- VP Shettima inaugurated the DMO Supervisory Board, emphasizing that prudent debt management can drive economic growth and reduce poverty in Nigeria
- He urged the board to formulate policies that ensure long-term debt sustainability, aligning with President Tinubu’s Renewed Hope Agenda
Vice-President Kashim Shettima has inaugurated the Supervisory Board of the Debt Management Office (DMO) to enhance fiscal and monetary policy coordination.
He stated that this initiative aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, ensuring long-term debt sustainability.
During the board meeting on Wednesday at the Presidential Villa, Shettima, who also serves as the board chairman, urged members to adopt a strategic approach to public debt management.
He emphasized that debt should drive economic growth and poverty reduction, noting that Nigeria must leverage public debt for infrastructure development and economic advancement.
“With prudent management, debt can become an asset for economic growth and poverty reduction. Our focus must be on formulating policies, regulations, and guidelines for the DMO to ensure long-term debt sustainability,” he said.
Shettima highlighted that this approach supports President Tinubu’s Renewed Hope Agenda, prioritising fiscal discipline, economic stability, and sustainable development.
He further stressed that borrowing, when managed wisely, could act as a catalyst for growth rather than a financial burden.
“As we all know, when prudently utilized, public debt becomes a tool for economic growth and poverty reduction. However, recent economic realities necessitate stronger coordination between fiscal and monetary policies,” he concluded.
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