Vice President Kashim Shettima has inaugurated the Supervisory Board of the Debt Management Office (DMO), reinforcing the Federal Government’s commitment to fiscal discipline, monetary policy coordination, and long-term debt sustainability in line with President Bola Tinubu’s Renewed Hope Agenda.
Speaking at the inaugural board meeting at the Presidential Villa, Shettima, who also serves as Chairman of the Board, emphasized that public debt should be strategically utilized for infrastructure development, 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 to achieve long-term debt sustainability for Nigeria,” he stated.
According to the Senior Special Assistant to the President on Media & Communications, Stanley Nkwocha, Shettima highlighted the administration’s focus on fiscal discipline and economic stability, stressing that borrowing, when properly managed, can drive national development rather than become a financial burden.
The Vice President also commended Nigeria’s recent success in the global financial market, referencing the issuance of a $2.2 billion double-tranche Eurobond as proof of growing investor confidence in the country.
Key Members of the DMO Board
The newly inaugurated board includes:
Wale Edun – Minister of Finance and Coordinating Minister for the Economy (Vice Chairman)
Lateef Fagbemi – Attorney General of the Federation and Minister of Justice
Dr. Tope Fasua – Special Adviser to the President on Economic Matters
Olayemi Cardoso – Governor, Central Bank of Nigeria (CBN)
Dr. Oluwatoyin Sakirat Madein – Accountant-General of the Federation
Patience Oniha – Director-General, Debt Management Office (Secretary)
The inauguration of the DMO Supervisory Board is expected to enhance Nigeria’s debt management strategy, ensuring sustainable borrowing practices that align with the nation’s long-term economic goals.
