Business & Economy
Senate seeks approval of N10bn to finance literacy devt. in Capital Market

The Senate through its Committee on Capital Market, on Tuesday, asked the Minister of Finance, Mr Wale Edun, to approve N10 billion special funding to finance literacy development in the capital market.
Chairman of the Committee, Sen. Osita Izunaso, made the appeal when Edun and the Director-General, Securities and Exchange Commission (SEC), Dr Emomotimi Agama appeared before the committee for an interactive session.
Izunaso who decried that only 5,000 investors were in the capital market, said that a special fund for the sector would help in boosting the it.
“We are asking for an intervention for capital allocation, a special funding to finance literacy development in the capital market because that is where the problem is.
“So, if you do that, we will be happy and the capital market will blossom. You will get our letter in that regard today after this meeting.
“That is the hallmark of what Sen. Victor Umeh said. Most of them (investors) lost their money through this capital market system. People lost money; people have not regained confidence and we are pushing them,” Izunaso said.
Sen. Victor Umeh (LP-Anambra) had earlier said that the capital market was a very essential indicator of “the health of any economy” and how the capital market operates across the world.
He said: “From the past experience from the capital market, a lot is expected to be done to restore public confidence on the Nigerian Stock Exchange.
“Been able to restore public confidence is key to the operations in that sector. Why we said this is because what we saw was a shock and traumatic experience where investors in the market lost all their funds”.
For the Chairman Senate Committee on Finance, Sen. Sani Musa, he said that the request for N10 billion for literacy and enlightenment needed to be done.
“We need to see how we can take money out from the budget for the campaign,” he said.
In his remarks, the Minister of Finance, Wale Edun, said that in as much as President Bola Tinubu has set up a target of 1 trillion Dollar economy, “what matters is the vibrancy of the economy.
“This is in terms of having economic stability at the macro level in terms of the revenues, budget deficits and inflation rates.
“Such that the coming together of these major variables can create a stable environment which will improve investment including investment in the capital market through the stock exchange.
“All these are under the purview of SEC.
We now have a much more stable macro economy for investments as a result of the President’s decisive, timely intervention”.
Business & Economy
Pastor Reuben Initiative extols founder’s philanthropic gesture

By Idibhar Agadaga, Baylesa
The Director General Pastor Reuben Initiative for Good Leadership and Accountability (PRIFGLA), Eseimokumo Frank Soko has commended Pastor Reuben Wilson’s selfless contributions to the development of Bayelsa State and the Niger Delta region.
Speaking on an enlighment program on Royal FM, 95.5, Eseimokumo Frank Soko, highlighted Wilson’s commitment to education, noting that he has sponsored over 200 students across various universities in the region.
According to Soko, Wilson’s philanthropic efforts extend beyond education, as he has also provided monthly stipends to members of the Initiative ànd numerous individuals in need.
He particularly extolled Wilson’s selfless and sacrificial lifestyle which have positively impacted the lives of many Bayelsans.
He emphasized that Wilson’s charitable works is not limited to any particular political party or affiliation as beneficiaries come from diverse backgrounds including PDP, APC and Labour Party members.
On his part, PRIFGLA’s National Secretary and Special Adviser on Student Matters and Scholarships, Ogbomo Erepamowei, shared Wilson’s inspiring personal story, which has driven his passion for helping others.
Ogbomo noted that despite facing challenges in his own educational journey, Wilson has demonstrated remarkable resilience and generosity, supporting students in various institutions across the Niger Delta.
He added that over 200 students are under scholarship sponsored by Pastor Reuben Wilson in various universities across the Niger Delta region.
In a final statement, Soko expressed gratitude to Wilson, describing him as a “sacrificial leader” who has positively impacted the lives of those working with him.
Business & Economy
Three Oil Coys admit owing FG over $5.5m *As Reps Issue 2-Weeks Ultimatum For Payment

Business & Economy
New Bayelsa Secretariat: Govt Appeals To Host Communities To Maintain Peace

By David Owei, Bayelsa
The Bayelsa State Government has appealed to the people of Yenagoa and Ovom communities currently locked in a dispute over ownership of the land, where the new 9-storey secretariat is sited, to sustain their age long unity and peaceful coexistence.
The Deputy Governor, Senator Lawrence Ewhrudjakpo, made the appeal at separate meetings with the leaders and critical stakeholders of both communities in Government House, Yenagoa on Tuesday.
Senator Ewhrudjakpo, in a statement by his Senior Special Assistant on Media, Mr Doubara Atasi, pointed out that there was no need for both communities to feud over the land as government had acquired it for development purposes several decades ago.
According to the Deputy Governor, every land acquired by government with compensation paid becomes its property, stressing that all the communities lying within 15-kilometre radius from Yenagoa make up the Bayelsa State capital.
While acknowledging the sacrifices being made by the communities hosting the state capital, he assured that government would continue to protect their interests by performing its corporate social responsibility.
Senator Ewhrudjakpo, however, warned that the present administration would not fold its arms and watch any community or group of people cause crisis to disrupt the prevailing peace in the state for whatever reason.
He particularly cautioned the youths of Ovom against the alleged unwholesome practice of going to ministries, departments and agencies to demand a change in the letterheads and signboards of MDAs to reflect Ovom.
His words: “There is no long-term benefit in conflict. People can disagree, but they can reconcile their differences through the roundtable.
“Yenagoa and Ovom communities have a long history of peaceful coexistence as two sister communities in the Atissa Kingdom in the Yenagoa Local Government Area.
“As communities in the epicenter of the state capital, Ovom and Yenagoa have made huge sacrifices, and they cannot afford to fight themselves over land already acquired by government.
“Our position is that none of the communities own the land of the project site for the new state Secretariat; the ownership of that land now belongs to the Bayelsa State Government by virtue of the Capital City Development Law.
“However, government will continue to protect the interest of the communities who have donated the lands for public use and development.
“We are also receiving reports that some youths of Ovom are going to ministries, departments and agencies demanding for a change of address to reflect Ovom. That attitude is not right, and therefore, must be stopped forthwith.
“We should all know that like any other capital city in this country, the name of Yenagoa has influence over all other communities lying within the 15-km radius of the state capital, and as such Yenagoa is reflected in all addresses.”
In her remarks, the Member representing Yenagoa Constituency 1 in the State House of Assembly, Hon. Ayibanengiyefa Egba, expressed gratitude to the state government for its swift intervention and called on the communities to embrace peace as brothers to foster development and progress.
Others who spoke briefly at the two meetings include the former Technical Adviser to the Governor on Conflict Resolution, Chief Boma Spero-Jack, Hon. Markson Fefegha, Chief Couple Anyamalem, Chief Stephen Abaribote, and Chief Loveday Abaribote.
Top government functionaries present included the commissioners for works, information, marine and blue economy, lands and survey, and that of community development.
Also in attendance were the Chairman of Yenagoa Local Government Area, Hon. Bulodisiye Ndiware, the Acting Surveyor General of Bayelsa State, Geku Tonye Margareth; the Technical Adviser to the Governor on Boundary Matters, Hon. Salem Vote, among others.
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