Shettima: Nigeria Can Convert Debt into Economic Growth Through Prudent Management
Nigeria’s Vice President, Kashim Shettima, has emphasized that with effective financial planning and discipline, the country’s debt can be turned into an economic asset that fosters sustainable development.
Speaking at the inauguration of the Supervisory Board of the Debt Management Office (DMO) in Abuja, Shettima urged citizens and policymakers to shift their perspective on national debt. He argued that rather than viewing debt as a financial burden, Nigeria should leverage it strategically to drive long-term economic growth, reduce poverty, and create economic stability.
Debt Management as a Path to Economic Prosperity
Shettima reiterated that the current administration, under President Bola Ahmed Tinubu, is committed to ensuring sustainable debt management through the Renewed Hope Agenda (RHA). The government aims to develop sound economic policies that will optimize debt utilization and improve fiscal responsibility.
According to the Vice President, efficient debt management can pave the way for financial stability, improved infrastructure, and economic expansion. He encouraged the newly inaugurated DMO board members to collaborate in crafting strategic debt management policies that align with Nigeria’s long-term development goals.
“With prudent financial management, debt can be transformed into an asset that fuels economic growth and reduces poverty,” Shettima stated.
A Call for Strategic Debt Policies
As Nigeria continues to navigate economic challenges, Shettima stressed the importance of implementing regulations and frameworks that support long-term debt sustainability. By prioritizing well-structured policies, the country can harness its debt for investment in infrastructure, job creation, and poverty alleviation.
For more insights into global debt management strategies, read this analysis by the International Monetary Fund (IMF).
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