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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 Foil Kidnap Attempt, Rescue Gunshot-Wounded Victim in Plateau
By: Zagazola Makama
Troops of Operation Enduring Peace (OPEP) have foiled a suspected kidnapping attempt and rescued a gunshot-wounded victim along the Rafin Sanyi axis in Riyom Local Government Area of Plateau State.
Security sources told Zagazola Makama that troops of Sector 6 OPEP, deployed at Sopp, responded to a distress report at about 9:40 p.m. on Nov. 6, 2026, after suspected kidnappers blocked the road in the area.
The swift intervention of the troops reportedly forced the criminals to flee before they could carry out their operation.
The troops subsequently combed the area and rescued one occupant of a Sharon vehicle who had sustained a gunshot wound.
The victim was evacuated to the Nigerian Army Medical Outpost at Tigi, where he received first aid treatment.
Troops have continued to dominate the general area through fighting patrols to prevent the criminals from regrouping and forestall further attacks.
Troops Foil Kidnap Attempt, Rescue Gunshot-Wounded Victim in Plateau
Troops Raid Jos Hotel, Arrest Five Suspects Over Phone Snatching, Recover 26 Phones
By: Zagazola Makama
Troops of Operation Enduring Peace (OPEP) have raided a hotel along Baring Road in Jos North Local Government Area of Plateau State, arresting five suspected criminals and recovering 26 mobile phones and other items.
Security sources told Zagazola Makama that troops of Sector 1 OPEP, while on patrol, responded to a report of phone snatching at about 9:00 p.m. on Nov. 6, 2026.
Following the incident, the stolen phone was reportedly tracked to Prime House Hotel within the area, prompting the troops to conduct a raid on the facility.
The operation led to the arrest of five suspects identified as Tahir Suleiman, 25; Muhammed Ahmed, 25; Muhammed Labaran Haruna, 27; Yahya Yunusa, 20; and Aisha Mohammad, 22.
The suspects were reportedly found in possession of the tracked phone, while a further search led to the recovery of 26 mobile phones, 27 pouches, three MP devices, two earpods, an HP laptop, a knife and four power banks.
The vehicle belonging to the suspects was also towed to the headquarters of Sector 1 for a comprehensive search.
The suspects and recovered exhibits remain in custody for further investigation and necessary action.
Troops Raid Jos Hotel, Arrest Five Suspects Over Phone Snatching, Recover 26 Phones
Troops Rescue 119 Civilians, Recover Eight Vehicles from Terrorists in Borno
By: Zagazola Makama
Troops of the Nigerian Army have rescued 119 civilians, including women and children, and recovered eight vehicles after confronting terrorists who blocked a major road and abducted travellers in Borno State.
Security sources told Zagazola Makama that the operation was conducted at about 3:45 p.m. on Nov. 6, 2026, by troops of 135 Special Forces Battalion, 27 Task Force Brigade, Sector 2, while conducting surveillance along the Dutsen Kura–Bulazarma–Kamuya road.
The troops reportedly sighted terrorists blocking the road and abducting civilians alongside their vehicles, prompting the mobilisation of the battalion’s Special Forces Quick Reaction Force and another QRF team from 27 Task Force Brigade headquarters.
The teams moved through the Mangari–Dora route, pursued and engaged the terrorists, forcing them to abandon the abducted civilians and vehicles in confusion.
The operation led to the rescue of 119 civilians comprising 69 men, 35 women and 15 children, while eight vehicles were also recovered.
The rescued victims were subsequently reunited safely with their families.
However, during the withdrawal, troops discovered an improvised explosive device (IED) around the Bam Buratai Junction–Bula Zarma general area.
The unit’s Explosive Ordnance Disposal (EOD) team marked and secured the location for safe disposal of the device.
The troops returned to base at about 7:36 p.m. the same day.
Troops Rescue 119 Civilians, Recover Eight Vehicles from Terrorists in Borno
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