Business & Economy
Bayelsa To Hold Mega Entrepreneurship And Business Innovation Summit
By David Owei, Yenagoa
The Bayelsa state Government is to hold a mega Entrepreneurship and Business Innovation Summit, the biggest of it’s all because the state have never had in this way. The event will take place 23rd October and dignatries expected include the Managing Director and Chief Executive Officer of Innoson Motors, Chief Innocent Chukwuma, Dr Maduka, CEO of Coscharis,Chief Robert Enogha, President of Ayala Group of companies, amongst others.
The Technical Adviser to the Bayelsa state Governor on Entrepreneurship Development, Mrs Charity Ken Godwin stated this while fielding questions from journalists ahead of the Entrepreneurship and Business Innovation Summit, saying it is going to be an impactful for Entrepreneurship in Bayelsa state as successful business men will share their experience. “But with these great men that have actually made it in life, sitting under one roof is going to be additional knowledge to our people who are into business or intend venturing into business”
She also disclosed that from inception, her office has trainer 5,150 persons and commended the state governor senator Douye Diri who made it possible for their training and also gave them starter pack at the end of their trainings.
” At the last one we had, 3,500 were trained and starter pack were given 2,850 that were qualified . The programm has benefitted a lot of Bayelsans and non – indigenes”
She reiterated that when Governor Douye skills aquisation started February 6th 2021 has been consistent and thousand that has passed through it have become self reliance and has brought life and destiny to a lot of Bayelsans who have learned various skills.” Most of them no longer depend on anybody for survival, they are standing on their own as business owners”
Speaking on the inspection of the background of the inspection of the gas turbines by Governor Douye Diri, she said when the gas turbine is install it will change the narrative of the economy , as business owners will no longer struggle to purchase diesel or fuel to run their enterprises. ” I took time to come and see the Gas Turbines to be installed, with this now, our business that are suffering with a lot shut down and some who moved outside Bayelsa state will have to come back”
Business & Economy
Senate Confirms Mukhtar, Gamawa RMAFC
By George Mgbeleke
To ensure effective service delivery in the Revenue Mobilization, Allocation and Fiscal Commission (RMAFC), the Senate has confirmed Abdullahi Mukhtar and Amina Gamawa as Commissioners representing Kaduna and Bauchi states respectively in the Commission.
The Senate made the confirmation following
Senate’s consideration of the report of its Committee on National Planning and Economic Matters during plenary at the National Assembly Complex, Abuja.
Senator Augustine Akobundu, who represents Abia Central Senatorial District, stood in for the Chairman of the Committee, Senator Musa Mustapha, and moved the motion for consideration and approval of the nominations.
Presenting the Committee’s report, Akobundu, who represents Abia Central Senatorial District, told the Chamber that the nominees are competent and qualified for the job for which they were nominated by President Bola Tinubu.
During the screening of Mukhtar on Tuesday by the Committee on National Planning and Economic Matters, members of the Panel observed that he had made several appearances to the Senate for confirmation in his previous appointments.
For instance, when Abdullahi Mukhtar, who is a former Chairman of the National Hajj Commission of Nigeria (NAHCON) was appointed under the administration of the late President Muhammadu Buhari, he was screened and confirmed by the Senate.
Therefore, the Committee argued that since he was found worthy by the Senate to serve Nigeria in that capacity and other capacities, there was no need to subject him to rigorous interrogation.
A member of the Committee, Senator Osita Izunaso, therefore, moved a motion that he should be granted the honour to take a “bow and go”, a request that was overwhelmingly adopted by members and he took a bow and left.
“Mr Chairman and Distinguished colleagues, in line with our tradition, the nominee before us for the position of Commissioner, Revenue Mobilization, Allocation and Fiscal Commission (RMAFC), is well known to us, having screened him in the past for some other very important positions like Chairman, National Hajj Commission of Nigeria (NAHCON).
Following Senate procedure, Senate President Godswill Akpabio referred the confirmation process to the Committee of the Whole. The appointments were put to a voice vote and approved by Senators.
After the confirmation, Akpabio advised the new appointees on the importance of their offices, stressing the need for them to live up to expectations and discharge their duties with diligence.
President Bola Tinubu had written the Senate seeking the confirmation of the two nominees to serve as Commissioners in the Revenue Mobilization Allocation and Fiscal Commission in accordance with Section 154(1) of the 1999 Constitution (as amended).
This request was referred to the Senate Committee on National Planning and Economic Affairs, with a mandate to report back to the Red Chamber within one week.
President Tinubu in his letter, emphasized that these appointments are critical for the continued transparency and efficiency of federal agencies.
Business & Economy
Niger State Moves to Sanitize Mining Sector, Tackles Illegal Activities
BY UTHMAN BABA-NASEER,MINNA
The Niger State Government has reaffirmed its commitment to reforming and regulating the mining sector to boost economic growth and protect local communities.
The Commissioner for Mineral Resources, Muhammad Qasim Danjuma stated this during an interview with journalists, where he highlighted ongoing efforts to address illegal mining and attract genuine investors into the state.
Danjuma described Niger State as one of the most blessed in Nigeria in terms of mineral deposits, noting that proper management of these resources could significantly improve the state’s economy and infrastructure.
According to him, “Niger State has witnessed several administrations since its creation in 1976, but the current era is bringing remarkable transformation across all the 25 local government areas, especially in infrastructure development.”
The Commissioner commended the leadership of Governor Mohammed Umar Bago, describing his emergence as a “divine opportunity” for the people of the state. He said the administration has demonstrated strong commitment, dedication, and visible development projects, unlike previous governments that made promises without delivering.
Speaking in the mining sector, Danjuma explained that the Ministry of Mineral Resources was created in 2017 after being separated from the Ministry of Environment. Since then, efforts have been made to reposition the sector for better performance.
He, however, identified illegal mining as a major challenge affecting the sector. According to him, many individuals and groups operate without proper licenses or community consent, thereby causing environmental damage and security concerns.
“Illegal miners and some cartels are exploiting the state’s resources for personal gain. This is a serious problem we are working hard to address,” he said.
The Commissioner explained that for anyone to operate legally, they must obtain a valid license from the Federal Ministry of Solid Minerals Development and also secure consent from host communities and clearance from the state government.
He further noted that the state has introduced new procedures requiring mining companies to engage host communities, ensure environmental protection, and contribute to local development through Community Development Agreements (CDAs).
Qasim Danjani added that the government is also encouraging artisanal miners to form cooperatives, which will enable them to operate legally and benefit from government support.
“We are working to formalize their activities, provide guidance, and ensure they contribute positively to the economy,” he said.
On enforcement, the Commissioner disclosed that several illegal miners have been arrested, while operations are ongoing to identify and remove others across the state.
He also emphasized the importance of collaboration with security agencies and federal authorities to curb illegal activities and prevent insecurity linked to unregulated mining.
The Commissioner assured that the government is creating a conducive environment for both local and foreign investors, stating that registered companies operating legally in the state are given full support and protection.
“If properly managed, the mining sector can generate revenue for the government and fund critical projects such as roads, hospitals, and other infrastructure,” he added.
Danjuma reiterated that the ultimate goal of the government is to ensure that mining activities benefit the people of Niger State while safeguarding the environment and maintaining peace in mining communities.
Business & Economy
Tinubu seeks NASS approval for Fresh US$516,333,007 loan for construction of Sokoto-Badagry Superhighway Project
By George Mgbeleke
President Bola Ahmed Tinubu on Thursday requested the National Assembly to formally prove a foreign loan to the tune US$5168,333,007 for the construction of Sokoto-Badagry Superhighway Project.
In a letter addressed to the President of the Senate, Senator Godswill Akpabio and read to Senators at the Thursday plenary, President Tinubu urged the lawmakers to prove the proposed foreign loan for financing arrangement of a syndicated loan facility of US$516,333,007 for construction of the Sokoto and Badagry Superhighway Project.
The official communication reads:
“The purpose of this communication is to formally request the resolution of the National Assembly, pursuant to the provisions of Sections 16 and 21 of the Debt Management Office (Establishment) Act, 2011, to approve a proposed foreign financing arrangement of a syndicated loan facility of US$516,333,007 for the construction of the Sokoto–Badagry Superhighway Project.
“Specifically, approval is sought for:
A. The syndicated financing facility from Deutsche Bank in the total sum of US$516,333,007 for the execution of Sections 1, 1A, and 1B of the Sokoto–Badagry Superhighway Project.
B. The inclusion of the said financing in the Federal Government’s borrowing plan, as earlier approved by the National Assembly.
The Senate is invited to note that the Sokoto–Badagry Superhighway is a flagship infrastructure initiative under the Renewed Hope Agenda.
“The project is designed to open up Nigeria’s northwest–southwest economic corridor through the construction of an approximately 1,000-kilometre high-capacity carriageway, linking Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos States, stretching from Illela to Badagry.
“The project is expected to:
Enhance north–south connectivity and road safety
“Improve network performance along the corridor
“Reduce logistics costs and travel time
“Facilitate trade and strengthen food security.”
Continuing the statement added, “Promote national integration by linking production zones to markets and ports
Provide long-term intermodal flexibility through provision for future rail integration and utility corridors
“The proposed financing arrangement comprises a syndicated loan to be secured through Deutsche Bank AG, supported by a partial risk guarantee from the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the insurance arm of the Islamic Development Bank.
“The Federal Government will provide counterpart funding in the sum of ₦265,542,689,569, covering land acquisition, compensation, and ancillary infrastructure.
“The loan has a tenure of nine years, including a grace period of up to three years, with an interest rate not exceeding the Chicago Mercantile Exchange (CME) SOFR plus 5.3 percent per annum.
“The Federal Executive Council has approved the financing arrangement and its terms.
“In light of the foregoing, approval is hereby requested from the National Assembly for:
The syndicated loan facility of US$516,333,007
“The inclusion of the facility in the borrowing plan
“The execution of Sections 1, 1A, and 1B of the project, covering approximately 120 kilometres
“A draft resolution is attached for ease of reference.”
He expressed optimism that he looks forward to the expeditious consideration and approval of this request by the Senate.”
Meanwhile,Following the presentation of the President’s request, the letter was referred to the Senate Committee on Local and Foreign Debts, with a directive to report back within one week.
Contributing to the debate, Senator Adamu Aliero commended the President for initiating what he described as a landmark project that had remained on the drawing board for over five decades.
He noted that the project is already taking shape, citing firsthand inspection of completed and ongoing sections.
According to him, the superhighway—constructed using reinforced concrete and equipped with solar-powered street lighting—meets modern infrastructure standards.
The senator stated that significant portions of the road pass through multiple states, adding that the project would drastically reduce travel time between Sokoto and Lagos from approximately 13 hours to about six hours.
He described the initiative as transformative, with the potential to positively impact the northwest, north-central, and southwest regions of the country.
Senator Aliero urged his colleagues to support the project by approving the report of the Senate Committee on Local and Foreign Debts once it is presented.
In his remarks, the President of Se Godswill Akpabio, who presided over the plenary, aligned with the position, describing the project as a major economic game changer capable of saving lives and boosting national productivity.
He emphasized that borrowing for critical infrastructure is justified, particularly where such investments yield long-term economic benefits and can facilitate repayment through generated value.
The Senate leadership subsequently urged the committee to expedite its review to enable timely consideration and approval.
-
Politics12 months agoGov Okpebholo moves to end Cultism *Threatens action against leading cult groups *Vows to demolish more cult houses in Edo State
-
Politics8 months agoASUU-NDU protest against FG loans, unpaid salaries,Non-Implementation of agreements …..says loans is generational slavery
-
Business & Economy9 months agoPC-NCG Issues Disclaimer on Purported Nigerian Coast Guard National Orientation Exercise In Anambra State
-
Entertainment2 years agoJubilation galore as Parishioners of CKC Kurudu celebrate their cultural heritage ….FG should exploit our Cultural heritage to unite Nigerians-Rev Fr Dim
-
General News2 years agoReps hold public hearing on FMC Ugwuaji Awkunanaw
-
Sports2 months agoBayelsa-born ex-football star’s son, Opuama donates spike shoes to Athletics Association
-
General News2 years agoCelebration galore as UDA Successfully Elected New Exco ……I will digitalize processes that will raise UDA to greater height -Comr. Okejiri
-
Law & Crime10 months agoLegal practitioner raises alarm over threat to his life by CSP Muhammed Abdulkareem
