Rivers
Oceanic Bank Pledges Support For Early Child Programme
Oceanic Bank Plc has pledged its support to the “adopt a child initiative”, an educational support programme for less privilege children developed by the Empowerment Support Initiative (ESI), a non-governmental organization in Rivers State.
The Branch Manager of the Bank, Mrs Omieti Florrie, stated this recently during a visit to the founder of the ESI and wife of the Rivers State Governor, Dame Judith Amaechi, at Government House, Port Harcourt.
The Oceanic Bank boss disclosed that the organization was thrilled by the “adopt a child initiative”, which has the propensity to reduce the high level of illiteracy in the country, especially among children who are exposed to crime due to their lack of education.
Responding, the wife of the State Governor, thanked the bank for its gesture and assured them of the willingness of ESI to partner with well-meaning individual and corporate entity to better the lots of Nigerian children.
Rivers
Julius Berger reiterates commitment to Bodo- Bonny Road Project
Julius Berger Nigeria Plc has reaffirmed its steadfastness in its mission to delivering transformative infrastructure projects that align with Nigeria’s developmental priorities.
In a statement issued by the leading construction firm and signed by its Head, Corporate Communications, Mr. Emeiseifa James Agama, Julius Berger noted that, “For over 50 years, we have partnered with the Federal Government, communities, and stakeholders to deliver transformative infrastructure solutions with professionalism, transparency, and adherence to the highest standards”.
“The Bodo-Bonny Road project exemplifies our unwavering commitment to progress, despite significant operational and financial challenges. Extreme inflation, rising input costs, and FX volatility necessitating the declaration of Force Majeure and the suspension of works in November 2023. Nevertheless, Julius Berger resumed work in good faith in August 2024, five months before the formal execution of the contract, following a verbal agreement with the Federal Ministry of Works to adjust the contract value from NGN200 billion to NGN280 billion”.
“Although inflationary pressures on materials have risen between 200% and 600% (and even higher in some cases), the relatively modest adjustment to the contract value was a welcome step. Julius Berger’s acceptance at the time reflects our commitment to addressing challenges impacting projects and fostering mutual agreements with the Federal Government to ensure their successful delivery”, the statement further read.
Julius Berger further noted that, “The absence of a tripartite funding agreement between the Federal Government, NLNG and Julius Berger continues to impact payments, requiring Julius Berger to pre-finance significant portions of the project. Despite these challenges, we have continued to make progress, including through the yuletide season, reaffirming our commitment to delivering this critical national asset”.
“It is important to note that Julius Berger is the only contractor to have taken on this project in a challenging terrain previously abandoned by other contractors. Connecting Bonny Island to the mainland for the first time underscores our commitment to innovation and national development.
We remain focused on fostering constructive engagement with all stakeholders to ensure the timely and successful delivery of the Bodo-Bonny Road, a project critical to Nigeria’s economic and social advancement and a cornerstone for the long-term development and prosperity of the Niger Delta”, the statement read.
Rivers
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