Niger Delta

Edo, BoI Unveil Fund For 50,000 Entrepreneurs

Published

4 years ago

September 27, 2021

The Edo State Government and the Bank of Industry (BoI), have unveiled a Micro, Small and Medium Enterprise (MSME) development fund worth N2 billion to support entrepreneurs in the state.
The fund was launched during a citizens’ engagement session organised by the Edo State Skills Development Agency, also known as Edo Jobs, held at the Government House in Benin City.
Speaking at the event, Governor Godwin Obaseki said, “The Bank of Industry (BoI), which is a reliable partner, is here today to launch the MSME fund. The initial amount is N2 billion. Edo State Government provided N1 billion, while BoI provided the other N1 billion, making it N2 billion, with an attractive interest rate.”
”In addition, we have a N165 million fund, as part of the first tranche from the Edo State Government. It will be made available to small businesses, which are currently domiciled in our production hub, to support and encourage them to grow their businesses.
“BoI has the capacity and resources to support this kind of programme. From this N2 billion fund, we estimate that we can impact as many as 50,000 businesses in Edo State. We have other facilities with other institutions like the Central Bank of Nigeria (CBN). This is a start-up fund, as we expect it to continue to grow: If you start with N50,000, now and when you do well tomorrow in your business, you will need N200,000.
Borrowing is part of business, provided you continue to grow,” the governor stated.
The Governor assured that despite the Covid-19 pandemic, his administration remained committed to improving the livelihoods of the people and creating opportunities for the youths to thrive.
He stated: “We have continued to create opportunities for Edo youths as our administration is open, transparent and competent in all we do. We urge Edo people to trust us, as all the opportunities that we present are real, and life-transforming for Edo people.”
On his part, Managing Director/Chief Executive Officer, BoI, Mr. Olukayode Pitan, said that “in a quest to grow and develop MSME businesses in the country, the bank has resolved to continue to collaborate with existing enterprises, as well as reputable local and international partners.
“This MSME fund is aimed at providing business loans to enterprises located within the state, while the second fund is the N165 million Edo Production Hub Fund, financed by the Edo State Government. The Edo Production Hub Fund is managed by the BOI and is to support businesses located within the state-owned production hub.”
Later, the governor and his team, as well as his guests were also taken on a guided tour of the Edo Production Hub. They also commissioned the new Bank of Industry building in Benin City.

Niger Delta

NDDC Tasks Communities On Infrastructure Protection, Synergy … As Okpebholo, Snate HostComm Chair Praises NDDC’S Performance

Published

3 weeks ago

March 28, 2025

The Tide

Managing-Director and Chief Executive Officer (CEO), Niger Delta Development Commission (NDDC), Dr. Samuel Ogbuku, has charged communities of the Niger Delta region on protection of infrastructure projects executed by the Commission in their domains.

He also urged community stakeholders to synergize with contractors and management of the commission towards ensuring that there is no impediment to the execution of contracts awarded to their communities.

Ogbuku stated these in his remarks as Co-host of the 67th edition of the “Eyal Obeyin” of his home town, Ayakoro, in the Ogbia Local Government Area of Bayelsa State.

The Tide learnt that Ayakoro, home town of the Managing-Director/CEO of the NDDC, 67 years ago due to worsening floods and devastating erosion, relocated from their first settlement to their current settlement, directly opposite the old one for safety, hence the yearly cultural celebration to commemorate their exodus.

The NDDC helmsman, who also promised the agency’s continued desire to fasttrack the development of the Niger Delta region, commended President Bola Tinubu for his forthrightness and love for the region, noting that the NDDC under his stewardship would continue to execute policies and projects that would positively impact the region.

“Today, as MD/CEO of NDDC, I know, as a Commission, that whatever achievements we’ve made was due to your support as stakeholders of the Niger Delta region. But one thing I want to say is that communities should partner us by protecting infrastructure we’re building in their domains.

“Every community is in dare need of development, and so whatever development that comes your way should be jealously guarded.

“We also want communities to cooperate with our contractors by not making life difficult for them when they are in your places to execute projects. When you make life difficult for them, they’ll leave your communities and go to another site, and your communities will be the ones to suffer for it.

“We’ve good community relations policy. We’ve the Directorate of Community Relations. Any community that isn’t satisfied with any contractor should please come to us. We can handle their complaints, don’t frustrate contractors”, the NDDC MD adviced.

Meanwhile, the duo of the Edo State Governor, Senator Monday Okpebholo, and the Senator representing Bayelsa East Senatorial district/Chairman, Senate Committee on Host Communities, Senator Benson Agadaga, have commended the MD/CEO of the NDDC, for turning around the narratives of the commission.

Governor Okpebholo and the Federal lawmaker gave their commendations in their separate remarks, as Chairman of the occasion, and Special Guest of honour, respectively, at the 2025 edition of the “Eyal Obeyin” cultural celebration.

Ariwera Ibibo-Howells, Yenagoa

Niger Delta

Delta Among 4th Largest Economy in Nigeria – SSG

Published

3 weeks ago

March 28, 2025

The Tide

Delta State has emerged as one of the top four largest economies in Nigeria, Secretary to the State Government (SSG), Dr. Kingsley Emu, has said.

Dr. Emu stated this in his keynote speech at the 2025 Public Lecture and Awards Ceremony of the Association of Professional Bodies of Nigeria (APBN), Delta State Chapter, held in Asaba, yesterday.

He said the theme, “The Role of Professionals in the Successful Implementation of the Delta State Government MORE Agenda”, was apt and highlighted the state’s impressive growth trajectory, attributing it to Governor Sheriff Oborevwori’s strategic governance, infrastructural investments, and a thriving private sector.

Dr. Emu emphasized that Delta’s economic rise was a result of deliberate policies aimed at boosting agriculture, industrialization, and human capital development.

He said through prudent management of resources, investor-friendly policies, and a focus on key sectors such as oil and gas, manufacturing, and technology, Delta has solidified its place as a major economic hub in Nigeria.

He also pointed to Governor Sheriff Oborevwori’s administration as a key driver of this success, citing initiatives such as the expansion of road networks, increased support for small and medium enterprises (SMEs), and the development of industrial parks across the state.

Dr. Emu added that the state’s strong contributions to the oil and gas sector, along with growing diversification efforts, have been critical in achieving this status.

“Whether you denominate in Naira or Dollar, Delta is the 4th largest economy in Nigeria and the highest oil producer in the country today.

“Oil revenue today accounts for only 48.7 percent of our GDP, Services and all others account for 51.25 percent.

“This tells you that even though oil and gas is our main revenue earner, services and others account for money.

“It means that as an economy, we are diversifying even though oil accounts for the highest revenue, it does not account in terms of provision of jobs for our people.

“Agriculture sector has grown year-on-year at 13.3 percent for over six years now, while services and manufacturing have also grown significantly.

“We have diversified and created huge jobs for our people totalling over 257,000 jobs and that is very significant”, he noted.

He said with this new ranking, Delta State is poised to attract more local and international investments, solidifying its role as a leading economic powerhouse in Nigeria.

According to him, Oborevwori’s administration has constructed over 500 roads with over 1500km and 933km of line drainages with massive contributions to job creation and poverty eradication.

“In 2020 we were rated the second least poor state in Nigeria only second to Lagos State. In 2022, the multi-dimensional poverty rating indices showed National average at 63 percent. Delta is 47 percent, placing 9th in the country.

“There are some jobs advertised in the country with some states applying more than Delta State and for me its another measure of poverty.

“It indicates that the people here have other choices, they have an option because if there were no options they would have taken those jobs.

“We have over 254,747 empowerments through multiple job creation channels. For every road construction, there is provision for jobs so the more we construct roads across the state, the more jobs we create.

“Physical and social infrastructure fertilises development. So, we will continue to construct more roads and other physical infrastructure across the state”, he said.

On why government is spending huge amounts on road infrastructure, Dr. Emu, said there is a huge infrastructure deficit running into trillions of dollars in Nigeria.

He said South Africa recently provided $54billion dollars for road infrastructure, adding that the problem is not peculiar to Nigeria alone.

“Physical infrastructure fertilises development, it inter links local areas to the urban centres and reduces rural-urban migration and gives room for expansion of businesses in all the hinterlands.

“Hence Government is spending huge amounts in building Trans Warri-Ode Itsekiri Road and bridges, the Ughelli-Asaba Expressway among others”, he noted.

Emu further said as professionals they have major roles to play in the development of the state and urged them to provide useful advise to government on how to develop the state.

In his welcome remark, Chairman APBN, Delta State Chapter, Surv. Victor Ezie, acknowledged the good works of Governor Sheriff Oborevwori, especially on the Ughelli-Asaba Expressway, emphasising that the impact of his governance was resonating through out the State.

He congratulated Governor Oborevwori on his emergence as Governor of the year by THISDAY/ARISE News and urged the Governor to keep the flag flying even as he expects diversification of the state’s economy beyond oil dependence.

He called for more investments in non-oil sectors such as Agriculture, Technology, Industries, Commerce, Electricity, Transportation, mass housing, and tourism to ensure sustainable growth.

Niger Delta

World Water Day: Aging Facility, Bane Of C’River Water Board – Commissioner

Published

3 weeks ago

March 28, 2025

The Tide

The Commissioner for Water Resources in Cross River State, Mr. Bassey Mensah, has said that aging water facilities was limiting the performance of the state’s Water Board.

Mensah said this recently in Calabar during a stakeholders’ engagement organised by the board to commemorate the World Water Day.

The Tide’s source reports that the theme for this year’s celebration is: “Glacier Preservation”.

The event comes up every March 22 to create awareness about water and inspire actions to tackle global water shortage.

The Commissioner expressed concern over how people still queue up at commercial borehole points to buy water due to the shortage of supply from the water board.

He said: “In the 1970s, we fetched from public pumps and there should be no reason for system failure that made it difficult for us to access portable water.

“Cross River saw ahead and established the best water facility in the nation but it could not manage it because of erratic power supply.

“We also have nine treatment plants.

“The Calabar plant alone can feed four other Local Government Areas (LGA) but the pipes laid 22 years ago are old and many had even been vandalised.”

Mensah continued that the State Government was taking steps to revive the water board by putting together a Cross River Water Bill, which has been passed by the House of Assembly and awaiting the governor’s assent.

He said immediately the water bill is assented to, the water commission would go into full implementation.

“This will disallow anyone to just drill borehole without proper assessment, which is dangerous to the environment,” he said.

Also, the General Manager, Cross River State Rural Water Supply and Sanitation Agency, Mr. Sunday Oko, said providing potable water was gradually becoming a challenge, especially in the rural communities.

Oko described rural communities as the “national headquarters of open defecation”, which finds its way back into the water bodies that the people consume.

According to him, Obanliku LGA was the first to attain the Open Defecation Free status but things are gradually going bad again.

He said it was not enough to provide facilities but “the facilities need to be maintained by all and not vandalised”.

While appealing to the governor to assent to the water bill, he urged all hands to be on deck for the preservation and protection of potable drinking water.

“Activities like open defecation, excessive mining and many other activities inimical to the environment are also negatively affecting potable water supply, we need to stop,” he said.