Business & Economy
NUJ Cooperative Thrives as Journalists Embrace Savings Culture for Financial Security
By David Owei, Bayelsa
The Nigeria Union of Journalists (NUJ) Cooperative in Bayelsa State is making a significant impact on the lives of journalists, encouraging a culture of saving and financial independence.
The Cooperative which started as a small initiative about ten years ago, to help members manage their finances before payday has grown into a reliable system of savings and investments.
It has continues to grow, providing financial relief and security for journalists in Bayelsa State. With its increasing membership and benefits, stakeholders are optimistic that more journalists will embrace the initiative, ensuring long-term financial stability in the profession.
Speaking during the NUJ Cooperative AGM to celebrate a successful 2024 at the State Council Secretariat, the Cooperative team lead, Mr Hussain Sheriff, revealed that many journalists who initially struggled to set aside money are now consistently saving up to fifty thousand naira monthly.
He emphasized that the cooperative has helped members cultivate financial discipline, ensuring they have funds to fall back on, especially during the festive season.
He said, “The cooperative started as a way to support members to be able to hold themselves before salary comes at the end of the month. The design is very simple, almost very insignificant interest, so that you can take a loan, hold yourself by end of the month, you now pay.
“But along the line, it has blossomed. We realized that a lot of people are ready to even save a lot of money, so that by December, they are able to tap into that money and use it to help their family.
The Director General of Bayelsa State New Media, Dr. Samuel Oredipe,
highlighted that the cooperative has been running successfully for almost a decade. He noted that membership continues to grow and encouraged journalists to embrace the habit of saving, no matter how little they earn, as it provides financial stability and support in times of need.
“I will like to encourage as many as possible, that no matter how little that you think you earn, you can save something reasonable from it and that you will be okay to a great extent in solving your immediate needs and that is what is key to me.
“So I am happy that I am with my friends and colleagues whom we share this cooperative together just to wine and to relax. I am also happy that we are increasing in number by the year, I just heard a few more addition of members into the NUJ Cooperative Society. I think it is good for us that we are growing”, Oredipe said.
Former NUJ Bayelsa Chairman, Tarinyo Akono, who played a key role in registering the cooperative, acknowledged the financial struggles journalists face, especially those in the private sector. He explained that the cooperative offers loans at minimal interest rates, unlike banks that impose strict repayment conditions. According to him, the initiative has been a lifesaver for many journalists.
He said, “I wouldn’t say journalists are poor people but I know that our remuneration is poor particularly those in the private sector. So while I was chairman, I mooted this ideal to register the cooperative in the name of the NUJ and then we started this process. We have assisted ourselves so much with this cooperative.
“For me, it is an opportunity to save, even though you might be saving else where. It is going to relief you going to the bank to take a loan and then stress yourself paying back. The situations are not the same at all. The interest here is very minimal, we don’t need to put you under pressure like the other regular Banks to pay back. That is why we encourage journalists to join.”
Tife Owolabi, Chairman of the Federated Correspondents Chapel, stressed the importance of saving, likening it to preparing for a “rainy day.” He urged journalists who are not yet part of the cooperative to join, stating that having savings readily available is a better alternative to seeking financial help from others during emergencies.
“I encourage NUJ members and others who have not keyed into this to actually join because you can never know when the need will come and when we are together in like minds, you can always believe that you will see a bail out at any given time. So, if you are not in the NUJ Cooperative, you are missing.
“Saving culture is actually good thing for any person especially for some us journalists who don’t really collect salary, the little thing you see one way or the other, just have that culture of saving and you will see that whenever the need arises, you are using it to solve your problem rather than going to beg people for help all the time”, he said.
Also, a female member of the Cooperative from the Ministry of Information Chapel, Mrs. Patient Nick Osuto, shared how the cooperative has been particularly beneficial for female journalists who also manage households. She explained that saving throughout the year allows them to comfortably afford bulk purchases during festive periods.
She said, “We developed a culture of saving from January to December, at least any amount you can save, maybe Ten Thousand or any amount you think you can save. It has been helping because at the end of the year, this money we have saved from the beginning of the year, is going to be shared, so that by the time you get your alert, that time you will feel very amazed how much you have save.
“I want to encourage other female journalists to come and join. It is not a bottleneck association, just feel free and join. Anybody can join as far as you are a journalist, you are welcome.”
Business & Economy
Bayelsa Assembly Hopeful Unveils Blueprint On Human CapitL development
By David Owei,Bayelsa
Standard bearer of the Peoples Democratic Party (PDP) for Ogbia Constituency one in the 2027 elections into the Bayelsa State House of Assembly, Hon. Whoknows Azibola Odoko has said he would focus on human capital development, amongst others if he is elected into the State legislature.
Odoko stated this during a chat with Journalists in Yenagoa, the state capital yesterday.
Our source gathered that ex-President Jonathan is also a constituent of the Ogbia constituency one.
He said the era of voting for candidates who abandon constituents upon their elections was over, noting that there was nothing better than empowering and building constituents so that they can eke out a living for themselves.
The assembly hopeful averred that if elected, he would amongst other empowerment programmes roll out an educational support scheme for the training and retraining of his constituents.
He also pledged to facilitate the provision of jobs for constituents who have the requisite skills and credentials for employment, saying that under his stewardship as a lawmaker the constituency will heave a sigh of relief.
Speaking on the crisis rocking the PDP, the party’s candidate noted that all the major political parties in the country have their own share of problems, emphasizing that the Peoples Democratic Party would emerge stronger and more united on or before the 2027 polls.
He said: I’ll win the election. My popularity cut across party lines in the constituency and beyond. My teaming supporters are ready and willing to convert the goodwill I enjoy from across the constituency into votes for me come 2027.
“Upon my election I’ll institute an aggressive empowerment scheme in education, jobs creation and employment generation for my constituents.
“The era of electing candidates who don’t have anything to offer to the constituency is over”.
Business & Economy
Senate approves N2.285trn FCT 2026 Budget ……Allocates 76% to capital projects
By George Mgbeleke
The Senate on Thursday passed the 2026 Statutory Appropriation Bill for the Federal Capital Territory, (FCT) approving a total expenditure of N2.285 trillion for the administration and development of Abuja.
The approval was sequel to the presentation of the harmonised report of the Senate and House of Representatives Committees on the FCT during plenary.
Vice Chairman of the Senate Committee on FCT, Senator Austin Akobundu, presented the report on behalf of Committee Chairman, Ibrahim Bomai.
According to Akobundu, the budget is based on a projected revenue estimate of N2.385 trillion as it allocates N165.7 billion to personnel costs, N378.2 billion to overhead expenditure, and N1.741 trillion to capital projects across the territory.
He said 76.19 per cent of the total allocation is devoted to capital expenditure, while recurrent expenditure accounts for 23.8 per cent.
The appropriation, he added, complied with constitutional provisions and followed extensive consultations between the joint committees and officials of the Federal Capital Territory Administration.
“The committees met with the minister and other relevant officials of the FCTA and deliberated extensively on the subject matter,” Akobundu said.
Lawmakers described the budget as balanced and development‑oriented, with potential to accelerate infrastructure growth and improve security in Abuja and its satellite communities.
Deputy Senate President Barau Jibrin commended the proposal, calling it “top notch” and reflective of a strong commitment to infrastructural transformation in the FCT.
“Mr President, the budget is top notch. You know, I am the only one in the history of the legislature in this country that had the opportunity to serve as chairman of the appropriation committee in the House and in the Senate. So when I see a good budget I know it’s a good budget.
“A budget that has a total of N2.2 trillion and out of this, N1.7 trillion is going for capital shows his willingness and determination to continue to position FCT to the admiration of all,” he said.
Also contributing, Senator Abdul Ningi also described the budget as well‑packaged and balanced, noting that it addressed observations raised by the Senate Committee on the FCT during earlier budget reviews.
In his remarks, the Senate President Godswill Akpabio commended the committee for a job well done and urged the FCT Minister, Nyesom Wike not to relent in the development of the Territory.
Business & Economy
NNPC SCANDAL: HURIWA Blasts EFCC, ICPC, NASS, Presidency Over “CRIMINAL SILENCE” …….AS “Billions Vanish Without Accountability”
By George Mgbeleke
The Human Rights Writers Association of Nigeria (HURIWA) has expressed outrage, anger, and deep national embarrassment over the staggering failure of Nigeria’s anti-graft institutions and political leadership to act decisively on the monumental waste and alleged corruption surrounding the Nigerian National Petroleum Company Limited.
It is a massive national shame that despite over $2.4 billion reportedly sunk into the so-called Turnaround Maintenance of the Port Harcourt and Warri refineries, there is little to no tangible result to justify such colossal expenditure. Yet, those responsible walk free, uninvestigated, and unprosecuted.
In a statement signed by HURIWA’s National Coordinator Comrade Emmanuel Nnadozie Onwubiko, the group unequivocally condemned what it describes as the disgraceful inertia of the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC), which have failed woefully in their statutory duties to arrest, investigate, and prosecute those indicted in this apparent economic sabotage.
“Why are the officials responsible for this monumental waste not in jail?” HURIWA demands.
“What exactly are the EFCC and ICPC waiting for? Must Nigerians continue to tolerate impunity of this scale?”
Even more disturbing, HURIWA accuses the National Assembly of Nigeria of turning what should be a serious probe into a political charade designed to generate campaign slush funds rather than deliver justice.
“Otherwise, how do we explain the endless hearings without consequences? Why has no single high-profile conviction emerged from these investigations?” the group queried.
HURIWA did not spare the Presidency, holding Bola Ahmed Tinubu accountable for what it described as a “deafening silence and unacceptable inaction” in the face of what it called one of the most brazen financial scandals in Nigeria’s recent history.
“This administration cannot continue to look the other way while public wealth is looted in broad daylight. The President must act—decisively and immediately—or risk being seen as complicit,” the statement added.
The association warned that history would deliver a harsh verdict on all institutions and individuals who have failed to act.
“Posterity will judge this National Assembly harshly for what appears to be a dangerous connivance with corrupt elements within the NNPC to drain public resources meant for national development,” HURIWA declared.
HURIWA further described the latest move by the Nigerian National Petroleum Company Limited to enter yet another agreement with foreign partners as “a suspicious recycling of failed strategies,” insisting that without accountability, no reform can succeed.
The group, however, commended prominent industrialist Aliko Dangote for what it described as his courage in consistently speaking out against systemic corruption in the oil sector.
“At a time when many have chosen silence, Dangote has shown uncommon patriotism by drawing national attention to the rot in the system. His voice reflects the frustration of millions of Nigerians,” HURIWA noted.
HURIWA therefore demands:
Immediate arrest and prosecution of all officials linked to the failed refinery rehabilitation projects;
A transparent forensic audit of all funds spent on refinery maintenance;
Public disclosure of all contracts, contractors, and payment structures;
Immediate overhaul of anti-corruption agencies for failure to act;
An end to what it termed “legislative theatrics” in place of real accountability.
“Nigeria cannot continue like this. This culture of impunity must end. The looting of public wealth must stop. The time for action is now,” the statement concluded.
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