Vice President Kashim Shettima has emphasized the importance of using public debt as a strategic tool for economic growth, poverty reduction, and the development of critical infrastructure in Nigeria. Shettima made this statement on Wednesday in Abuja while inaugurating the Supervisory Board of the Debt Management Office (DMO). The initiative is part of the Federal Government’s efforts to strengthen fiscal and monetary policy coordination and ensure long-term debt sustainability, in line with President Bola Tinubu\u2019s Renewed Hope Agenda.<\/p>\n
During his address at the maiden meeting of the Board, which took place at the State House, Shettima, who also serves as Chairman of the Board, urged members to adopt a more strategic approach to managing Nigeria\u2019s public debt. He noted that with prudent management, public debt could be transformed into an asset that drives economic growth and poverty alleviation.<\/p>\n
\u201cAs you all know, public debt, if prudently applied, becomes an asset for economic growth and poverty reduction,\u201d Shettima said. \u201cOur goal must be to formulate policies, regulations, and guidelines for the DMO, aimed at achieving long-term debt sustainability for our country.\u201d<\/p>\n
The Vice President\u2019s remarks align with President Tinubu\u2019s Renewed Hope Agenda, which prioritizes fiscal discipline, economic stability, and sustainable development. Shettima highlighted the importance of a well-coordinated fiscal and monetary policy framework to enable Nigeria to effectively leverage borrowing for growth.<\/p>\n
He also commended President Tinubu for his dedication to reforming Nigeria\u2019s economy, as well as the Minister of Finance and the Coordinating Minister of the Economy, Wale Edun, for their unwavering efforts in managing the nation\u2019s sovereign debt portfolio.<\/p>\n
The Vice President further highlighted Nigeria\u2019s recent success in the global financial market, particularly the $2.2 billion double-tranche Eurobond issuance. He described the over-subscription of the bonds as a clear sign of investor confidence in Nigeria\u2019s economy.<\/p>\n
\u201cI congratulate the leadership of the Ministry of Finance, the Coordinating Minister of the Economy, and the DMO management for their exceptional efforts in handling our sovereign debt portfolio,\u201d Shettima stated.<\/p>\n
The Supervisory Board, led by Shettima, includes several key members, including the Minister of Finance and Coordinating Minister of the Economy, Wale Edun (Vice Chairman); the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi; Special Adviser to the President on Economic Matters, Dr. Tope Fasua; Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso; Accountant-General of the Federation, Dr. Oluwatoyin Sakirat Madein; and Director-General of the DMO, Patience Oniha (Secretary).<\/p>\n","protected":false},"excerpt":{"rendered":"
Vice President Kashim Shettima has emphasized the importance of using public debt as a strategic tool for economic growth, poverty reduction, and the development of critical infrastructure in Nigeria. Shettima made this statement on Wednesday in Abuja while inaugurating the Supervisory Board of the Debt Management Office (DMO). The initiative is part of the Federal […]<\/p>\n","protected":false},"author":3,"featured_media":3449,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"","_seopress_titles_desc":"Vice President Kashim Shettima urges prudent use of public debt to support Nigeria's economic growth and poverty reduction.","_seopress_robots_index":"","footnotes":""},"categories":[35],"tags":[],"class_list":["post-7029","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/posts\/7029"}],"collection":[{"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/comments?post=7029"}],"version-history":[{"count":1,"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/posts\/7029\/revisions"}],"predecessor-version":[{"id":7032,"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/posts\/7029\/revisions\/7032"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/media\/3449"}],"wp:attachment":[{"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/media?parent=7029"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/categories?post=7029"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/tags?post=7029"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}