their studies. He emphasised that the selection process was deliberately designed to ensure equity across the state, with two students chosen from each of Borno’s 27 Local Government areas.

“What matters most is not just gaining admission, but how focused you will be in your studies. I advise you to remain dedicated and become good ambassadors of our state,” the governor stated.

In addition to funding their education, the governor announced an immediate financial support package of N500,000 per student to cover resumption logistics and other incidental expenses.

Giving an overview of the selection process, the State Commissioner for Education, Engr. Lawan Abba Wakilbe revealed that the scholarship attracted interest from across the state. He disclosed that the ministry received over 3,000 applications.

According to the Commissioner, this large pool was initially shortlisted to 1,200 candidates, who were then subjected to a written examination, and the final 54 successful candidates emerged.

“These programmes reflect Governor Zulum’s commitment to human capital development, youth empowerment and investment in education,” Engr Wakilbe said.

The founder of IBUAM, Isaac Balami, an indigene of Borno State, commended Governor Zulum for the initiative. He assured the government that the students would receive world-class training, expressing confidence that they would be among those who would eventually build the first made-in-Nigeria aircraft.

Zulum okays N12.9b to sponsor Borno indigenes on aeronautics/engineering degrees

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Zulum Present as INEC Monitors APC Ward Congress in Mafa Ward

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Zulum Present as INEC Monitors APC Ward Congress in Mafa Ward

By: Our Reporter

Borno State Governor, Professor Babagana Umara Zulum, on Thursday, travelled to Mafa to witness the All Progressives Congress (APC) ward congresses.

Zulum, who was accompanied by APC’s Deputy National Chairman, Ali Bukar Dalori, Senator Kaka Shehu Lawan, Hon Mohammed Jaha (Babawo), and the Speaker of Borno State House of Assembly, expressed satisfaction with the seamless and orderly conduct of the process.p

The governor’s entourage also comprises the APC State Chairman, Bello Ayuba, Senator Baba Kaka Bashir Garbai, among other senior party executives.

Party members across Mafa ward converged to elect new executives. The exercise, which was held simultaneously across the 312 wards in Borno State, was conducted by consensus to ensure unity and harmony within the party.

Borno State Commissioner for Health, Professor Baba Mallam Gana, chaired the ward congress committee, while the Mafa Local Government Electoral Officer of the Independent National Electoral Commission (INEC), Salihu Muktari, monitored the exercise.

Addressing party faithful shortly after the conclusion of the exercise at Mafa, Zulum expressed gratitude for the peaceful atmosphere. He commended the party’s national leadership for deploying a competent team to oversee the process.

“I am happy with the smooth conduct of this exercise. There was no rancour, no bitterness, and that is the spirit of the APC family. I want to commend the committee sent by the APC national headquarters for their diligence and fair play,” Governor Zulum stated.

The governor also lauded party stakeholders and members in Mafa for their maturity and commitment to the party’s internal democracy, urging the newly elected ward executives to see their emergence as a call to service.

“To the new executives, this is not about personal glory but about taking the party to greater heights at the grassroots. You are the closest to the people, and you must work to unite our members and strengthen our structure,” he added.

The All Progressives Congress (APC) Ward/Local Government Congresses Screening Committees, Screening Appeals Committees, as well as the Ward/LGA Congresses (election) and Congresses Appeal Committees members, headed by Prophet Jones Erue, were also in Mafa to observe the conduct of the exercise.

Zulum Present as INEC Monitors APC Ward Congress in Mafa Ward

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