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Rivers Exco Approves 2025-2027 Medium Term Expenditure Framework …Ups Payments To Pensioners By N1bn …Gives Nod To Five-Yr Extension Of Service For Teachers
The Rivers State Executive Council has approved the framework for the Ministry of Budget and Economic Planning to commence the preparation for the 2025 budget of the State.
The State Executive Council gave the approval at its meeting, presided over by Governor Siminalayi Fubara, and attended by Deputy Governor, Prof Ngozi Odu, and other Council members at the Executive Council Chambers, Government House, Port Harcourt, last Thursday.
This follows the approval of the request by the ministry for the submission of the updated copy of the 2025-2027 Rivers State Medium Term Expenditure Framework (MTEF) to Council.
The Commissioner for Budget and Economic Planning, Dr. Peter Medee, disclosed this while briefing newsmen after the meeting, noting that the Medium Term Expenditure Framework, which explains the fiscal and economic outlook of government for the year under consideration, enables government to situate the economy such that the budget will not be over or under budgeted.
He said, “Council, today, graciously approved our request for the submission of the updated copy of the 2025-2027 Rivers State Medium Term Expenditure Framework (MTEF). The MTEF is a document that explains the fiscal and economic outlook of government for the year under consideration. It takes six years behind and three years ahead. The essence is to project and put some forecast based on which the budget of the following year will be prepared.
“So, today, Council has approved the framework for us to go ahead to prepare the 2025 budget of Rivers State. The essence is that the Medium Term Expenditure Framework takes into consideration the global outlook, the continental outlook, the national outlook, and the state’s specific outlook.”
According to him, “The idea is that when we do this focus, we will be able to situate the economy such that whatever maybe the vicissitudes of the shock or other volatilities that may affect the economy, the projection will be able to make the economy insulated, such that we will not be able to over budget or under budget.
“So, the Medium Term Expenditure Framework that has been presented today has taken into account the shock arising from the conflict in the Middle East, the war in Ukraine and Russia as well as other internal shocks, just like oil price as well as other daily averages that will be able to affect the economy.
“So, Council, in their wisdom today, has looked at all that, so that we will be able to prepare a budget that Rivers State can be moved from where we are today, where the Governor and the government of Rivers State will be able to provide value for the money, because budget is all about expected income and intended expenditure.
“The income we are expecting, we have been able to look at the outlay of the sources where this income will come, and we have also been able to look at what the needs are, such that the expected expenditure will be situated on the need basis and all that is what this document looked at.
“We have also projected the income that we are expecting from the local governments as well as other sectors. All these are packaged in the envelope, such that by the time we do sectoral distribution of this income, which is going to be the actual budget, then, we will be able to put the State on the path of growth and development.”
Dr. Medee noted that the 2025 budget, which will be bigger than that of 2024, will enable the Governor and government to deliver more democratic dividends to meet the needs of Rivers people.
He added, “One important thing that we have been able to achieve today is that the Medium Term Expenditure Framework, has projected such that we are going to have a budget that is going to be expansionary, because the figure we are looking at is greater than the figure for 2024. And because the figure is greater, it means that the delivery from the state government to the people of Rivers State is going to meet a lot of expectations, such that Rivers people will be proud that they have a government that cares for them.”
On his part, the Commissioner for Information and Communications, Warisenibo Joseph Johnson, stated that Council applauded the Governor for approving additional N1billion to the already subsisting N1billion Pension Fund in the State.
Warisenibo Johnson noted that the Governor’s gesture is worth commending as the additional fund will take care of pensioners in the State as part of his welfare package for both the civil servants and the retired senior citizens of the State.
He added, “Council also appreciated His Excellency for a N1billion addition to the Pension Fund. It had always been N1billion, but the Governor, in his usual mannerism, has increased that figure from N1billion to N2billion.
“This is to take care of our pensioners, and that is worth commending His Excellency as part of his welfare package for both the civil servants and the retired civil servants.”
Also speaking, the Rivers State Head of Civil Service, Dr. George Nwaeke, said Council also approved the domestication of the law elongating the number of service years for teachers across the country by extra five years for teachers in Rivers State.
Dr Nweake, however, stated that the approval will only be applicable to professional teachers duly registered with the Teachers’ Registration Council of Nigeria (TRCN).
“There is this new law elongating the number of service years for teachers across the country. Before now, teachers retire at the attainment of 60 years of age or 35 years of service to Nigeria. But this new law now has elongated the service of teachers by five extra years, so that teachers will now retire at the attainment of 65 years or 40 years of service, whichever comes first.
“So, today, Council has approved this particular domestication of this new service years for teachers in Rivers State. And we are talking about teachers, not administration staff or other staff working in the schools.
“Every person that will benefit from this must be teachers that are professional and registered with Teachers’ Registration Council of Nigeria. They must be professional teachers, and they must be teachers in the classroom, not people that are working as admin staff. This is a very heartwarming news, and Council has approved it,” he asserted.
He added that implementation of the policy is effective immediately, based in the circular enabling the elongation of the service year for teachers across the country.
News
Let’s Approach Regional Development Issues Differently – Fubara …As S’South Govs Host Fubara To 50th Birthday Celebration
Rivers State Governor, Sir Siminalayi Fubara, has sued for a change in the current approach adopted by South South Governors in their pursuit to achieve holistic regional development and economic prosperity.
The governor insisted on de-emphasis in vested individuals’ political interests while looking at the bigger picture of achieving enduring regional integration that will strengthen unity of purpose to change the trajectory of development in the region.
Fubara made the appeal during the meeting of Governors of South-South States, under the auspices of BRACED Commission, at the Bayelsa State Government House in Yanagoa on Tuesday.
This was contained in a statement by the Chief Press Secretary to the Governor, Nelson Chukwudi.
BRACED is an acronym for Bayelsa, Rivers, Akwa Ibom, Cross River, Edo and Delta.
He said: “I want to appeal that if we have to succeed in this drive, we need to keep our political differences aside and understand that the struggle, as at today, is for posterity, for the development of our region.
“It is really sad that in Niger Delta that is the economic base of this country, the construction of a road that you tagged ‘East-West Road’ could be an issue, that we need to beg, protest, and complain to get it fixed. I don’t think it is proper.”
Governor Fubara stated that it is not that the federal authorities do not understand that Niger Delta needs the road but quickly added that they have seen that even the people of the region do not take themselves seriously.
The governor said the moment Niger Delta people stopped playing to the gallery, and place value on themselves, outsiders will have no option than to accord the region and its people due regard.
Fubara said: “On my part, I want to say this: This is not the first time we are meeting. For me, I followed the course of the region meeting in a forum that we tagged “BRACED Commission.”
“BRACED Commission is also one of the bodies that was constituted at that time to support and work out development strategies for this region. But what I am seeing today is just limiting this meeting to only BRACED COMMISSION.
“We need to widen the scope where other leaders of the region should be part of the discussion of the development of the region, and I think this is the direction that will help the region.”
Reading the Communique of the meeting, the new Chairman of the Forum of Governors of South-South States, and Governor of Bayelsa State, Senator Douye Diri, said they support the Federal Government Tax Reform Bills, and urged President Bola Tinubu to extend the Value Added Tax (VAT) sharing percentages to oil and gas derivation.
He stated the Forum’s request to the Federal Government to urge relevant stakeholders and agencies to extend remediation of polluted environment ongoing in Ogoni land to other impacted communities and States in the region.
Governor Diri also said that the Forum resolved to establish a structural regional security network to enhance safety and security, foster stable Niger Delta region conducive for economic growth and prosperity.
Highlight of the event was the hosting of Governor Fubara to a surprise 50th Birthday celebration by the Governors of South-South States at the Government House in Yenagoa.
News
Fubara Lauds Tinubu For Setting Up Education Load Fund … Vows To Ensure Rivers Benefit Maximally From Scheme
The Rivers State Government has applauded President Ahmed Bola Tinubu for conceiving the idea of setting up the Nigeria Education Loan Fund (NELFUND) which has opened up opportunities for youths to acquire tertiary education irrespective of their financial status.
Rivers State Governor, Sir Siminalayi Fubara, gave the commendation while playing host to a delegation from NELFUND who came on an advocacy visit to the Government House in Port Harcourt on Tuesday.
Represented by his deputy, Prof. Ngozi Nma Odu, Governor Fubara said in developed countries it is common for people to go through school with loans which they sometimes pay all throughout their lives, noting that “for us, it is more accessible and more friendly because you would be required to pay back the loan two years after your National Youth Service.
“It is a win-win situation; it is a situation where the youths in Nigeria should not say because my parents are poor or passed away I cannot improve on my educational growth. This offers them a golden opportunity and I am glad you came for this advocacy.”
The governor urged NELFUND to intensify its advocacy to let the people know how they can benefit from it, adding that it is more important when talking about vocational institutions.
“If you look at the developed countries it is people that went to the vocational schools that make so much money, because it is pricey to get somebody to do anything, we need to instil this into our people, our youths, because people sometimes tend to look down on people that went to vocational schools, it should not be,” he said.
Fubara expressed delight with the NELFUND programme and assured that the State Government would do whatever it can to ensure Rivers State benefits maximally from the scheme.
In his remarks, the Managing Director and Chief Executive of NELFUND, Dr. Akintunde Sawyer, informed the governor that they were in Rivers State to seek the support of the State Government towards the loan, stressing that President Tinubu has directed them to ensure no Nigerian student who has the ability and desire to get educated at tertiary level is denied the opportunity due to lack of funding.
He explained that the scheme provides interest-free loans to students who apply, adding that these loans are not repayable until two years after their Youth Service when they must have gotten a job.
News
UK Appoints British-Nigerian As Trade Envoy To Nigeria
A British-Nigerian politician, Florence Eshalomi, has been appointed as the United Kingdom’s trade envoy to Nigeria.
Her appointment makes Eshalomi the second Nigerian to hold the position.
Confirming her appointment on X on Tuesday, she wrote: “It is an honour to have been appointed as the United Kingdom’s Trade Envoy to Nigeria.
“I’m looking forward to building on my close ties with Nigeria to promote a strong and flourishing economic relationship between our two great nations.
“I am looking forward to strengthening the UK’s relationship with Nigeria to explore shared growth and opportunities for both countries.”
Announcing the appointment in a statement on Tuesday, Jonathan Reynolds, the UK’s Business and Trade Secretary, said the decision was aimed at attracting investment into the UK and boosting economic growth.
“I’ve launched a new team of trade envoys who will use their experience, expertise, and knowledge to unlock new markets around the world for British businesses, attract investment into the UK, and ultimately drive economic growth,” Reynolds said.
Eshalomi, 44, is an MP representing the Vauxhall and Camberwell Green constituency.
She holds a Bachelor of Arts (Hons) in Political and International Studies with Law from Middlesex University.
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