Vice President Kashim Shettima has declared that Nigeria must continue to use public debt as a vehicle for the development of critical infrastructure and tool for economic growth and poverty reduction.
He spoke yesterday in Abuja while inaugurating the Supervisory Board of the Debt Management Office (DMO) as part of efforts by the federal government to strengthen fiscal and monetary policy coordination and ensure long-term debt sustainability in line with President Bola Tinubu’s Renewed Hope Agenda.
In his speech at the maiden meeting of the Board at the State House, the Vice President who doubles as Chairman of the Board charged members to come up with a more strategic approach to public debt management.
According to him: “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, with a view to achieving long-term debt sustainability for our country.”
The Vice President stressed that borrowing, when applied prudently, could serve as a catalyst for economic growth rather than a financial liability.
