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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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Troops rescue five kidnap victims, repel attack on commuters near enugu

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Troops rescue five kidnap victims, repel attack on commuters near enugu

By: Zagazola Makama

Troops deployed at 9th Mile in Enugu State have rescued five kidnapped victims after repelling an attack on commuters by suspected armed criminals.

Security sources said the incident occurred at about 6:55 p.m. on Feb. 20 when the troops responded to a distress call indicating that assailants had attacked travellers heading towards Anambra State.

On arrival at the scene, the troops engaged the attackers in a gun duel, forcing them to abandon the victims and flee into nearby surroundings.

The sources disclosed that five kidnapped persons were successfully rescued during the operation, while the vehicle used by the victims was also recovered.

It was gathered that the troops expended 11 rounds of 7.62mm special ammunition during the encounter.

Security authorities said patrols had been intensified in the area to deny the criminals freedom of action and to forestall further attacks on commuters.

They added that the situation was under control, while surveillance and domination patrols were ongoing.

Troops rescue five kidnap victims, repel attack on commuters near enugu

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Zulum meets 56 state-sponsored doctors, approves training fund, others

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Zulum meets 56 state-sponsored doctors, approves training fund, others

By: Our Reporter

Borno State Governor, Professor Babagana Umara Zulum, has approved a special training fund for the 56 medical doctors currently undergoing residency training under the state’s sponsorship.

The governor granted the approval during an interactive meeting with the resident doctors at the Government House in Maiduguri on Thursday. 

The meeting was convened at the governor’s instance to assess the progress of the doctors’ training and address any challenges hindering their seamless progression in their various places of primary assignments.

Beyond approving the training fund, Zulum also approved the immediate implementation of promotional benefits for all resident doctors due for career progression. 

He directed that the promotions be implemented with immediate effect and that all arrears be paid to the beneficiaries, dating back to the effective date of their promotions.

The governor also directed the Borno State Hospital Management Board to organise a similar interaction with other medical doctors in the state who are not undergoing residency training.

He reiterated that the welfare of all health workers in the state remained a top priority for his administration, stressing that a motivated workforce is essential for delivering quality healthcare services to the people of Borno.

“My administration is committed to creating an enabling environment for our health professionals. We understand that without their dedication, we cannot achieve the needed health coverage we desire for our citizens,” the governor stated.

The meeting was attended by key stakeholders in the health sector, including the Commissioner for Health, Professor Baba Mallam Gana; the chairman of the State Hospital Management Board, Dr Joseph Jatau; and the Chief Medical Director, Professor Abubakar Kullima.

Also in attendance were the acting Chief of Staff, Dr Babagana Mustapha Mallumbe; the Chief Adviser to the Governor, Dr Mairo Mandara, the Executive Director, Borno State Primary Healthcare Development Board, Professor Arab Alhaji Mohammed and the Chief Medical Director of the Kashim Ibrahim University Teaching Hospital, Prof. Ibrahim Musa Kida.

Zulum meets 56 state-sponsored doctors, approves training fund, others

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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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