VP Shettima Inaugurates Debt Management Board to Strengthen Fiscal policy

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Lagos, Nigeria – Vice President Kashim Shettima has inaugurated the Supervisory Board of the Debt Management Office (DMO) as part of the Federal Government’s efforts to enhance fiscal and monetary policy coordination. Speaking at the Presidential Villa, Shettima, who also chairs the Board, emphasized the need for a strategic approach to public debt management, aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda.

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He noted that Nigeria must utilize public debt as a tool for infrastructure development, economic growth, and poverty reduction, while ensuring long-term debt sustainability.

Shettima highlighted that responsible borrowing, when properly managed, can serve as an asset rather than a liability, reinforcing the administration’s commitment to fiscal discipline and economic stability. He commended President Tinubu’s economic reforms, as well as the efforts of the Minister of Finance, Wale Edun, and the DMO leadership in managing Nigeria’s sovereign debt portfolio.

The Vice President also praised Nigeria’s recent $2.2 billion Eurobond issuance, noting its oversubscription as a sign of global investor confidence in the country’s economy.

The newly inaugurated Board includes Finance Minister Wale Edun (Vice Chairman), Attorney General Lateef Fagbemi, CBN Governor Olayemi Cardoso, Special Adviser Dr. Tope Fasua, Accountant-General Dr. Oluwatoyin Sakirat Madein, and DMO Director-General Patience Oniha (Secretary).

The Board is tasked with formulating policies and regulations to ensure Nigeria’s debt remains sustainable, reinforcing stronger coordination between fiscal and monetary policies to drive economic resilience.