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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).

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Fadile Pays Tribute to Late CJN Mohammed Uwais, Describes Him as “My Father in the Judiciary.”

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Fadile Pays Tribute to Late CJN Mohammed Uwais, Describes Him as “My Father in the Judiciary.”

By: Michael Mike

The first military-trained lawyer with a PhD in International Law in Nigeria, Col. Bello Fadile (rtd), has mourned the passing of a stalwart, Justice Mohammed Lawal Uwais GCON, former Chief Justice of Nigeria (CJN), who passed on at the age of 89.

Fadile, a prominent figure and author, paid a heartfelt tribute yesterday to the late jurist, describing him as “My Father in the Judiciary.”

Fadile recounted the remarkable story of how Justice Uwais, then CJN, intervened on his behalf during his detention in 1995, braving the military regime to ensure his release.

The Nigerian Army’s first lawyer tribute highlighted Justice Uwais’s unwavering commitment to justice, humility, and integrity. He quoted Uwais’s powerful statement: “A corrupt judge is more harmful to society than a man who runs amok with a dagger in a crowded street.”

Part of the statement read: “At the ripe age of 89, he left us in this sinful world as Allah SWT willed. We accept the vadict as appeal lies nowhere. To we the immediate families, we pray to Allah SWT to give us the fortitude to carry on relying on the principles he lived on and left for us which are:- humility, impartiality, humane, love, detribalised, uprightness and fear of Almighty Allah SWT.

“And to the Nigerian judiciary which he dedicated his life to, i urge you all to follow his footsteps, which he captured brilliantly;
‘ A corrupt judge is more harmful to the society than a man who runs amok with a dagger in a crowded street. The latter can be restrained physically. But a corrupt judge deliberately destroys the moral foundation of society and causes incalculable distress to individuals through abusing his office while still being referred to as Honorable “

“ As captured in my book, Lives: The Bello Fadile Memoirs, I shall forever be grateful to MyLord, the Justice Mohammed Lawal Uwais GCON for the risk he took when I was arrested for the alleged fathom coup in 1995.”

Fadile who is the founder and chair of the Council for African Security Affairs, recounted how he was “detained near his house and I sent at note to him as the then CJN, without hesitation or fear of the military, his life or his job, he acted on my request and reached out Late Honorable Justice Karibi-Whyte and together they raised my detention with the Head of Military Government. And of course, they became my link to the Head of State, going and coming back with messages. What man with a lion heart.”

“On my release in March 1999. MyLord traveled from Abuja to Kaduna to see me. He came with clothes, bundles of sheda, and thousands of cash. That was my Father in the Judiciary for you. I was able to see him after 10 years in November 2024, and now he is no more.,” he added.

Fadile noted that late Justice Uwais’s legacy serves as a shining example for the Nigerian judiciary.

According to him, Justice Uwais’s remarkable life and contributions to Nigeria’s judiciary will be remembered for generations to come, adding that “his courage, integrity, and dedication to justice have left an indelible mark on the nation’s legal landscape”.

Fadile Pays Tribute to Late CJN Mohammed Uwais, Describes Him as “My Father in the Judiciary.”

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Alau Dam: Zulum, Shehu of Borno Plead with FG to Expedite Rehabilitation Work.

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Alau Dam: Zulum, Shehu of Borno Plead with FG to Expedite Rehabilitation Work.

By: Our Reporter

Borno State Governor, Professor Babagana Umara Zulum, has called on the Federal Government to accelerate the rehabilitation and expansion of the Alau Dam to avert a repeat of last year’s devastating flood disaster.

Maiduguri and surrounding local government areas experienced their worst flooding in decades following the collapse of the Alau Dam in 2024. In response, the Federal Government approved N80 billion for the dam’s reconstruction and expansion, with a groundbreaking ceremony held in March 2025 to mark the commencement of the project.

Governor Zulum while responding to a request by the Shehu of Borno, Dr. Abubakar Ibn Umar Garbai El-Kanemi, on the need to fast tract the project, during the traditional Sallah homage at the Government House in Maiduguri. The Governor expressed concern over the slow pace of work, warning that the rainy season has already begun.

“After the groundbreaking ceremony for the reconstruction and expansion of the dam, which we all attended, the truth is that the work is not progressing as expected,” Governor Zulum stated.

“The last time I visited the President, I informed him about the true state of the project, and I assure you that I will not relent. I will continue to follow up, and I have also notified the Vice President as well. In the meantime, the Secretary to the State Government (SSG) has constituted a committee to provide immediate intervention at the dam.”.

The governor pledged to connect all local government headquarters to the national grid before the end of his tenure. He also promised massive road rehabilitation once the Pulka quarry plant is completed.

“These are two critical issues dear to me, he said. I assure Your Royal Highness that all local government headquarters will be connected to electricity before my tenure expires, Insha Allah. Regarding road infrastructure, insecurity has been a major challenge, but we remain committed. We have procured 40 brand-new Howo tipper trucks, and once the Pulka quarry plant is completed, we will embark on extensive road rehabilitation across the state.”

Governor Zulum thanked the people of Borno for their continued support and cooperation to his administration.

Earlier, the Shehu of Borno, Dr. Abubakar ibn Umar Garbai El-Kanemi said the sallah homage has been part of the tradition during every festive season, acknowledging the unprecedented transformation the Zulum’s administration is executing across the state.

He emphasised the importance of expediting the Alau Dam project, noting that the first phase should have been completed by now. He referenced the recent flooding in Mokwa, Niger State, as a warning of what could recur in Borno if swift action is not taken.

“We witnessed the catastrophic flooding in Maiduguri on 10th September 2024, and we do not want a repeat, the Shehu said. The Federal Government must act immediately.”.

The royal father also urged the Governor to follow up with the Federal Government on oil exploration in Tuba, road rehabilitation, and electricity connectivity for local government areas.

During the event, Governor Zulum also received delegations from the University of Maiduguri, Kashim Ibrahim University, the University of Maiduguri Teaching Hospital, Kashim Ibrahim University Teaching Hospital, Federal Neuro-Psychiatric Hospital, and Federal Orthopaedic Hospital, Azare, who paid similar homage.

Alau Dam: Zulum, Shehu of Borno Plead with FG to Expedite Rehabilitation Work.

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Flooding: Zulum, Shehu of Borno Plead with FG to Expedite Rehabilitation Work on Alau Dam

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Flooding: Zulum, Shehu of Borno Plead with FG to Expedite Rehabilitation Work on Alau Dam

By: Michael Mike

Borno State Governor, Professor Babagana Zulum has called on the Federal Government to accelerate the rehabilitation and expansion of the Alau Dam to avert a repeat of last year’s devastating flood which nearly submerged Maiduguri and environs.

Maiduguri and surrounding local government areas experienced their worst flooding in decades following the collapse of the Alau Dam in 2024. In response, the Federal Government approved N80 billion for the dam’s reconstruction and expansion, with a groundbreaking ceremony held in March 2025 to mark the commencement of the project.

Zulum, while responding to a request by the Shehu of Borno, Dr. Abubakar Ibn Umar Garbai El-Kanemi, on the need to fast tract the project, during the traditional Sallah homage at the Government House in Maiduguri, the governor expressed concern over the slow pace of work, warning that the rainy season has already begun.

He said: “After the groundbreaking ceremony for the reconstruction and expansion of the dam, which we all attended, the truth is that the work is not progressing as expected.

“The last time I visited the President, I informed him about the true state of the project, and I assure you that I will not relent. I will continue to follow up, and I have also notified the Vice President as well. In the meantime, the Secretary to the State Government (SSG) has constituted a committee to provide immediate intervention at the dam.”.

Meanwhile, the governor has pledged to connect all local government headquarters in the state to the national grid before the end of his tenure. He also promised massive road rehabilitation once the Pulka quarry plant is completed.

He said: “These are two critical issues dear to me, I assure Your Royal Highness that all local government headquarters will be connected to electricity before my tenure expires, Insha Allah. Regarding road infrastructure, insecurity has been a major challenge, but we remain committed. We have procured 40 brand-new Howo tipper trucks, and once the Pulka quarry plant is completed, we will embark on extensive road rehabilitation across the state.”

Zulum thanked the people of Borno for their continued support and cooperation to his administration.

Earlier, the Shehu of Borno said the sallah homage has been part of the tradition during every festive season, acknowledging the unprecedented transformation the Zulum’s administration has extended to all parts of the state.

He reiterated the importance of expediting the Alau Dam project, noting that the first phase should have been completed by now.

He referenced the recent flooding in Mokwa, Niger State, as a warning of what could recur in Borno if swift action is not taken.

The paramount ruler said: “We witnessed the catastrophic flooding in Maiduguri on 10th September 2024, and we do not want a repeat.. The Federal Government must act immediately.”.

The royal father also urged the Governor to follow up with the Federal Government on oil exploration in Tuba, road rehabilitation, and electricity connectivity for local government areas.

During the event, Governor Zulum also received delegations from the University of Maiduguri, Kashim Ibrahim University, the University of Maiduguri Teaching Hospital, Kashim Ibrahim University Teaching Hospital, Federal Neuro-Psychiatric Hospital, and Federal Orthopaedic Hospital, Azare, who paid similar homage.

Flooding: Zulum, Shehu of Borno Plead with FG to Expedite Rehabilitation Work on Alau Dam

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