CBN Asks DFIs To Contribute More To Economy

CBNThe Central Bank of Nigeria (CBN) has challenged the Bank of Industry (BOI) and other Development Finance Institutions (DFIs) to increase their financial contribution to the economy.

The Deputy Governor of CBN, Finance System Stability, Mr Okwu Nnanna, disclosed this on Tuesday, saying that 5 per cent out of 14.7 trillion credit as at June 2015 was unacceptable.

He said that development banks in Nigeria must begin to make significant impact on targeted sectors of the economy to help cushion the nation’s current financial and developmental challenges.

The CBN official highlighted that agriculture, infrastructure as well as Micro, Small and Medium Enterprises (MSMEs) were three critical sectors that must grow, adding that only the productivity of Nigeria would determine the strength of the Naira at this time.

He said that the CBN has introduced the set of regulatory guidelines to equip the DFIs to access the capital market for funds to finance critical sectors of the economy.

Some challenges the apex bank said must also be tackled in the development real sector were high levels of non-performing loans, weak risk management and political interference.

Delta State Direct Labour Agency Reveals Road Maintenance Plan

road-deltaThe Delta State Direct Labour Agency has explained the activities of the agency as regards road maintenance in the state.

The Director General of the agency, Frank Enekorogha, addressed a press briefing in Asaba, the capital of Delta State, where he told journalists that it had become important for Deltans who are end users of the roads to come into consonance with their mission.

He explained that the press briefing was to create an enabling public/private participation where it becomes necessary.

Mr Enekorogha highlighted some of the responsibilities of the agency, saying it would embark on rehabilitation of existing or failed roads.

He added that the agency would be involved in the construction of new roads and the maintenance of existing roads in the state.

The agency also took a tour of some existing roads and captured about 157 roads across the state. Some of these roads are still undergoing rehabilitation, while others are already completed.

Fidelity Bank To Support Nigeria-Netherlands Trade Ties

fidelity bankFidelity Bank Plc has said it would continue to support trade and investment between Nigeria and the Netherlands as the nation awaits possible changes in government policies.

Speaking at a luncheon of the Nigerian Netherlands Chamber of Commerce in Lagos, the Managing Director of the bank, Mr Nnamdi Okonkwo, welcomed the intentions of members of the Chamber to increase investments in all sectors of the nation’s economy, as it has done with the volume of trade.

Fidelity Bank promises to always be there to support every kind of business between the two countries (Nigeria and Netherlands).

During the luncheon, the NNCC expressed optimism in the opportunities that the change of government holds for the country and it’s business allies.

A renowned economist, Bismark Rewane, also presented a business and economic outlook to the audience.

Established in 1978, The Nigerian Netherlands Chamber of Commerce ‎has contributed to Nigeria’s economy with trade volumes hitting around 7 billion Euros per annum.

Sectors in which the Nigerian Netherlands Chamber of Commerce hopes to invest hugely include agriculture, education, infrastructure and alternative power.

The Chamber says its main objective is to promote and protect trade, agriculture and industrial relations between the Netherlands and Nigeria .

Governor Obiano Promises To Build More Roads

obiano 2Anambra state governor, Willie Obiano, has assured residents of Awka community of his administration’s commitment to improve their welfare through massive road construction to boost economic activities.

He said that opening up all the areas that are food basins of the state through massive road construction and developing Awka, the state capital, will not only bring economic development but also improve the living standard of the people.

Governor Obiano made the disclosure during the inspection of a 16 kilometre Awka- Achalla Road in Awka North local government area and the flag off of over twenty kilometer road leading to Greenwood Housing Estate meant to accommodate over three thousand housing units in Agu Awka.

Inspecting the first stretch of roads that cut through 7 communities which includes Awka, Okpuno, Urum, Isuaniocha, Amanuke and Achalla, the governor expressed dissatisfaction over the slow pace of work and the quality of the construction due to the absence of drainage.

The governor stated that the 16 kilometre road, with a bridge awarded at the cost of N2.1 billion is very important to the people of Awka North Local Government Area, as it would give them quick access to their local government headquarters in Achalla, as well as traverses the 7 communities that form part of the state agricultural food belt that cultivate key food crops like rice, cassava and maize.He directed the contractor to speed up the pace of work and deliver on contractual completion period of 2 years.

While addressing the people gathered, Obiano disclosed his plans to increase production of essential crops by 40% and in addition, to distribute free seedlings to registered co-operatives to commence the following week.

Moving to Agu-Awka, he flagged off over 20 kilometre road leading to the state’s Greenwood Housing estate where over three thousand housing unit would be built. The governor in his statement reiterated his desire to see the state capital transform to a modern city, a home and investment destination to people from all walks of life, adding that road infrastructure would have all the trappings of a modern road with adequate drainage and street lights.

Reacting to the developmental activities of the governor, the Member Representing Ekwusigo Constituency in the ANambra State House of Assembly, Mr. Paully Onyeka, commended the governor‘s zeal in developing the state within a short period.


Ogun To Become To Lagos, What New Jersey Is To New York – Amosun

Govenor Ibikunle AmosunThe Ogun State governor, Ibikunle Amosun, on Thursday restated his administration’s ambition to making Ogun State become to Lagos, what New Jersey is to New York.

He made his resolve known while on Channels Television’s breakfast programme, Sunrise Daily, stressing that Ogun State must take the economic advantage of its proximity to Lagos.

“Yes, we want to be to Lagos what New Jersey is to New York, but we want to do even more than that,” he said.

“We must take the economic advantage of our proximity to Lagos and whenever I have the opportunity, I tell them that, we want to feed Lagos, we want to house Lagos, we want to move Lagos, indeed we want to clothe Lagos,” he said, noting that “if we must do that, we as a State must get it right”.

He also stated that Lagos was a huge market for investors and manufacturers, hence there would be good profit for Ogun State, adding that “if we are about 7 million and Lagos is about 20 million and of course Lagos is the biggest market”.

The Governor recalled that several years ago, Ogun State used to supply Lagos food but stopped at some point. He went further to state that Ogun was making efforts to supply food to Lagos, to mitigate the need for the citizens to wait for food from the Northern part of the country.

He stressed the need for infrastructure which is directly connected to economic increase, unlike education and health which he said were more of social services.

“For us, we believe, if we get agriculture right, if we get the infrastructure right, then we have gotten it right,” he concluded.

Wada To Effect Infrastructural Changes To Aid Persons With Disabilities

Governor Idris Wada of Kogi State has said that all buildings in the state will henceforth be designed and built to accommodate easy accessibility for those living with walking disabilities.

He said this at a ceremony which held in the government house, Lokoja where the Beautiful Gate Handicapped Center, in collaboration with the State Ministry of Women Affairs and Social Development distributed 50 wheel chairs and 30 clutches to people living with disabilities.

Speaking at the event, the commissioner in charge of the ministry, Mrs Patient Mameh, said that the presentation of walking aids is an indication that the disabled in the state are not forgotten by the government.

She added that about 7000 wheel chairs have so far been donated by the State Government to ease the movement of the physically challenged.

In his address, the Chief Executive Director of the Beautiful Gate Center, Mr Ayuba Gufwan, pleaded with Governor Idris Wada to ensure that all persons living with disability are supported with the necessary instruments before the expiration of his administration.

He also pleaded with the governor not to approve any building in the state that has not made a provision for a ramp, and easy accessibility for those on wheel chairs.

In his response, Governor Wada commended the director of the Centre for collaborating with his administration to ease movement of the physically challenged in the state.

He assured them that henceforth, all government and public buildings in the state would be designed to accommodate easy accessibility for those on wheel chairs, owing that the physically challenged persons in the state would continue to receive government attention and sense of belonging like any other citizen.

The Beautiful Gate Handicapped Center was set up to address the many challenges of persons living with disabilities in Nigeria and beyond, and one of their goals is to assist and also compliment the efforts of churches, governments and other institutions.






Amaechi On How He Turned Port Harcourt Around

The Rivers state governor, Chibuike Amaechi while speaking on Channels Television’s breakfast programme, Sunrise, on Saturday said that his administration has had to work hard to turn the state capital into its current state.

Mr Amaechi who became governor in 2007 said “we met huge challenges when we took over especially unemployment and poverty.” However his administration engaged in infrastructural development in a bid to rescue the city from militants.

“We have gone very far,” he said.

On the issue of security, he disclosed that, “we used to have about 15 to 16 kidnaps in a day or two, adding that, there has been hardly any occurrence in recent times except for the kidnap of Bishop Kattey.

“Now you barely hear of it,” he added.

He stated that Port Harcourt is trying to meet up with the challenge of increase in population as “there’s huge rise in population.”

In the area of education, the Governor explained that his administration took over the job of overseeing the sector from the local governments.

“We give local government areas two billion naira every month,” he said.

There are also plans to commission a total of 750 schools among which 250 will be commissioned in October.

Of the 91 thousand teachers needed to man these schools, 13 thousand have been hired already.

In a bid to improve the quality of education, “we got the British council to help us train teachers.”

Booming Fruit Market Struggles With Filth

Traders in the Zuba fruit market, located in Abuja have called on the government to look into two major problems, lack of infrastructure and filth.

The market which is a commercial centre for many traders from different parts of the country and neighbouring countries, struggles with the challenge of managing and disposing its waste.

A trader, Dorothy Uwaeze told Channels Television that many of the traders and customers visit the hospital regularly because worms penetrate their skins, especially those who do not wear boots to protect theri feet.

The secretary of the market committee, Bala Mohammed, disclosed that the market has been in existence for 20 years and welcomes traders of different tribes from various parts of the country, who conduct their business in the market.

However, the market suffers lack of good infrastructure and cleaning system as traders have complained of the filthy environment they are forced to conduct business in.

Edo Varsity Gets N500 Million Facility Grant

Governor Adams Oshiomhole of Edo State has approved the sum of N500 million for Ambrose Alli University to upgrade its facilities.

Speaking at the inauguration of eight member Governing Council of the university chaired by Professor Greg Akenzua, Governor Oshiomhole said the money will be paid in installments, beginning from this month and spread over a couple of months.

Governor Oshiomhole who acknowledged that the institution has several challenges said the Governing Council will decide how best to put the money to use, but that he expects value for every kobo spent.

The Governor said he has total confidence in the new AAU Governing Council as it is made up of seasoned academics, administrators, and people who have demonstrated passion for quality education.

Responding, Chairman of the Council, Prof Greg Akenzua, on behalf of others, pledged that the Council would do its best to reposition the University and justify the confidence reposed in them by the Governor.

Other members of the council are Professor Thomas Audu, Professor Tom Imobighe, Dr Andrew Isegwe, Dr Andrew Okwilagbe, Dame Esohe Jacobs, Prince Tony Omoaghe and Dr Godswill Ogboghodo.


Army Urges Nigerians To Appreciate Soldiers

The Nigerian Army has called on Nigerians to appreciate efforts and sacrifices made by soldiers and security personnels in ensuring safety for all.

The Commander for Brigade Nigeria Army, Benin, Brigadier General Pat Akem said this at the commissioning of projects executed by 19 Battalion in Koko Delta State.

He condemned the situation and conditions that soldiers work under.

While commending the commanding officer of the 19 battalion for the infrastructure that has been put in place, he noted that it will create a good platform for soldiers to conduct their operations and be productive.

He added that if the soldiers had support and appreciation from Nigerians, “this will also encourage productivity.”

In his response, the commanding officer 19 Battalion, Lieutenant Colonel Frank Etim said “I was spurred by the desire to give my men, a befitting and well deserved administrative welfare.”

Projects commissioned were medical inspection room, office complex, quarter guard, operations room and furnished soldiers accommodation.


Jonathan Swears In New Head Of Service

President Goodluck Jonathan, on Monday swore in the new Head of Service, Alhaji Goni Aji in the Council Chambers of the Presidential Villa, AbujSpeaking at the ceremony, the President admonished the new Head of Service to surpass the accomplishments of his predecessors, instill discipline as well as curtail corruption in the civil service.

Pointing out that the civil service had always been seen as the embodiment of excellence, the President urged the new Alhaji Aji to bring back the past glory in the interest of the nation.

President Jonathan noted that the civil service is central in the realisation of the transformation agenda of his administration, and asked him to focus on key areas such as agriculture, infrastructure, education and health. The President also directed him to ensure the full implementation of the performance management system which will enable civil servants discharge their responsibilities.

Obi flags off reconstruction of three bridges worth over N2 billion

In a quiet ceremony at the site of the bridge at Ozubulu, Ekwusigo local government area of the state, Anambra state governor, Peter Obi, has flagged off the reconstruction of three bridges along Atani/Ozubulu road which is under construction.

The bridges awarded at the cost of over N2 billion  bring to 20 the number of bridges executed by the present administration with some of them already completed.

Mr Obi, said 15 per cent of the contract sum has been paid the contractor to ensure speedy execution of project at record time.

The first bridge at Atani axis is 60 metres in length, while the remaining two at Ozubulu are 45 metres respectively. They have also been expanded from four feet to 12 feet, width wise, and its height increased to eight feet.

The economic importance of the road was captured by the governor and secretary to the state government.

Also the commissioner of works reminded the people on the need to be supportive of government’s effort.

Member representing Ekwusigo Local Government Area in the state House of Assembly, Mr Paulinus Onyeke, commended the present administration for its dedication to duty and service to mankind and urged his constituents to lend support by way of taking ownership of the construction.