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‘Economic Summit Capable Of Launching Rivers Into Economic Giant’

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The Mayor of Housing, Mr Ace China, says the economic summit which opens in Port Harcourt today is capable of launching Rivers State into an economic giant with fast growth.
The real estate success strategist said the summit has good news for the State, which he noted would make the State to bounce back to business.
He noted that Rivers State slacked back over the years and yielded ground to Lagos and some other States in some sectors of the economy, contending, however, that a turnaround might have come.
Speaking in Port Harcourt in an interview ahead of the summit, Mr China, a real estate success strategist and Chief Executive Officer of the Housing and Construction Limited, said the good news is that time has come to reverse the downward trend.
Assuring that Rivers State has huge potentials, the Mayor said it is time to exploit them.
For instance, he said whereas some States import sand, but that Rivers State has the best sand which is why it had a glass industry called the West African Glass Industry.
“Those who arranged that the economic summit be discussed in Pidgin English radio station are wise because it has proved that they want to carry along all categories of business operations. It means all business people are required to understand the concept and objectives of the summit.
Economic summit to a common man means think before you act. It means to arrange your economy well, know your areas of advantage and priority. Planning gives better results. It teaches you to put more money where you have advantage. So, the media and strategic media groups have been lined up to communicate the summit well. It’s necessary for brand building. It will help to build Rivers State’s economy into a brand and sell it in such a way that people will understand and assimilate it well.
It means that perception is stronger than reality. Before I came to Port Harcourt, we believed that the State was terrible and that people were dying and nothing was moving and houses were falling. Now, I have found out the realty. So, the economic summit is to separate reality from perception.
For those who ask what the Rivers State Government is willing to give as incentives to boost investment, I would first say we are not here to talk politics but valuetics. It means the value for business. So, we expect people to read and listen with neutral ears not political eyes. In that case, we can say that from the point of business, this governor has done well especially in housing. The governor has excuse not to do economic summit, he has excuse not to do flag- off of projects, or not to continue old projects. But despite all this, he has continued to do projects. Few governors can do that kind of thing. He pursues peace because he thinks that where two elephants fight, the grass (the common man) will suffer. The best that touches my mind is the 20,000 housing schemes he initiated soon after inauguration. Even the Federal Government has not done 20,000, let alone States. No housing estate in Port Harcourt is up to 20,000 and all put together is not near 20,000. Even one major estate in this city is just 1000.
So, the summit is to look at where the governor has done well and where to adjust. They will review the roads and other projects. The best bridge is the one that connects lands or flying over waters. The state government has shown focus and value so far despite the situation on ground, but can do more. If he settles down, he will do wonders. As he listened in the housing sector, he will listen in other areas. His public private partnership (PPP) system in the housing scheme was great. What worries land developers is land acquisition and land papers. Sometimes they kill people just to get land. The Governor secured the land and made the developer to only face building. He also asked the developer to take direct labour, and that would give jobs to over 60,000 people. They are hiring many people. About 10 industries are involved in that project; sand industry, cement industry, electrical industry, etc. He wants to show the world that he is ready and that Rivers State is ready.
On Certificate of Occupancy (CofO) issue, in his one year in office, he has signed more Certificates of Occupancy than all others before him. The problem is most governors make Certificate of Occupancy look like getting kidney. So, we admire the man for this from the building subsector. I tell people to watch Rivers. Now, Abia is doing well, and he has got close to the governor of Abia State, Dr Alex Otti. The economic collaboration between both men is much.
One of my friends said before any farmer will plant, he levels and softens the ground. The major discovery we have made is that the first year is used to prepare the land. Civil servants have been treated well. They got N100,000 each for Christmas, got promotions, pension, etc. This communicates good message and investors like it. Now, three roads alone got N501.2billion in one year. Investors will be impressed by these early signs.
On potentials of Rivers State
All hands are not equal, so some States are richer and others are not so wealthy, especially in terms of internally generated revenue (IGR). In the case of Rivers State, because it is the Treasure Base of the nation which is the hydrocarbon (oil/gas) industry which is Nigeria’s economic mainstay, Rivers State is high on IGR and in wealth generation. So, when Rivers State coughs, Nigeria catches cold.
Rivers State ought to continue to be investors haven as it was in the beginning when wealth was based on productivity. At that time, Rivers State excelled in farming and port system to convert produce to export. Production without export is food. Roads and ports made Port Harcourt tick. What made Lagos important was federal capital presence. It was in Port Harcourt that business was thriving and life was bubbling. It was indeed the Garden City of Nigeria.
It was oil that brought easy money that made people abandon agricultural activities. Politics later came and made it worse. Politics made people to abandon industries and hustle. It made youths to believe that if you don’t disturb (cause violence), you will not be noticed and settled or included.
Fleeing businesses from other parts of Nigeria seem to head to Port Harcourt.
For over 20 years, fleeing investors from the North seem to have been running mostly to Port Harcourt. There is migration of business in Nigeria. That could be why Oyigbo is expanding steadily. Now, such threats to businesses seem to have reared its head in Lagos to make that place a new danger zone. It is the duty of Port Harcourt to prepare land and housing to welcome migrating businesses again.
The Nigeria Export Promotions Council (NEPC) had done an assessment of the One-State-One-Product (OSOP) scheme where a state chose which crop to specialise in and later do export and earn foreign exchange. Rivers State Government chose oil palm and added cassava. This has been for over five years but many say there has been no deliberate effort to develop these two and get their farmers to export readiness. If well managed, cassava will become an export product. See Songhai Farm initiative where the government sunk in many billions of naira, it has been allowed to rot instead of selling it because there were offers. There are several companies waiting to be revamped and privatised. At the economic summit, the government will list such companies and a handbook will answer the questions.
I carefully observed one thing over the thanksgiving events round the state. It gave me an idea. I was looking from an investment point of view. There is a book called the emotion of economics. Gloom is doom, and bloom is boom. When people are happy, things boom. A smiling face sells more. There has been no fight at the rallies, but joy and happiness. So, the people seem to be happy and this is the foundation of a start of an economy.
Agriculture is now failing in the north because of banditry, terrorism, and violence. They can’t access fertilizer anymore but that is what Rivers state produces at Indorama. That is the difference. If you create security in Rivers State on top of other values, investors will flock in.
As an active player in the real estate sector, and they say that sector is the next oil/gas, I will say the sector has a lot to contribute to the economy of Rivers State. This is because house is one of the three basic needs of man (food, shelter, clothing). You can manage one cloth. You can’t manage hunger because its no respecter of persons. Food is land-based and so its real estate. Real estate provides competitive housing. Migration has also started in Lagos. One house is built by 35 persons but if one is demolished, you scare away 35,000 persons. More persons are coming this way.
Role of Government in real estate
So, the role of government in real estate is to first is to systemize the land business; put it in the system. Meet the aboriginal owners, settle with them, register the land in the Ministry. This will remove land grabbing. As the land is changing hands, the system will keep indicating. All land being safe gives investors confidence.
Ease of Doing Business:
EoDB is another forte. There should be fixed amount to be paid for certificate of occupancy and when this is done, it should not take 21 days to pick it up, without knowing the people in government. Also, the government should issue land use regulation which stipulates what you can and cannot build in any area. The governor must put people that are trusted and not involved in politics like Olusegun Obasanjo did when he put the late Prof Dora Akunyuli in charge of drugs and food (NAFDAC).
Entertainment is another critical area:
Beyond cassava and oil palm, there is huge potential for agriculture. This is because river is source of wealth (fishing, leisure, etc, and the state is called Rivers State. There was Carniriv at one time. Those days of Rex Lawson made Port Harcourt the happening centre. Companies were paying entertainers. Now, it looks like if you don’t migrate to Lagos, you won’t succeed.
It is painful that most of the projects that others use to come first now were once started in Rivers State; power, palm kernel, monorail, airline, etc. .
Expectations from the summit:
The governor is the chief host and so he will unveil his plans and incentives. Without a summit, he started the 20,000 housing project, roads to riverine areas, etc. So, the summit will show him priorities, and EoDB, new offices to enhance business, incentives, tax waivers, etc. Abia State is now boasting with steady power. Rivers was first in that area. The healthy competition between Abia and Rivers will begin. Major impact will be rapid development in places such as Oyigbo as gateway towns.”

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Tinubu Appoints Four Nominees Into NCDMB Governing Council 

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President Bola Tinubu has approved the nomination of four new members to the Governing Council of the Nigerian Content Development and Monitoring Board (NCDMB).

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, in a statement yesterday, said the appointment is to fill existing vacancies and strengthen the board’s capacity.

The statement said the approved nominees are Mr. Olusegun Omosehin of the National Insurance Commission and Engr. Wole Ogunsanya of the Petroleum Technology Association of Nigeria.

Tinubu also endorsed the nomination of Sam Onyechi, who represents the Nigerian Content Consultative Forum and Barrister Owei Oyanbo from the Ministry of Petroleum Resources.

The President encouraged the new members to leverage their expertise and dedication to enhance local content development within Nigeria’s oil and gas industry.

It added, “The nominations arose from the exit of previous institutional representatives from the Governing Council.

“The NCDMB Governing Council, established under Section 69 of the Nigerian Oil and Gas Industry Content Development Act, 2010, comprises representatives from key institutions.

“These include the Ministry of Petroleum Resources, the Nigerian Upstream Petroleum Regulatory Commission, the Nigerian National Petroleum Company Limited, the Petroleum Technology Association of Nigeria, the Council for the Regulation of Engineering in Nigeria, the Nigerian Content Consultative Forum, and the National Insurance Commission.”

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NDDC To Construct Hostels, Roads In UNIPORT – Ogbuku

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The Niger Delta Development Commission (NDDC) has announced plans to construct additional hostels, rehabilitate roads, and enhance power supply in the University of Port Harcourt (UNIPORT).

NDDC’s Managing Director, Dr Samuel Ogbuku, disclosed this during a visit to the commission’s headquarters in Port Harcourt, yesterday by a delegation from the UNIPORT’s Governing Council.

Ogbuku stated that the NDDC had committed to upgrading facilities at UNIPORT as part of efforts to foster partnership with educational institutions across the Niger Delta.

According to him, the implementation of additional projects at the university forms part of a broader strategy to improve education standards in the region.

“Aside from the construction of new hostel blocks and installation of a 300 KVA solar inverter system, the NDDC will also facilitate more projects in the university.

“The commission will also deploy its engineers to assess the condition of UNIPORT’s roads and hostels for potential rehabilitation,” he said.

Ogbuku noted that upon completion, the projects would add to various initiatives previously undertaken by the commission at the university.

“These and other projects reflect our commitment to actualising President Bola Tinubu’s Renewed Hope Agenda in the Niger Delta region,” he added.

He reaffirmed the NDDC’s dedication to fostering development and strengthening partnerships across the region.

Earlier, Sen. Mao Ohuanbunwa, Chairman of UNIPORT’s Governing Council, who led the delegation commended the current leadership of the NDDC for its achievements in accelerating development in the Niger Delta.

He highlighted the university’s infrastructural challenges, noting that it lacked adequate facilities to accommodate its growing student population, and appealed for the NDDC’s support in addressing the shortfall.

“Currently, UNIPORT has a total student population of about 50,000, while its hostel accommodation capacity can only cater for 5,000 students.

“We therefore urge the NDDC to assist in the construction of additional hostels, improve transportation facilities, and facilitate the acquisition of gas turbines to enhance power supply for our students,” Ohuanbunwa pleaded.

The Vice Chancellor of UNIPORT, Prof. Owunari Georgewill, commended NDDC for its impactful projects across the Niger Delta and extended an invitation to the commission to participate in the institution’s forthcoming 50th anniversary celebrations.

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Senate Rejects Motion To Rename INEC Headquarters After Humphrey Nwosu 

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The Senate has rejected a motion to rename the Independent National Electoral Commission (INEC) headquarters after the former chairman of the defunct National Electoral Commission, late Prof Humphrey Nwosu.

Nwosu presided over the June 12, 1993, presidential election, which was truncated by the former military President, General Ibrahim Babangida (rtd).

The election which was won by the late business mogul, Chief MKO Abiola, was adjudged to be the freest and fairest in the electoral history of Nigeria.

The motion to rename INEC after Nwosu was re-sponsored by Senator Enyinnaya Abaribe yesterday after lawmakers threw it out last Wednesday.

Abaribe called for posthumous national honours to be conferred on Nwosu in recognition of his role in Nigeria’s democratic evolution.

However, the proposal sparked a heated debate once again, with lawmakers deeply divided over Nwosu’s legacy.

Senator Osita Ngwu acknowledged that Nwosu operated under a military regime, which restricted his ability to announce the results.

He argued that “there was no way he would have announced the results with a gun to his head. That doesn’t change the fact that some of us see him as a hero.”

Senator Austin Akobundu, however, described it as most uncharitable for lawmakers to dismiss Nwosu’s contributions, insisting that he deserved a place in Nigeria’s hall of honour.

On the other hand, several senators like Senator Jimoh Ibrahim dismissed the idea outright, questioning why the Senate should honour someone who failed to announce the results insisting that “nothing should be named after him”.

Senator Cyril Fasuyi argued that history does not reward efforts, but only results.

“As long as he did not announce the result, whether under duress or not, I am against naming INEC headquarters after him,” he submitted.

Also, Senator Sunday Karimi criticised Nwosu for lacking the courage to speak out, while Senator Afolabi Salisu warned that immortalising him would undermine the memory of MKO Abiola, the widely accepted winner of the June 12, 1993, annulled election.

“Any attempt to do anything beyond a one-minute silence is to rubbish Abiola’s legacy,” he tendered.

After intense deliberation, most senators rejected the motion through a voice vote.

They, however, agreed to honour him with a one-minute silence and extend condolences to his family, effectively dismissing the other prayers to immortalise Nwosu.

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