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
Slaboh Lauds NCDMB For Skill Aquisition of Ex – Agitators, – Participants Extol Leadership Style of National Chairman Third phase,PAP

By David Owei,Bayelsa
The National Chairman of the Third phase Ex- Agitators of the presidential Amnesty program, PAP, General Elaye Dollar Slaboh had given kudos to the Management of the Nigerian Content and Monitoring Board ( NCDMB ) for the privilege it gave by selecting sixteen delegates to participate in the five day youth empowerment on high selling self reliance skill digital marketing and data analysis program organized for Niger Delta Youths, just as he pleaded for more of such programs for it’s members which he has been advocating as such trainings will go along way to augument their monthly stipends.
The initiative was held in collaboration with the leadership of the PAP under General Elaye Dollar Slaboh,which has equipped participants with valuable skills to navigate today’s digital economy.
An elated Slaboh, stated this while welcoming the beneficiaries to his office, at Azikoro and commended them for being worthy ambassadors that conducted themselves orderly without misbehaving and for their exemplary conduct throughout the duration of the training and urged them to put to use the knowledge they received.
According to him, during several engagements with corporate bodies he had always agitated for for the training and retraining of the ex – Agitators under his leadership and applauded NCDMB and called on other corporate bodies to emulate NCDMB in providing opportunities for Niger Delta Youths to enable them become self reliance and shun youth restiveness for peace to reign and attract investors to the region.
He appealed to those not selected to be patient as they would be opportune in subsequent training programs which his leadership assured them to provide whenever the opportunity beckons and also warned them against selling their starter pack ( laptobs)
” To those not selected , be patient, as there are other trainings in the offing , as everyone can’t benefit at the same time”
Am proud to say members represented us very well as there was no negative reports of misbehaviour and misconduct about you throughout the five day training”
Speaking in their separate interviews, the participants who were randomly selected by the National Chairman, third phase , presidential Amnesty program, General Elaye Dollar Slaboh, had applauded and commended his leadership style for considering them worthy to be Beneficiaries of the skill aquisition training on digital analysis and marketing .
According to Alex Gift, he said he felt excited and considered it a rare privilege to be randomly selected by the national Chairman , Third phase of PAP , General Elaye Dollar Slaboh and prayed to God to continue to enlarge his coast, saying the knowledge he received about digital marketing and data analysis will equip him to advance the ever changing digital economy.
And being , gender friendly, Miss Stella said the training and knowledge was impactful and has increased her horizon on digital marketing and data analysis.
” With this training am now opportune by the exposure that my products can now be marketed globally instead of within the Niger Delta region ”
She poured Ecomiums on General Elaye Dollar Slaboh, for giving her this rare opportunity and wished him well in his current leadership position.
Also speaking , another participant who was overwhelmed by the opportunity given to him to participate in the program, Sammy Vincent, said he was very happy for being selected for the NCDMB five day skill aquisition programe on digital and data analysis for the opportunity impacted in him on the knowledge about graphic design and the gift of laptobs.
From Tonbara. W. Bai” Am so elated and lacked words to thank the National Chairman Third phase of PAP, General Elaye Dollar Slaboh and may God to bless and enlarge his coast”
He said he will not take this opportunity for granted and applauded the NCDMB management for it’s efforts in empowerment of Niger Delta Youths in the region.
Business & Economy
Senate Approves Tinubu’s $21.5bn External Borrowing Plan

By George Mgbeleke
The Senate, on Tuesday approved an external borrowing plan of $21.5 billion for the 2025–2026 Medium Term Expenditure Framework (MTEF) designed to finance key projects in critical sectors including infrastructure, security, education, health, agriculture, and human capital development.
The Red chamber also approved a ¥15 billion Japanese loan, a €65 million grant, and additional domestic borrowing of ₦757 billion through federal bonds to offset pension arrears as of December 2023.The lawmakers further gave approval to an exec request to raise up to $2 billion through foreign-currency denominated instruments in the domestic market.
These approvals, which came on Tuesday, followed the presentation of a report by the Chairman of the Senate Committee on Local and Foreign Debts, Senator Aliyu Wamakko (APC-Sokoto), at plenary. Wamakko said the loan request was in line with the already approved Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for the 2025/2026 budget cycle. According to him, him, the committee recommended the approval, as the borrowing plan is within the framework already passed by the National Assembly.
Chairman, Senate Committee on Appropriation, Senator Solomon Adeola (APC-Ogun) while supporting the motion srated that the loans were embedded in the 2025 Appropriation Act, adding that with the approval, all revenue sources, including loans, were now in place to fund the budget.
Similarly. Chairman Senate Committee on Finance, Senator Sani Musa (APC-Niger) stressed that the loans would be disbursed over six years and assured that Nigeria was in a good position to utilise the loan and pay back as agreed with the creditors. Musa ruled out the fears in some quarters that Nigeria’s debt profile was becoming too burdensome, stressing that Nigeria had never defaulted on any of its liabilities.
However, Senator Abdul Ningi (PDP-Bauchi) raised concerns over the absence of repayment details and how the loans would directly impact constituents.
“We must tell Nigerians exactly how much is borrowed in their name and for what purpose,” Ningi said.
inclusiveness.
Business & Economy
N- Power : Senate Intervention rekindles hope for beneficiaries on outstanding N81billion Allowance

The Senate Tuesday rekindled the hope of beneficiaries of N- Power programme across the country on payment of outstanding N81billion monthly allowance by the Federal
Government.
Intervention of the Senate came through its Deputy President, Senator Barau Jibrin who brokered understanding between the Federal Government , aggrieved beneficiaries of the scheme who are still being owned 2022, 2023 monthly allowances totalling N81billion and their counsel, Barrister Abba Hikima .
After about two hours tripartite meeting in his office , the Deputy President of the Senate told journalists that the beneficiaries being owed months of unpaid allowances which were inherited by the current administration , have agreed to stop their intended litigation against the federal government .
He said : ” The beneficiaries came here to the Senate to seek for my intervention. And then I called the Minister, and the Minister was very responsive.
“He came on board, and there was a fruitful discussion that led for them to understand that the Minister had already gone very far in making preparation for the money to be paid.
“So having gotten convinced that there is a clear intention on the part of government to get the money paid they now decided to back down and stay action on the legal route to get the money paid and I showed them that this is a government that is responsive and really up and doing in terms of making sure that nobody suffers in terms of getting what is due to them in line with the renewed hope agenda of President Bola Tinubu .
“Though the problem is inherited but the present government as clearly stated and assured by the Minister of State for Housing and Urban Development, is doing every thing possible to solve it with payment of allowances owed the beneficiaries”
Also explaining the outcome of the meeting , the Minister said intervention made by the Deputy President of the Senate , yielded positive results for parties concerned which are , the federal government and the beneficiaries of the N – Power programme .
” I want to first thank the Deputy Senate President for convening this meeting for us to treat the case that has been for years now, the issue of payment of the backlog of our end-power beneficiaries, which we are owing, or owing them.
“We acknowledge the fact that we are owing them, and we know we are owing them, but it was actually part of the 2022 and 2023 budget that was not paid to them, and because it was recurrent, it passes along with the year’s budget.
“There was no provision for it in 2024 and 2025, so we sought for it at the service-wide vote. We got approval, but it was late for last year, so we are working on the approval for this year to ensure that once we get the budget implementation for this year 2025, we have to find a way of making those payments to the beneficiaries.
“I think being a responsive government, we’re not denying the fact that we have that as part of the issue we need to resolve and it will surely be resolved before the year runs out “, he said
Confirming the stay of litigation due to the intervention, the counsel of the beneficiaries , Barrister Abba Hikima said : ” As explained by the Honorable Minister, the government is owing my clients about N81billion and he has given us his words that they are working on it and they are waiting for this year’s budget to begin to be implemented, and that as soon as the budget is being implemented, they can get access to their money.
“Although I’m their lawyer, but I really appreciate the effort of the Deputy Senate President who, despite the fact that he is not directly affected by this, took it upon himself to convene this meeting, as well as the Honorable Minister of State and as well as the Humanitarian Minister.
“They are all here and they have all given us their words, and we have taken them for it, and we are confident and hopeful that in the nearest future, within the year, definitely, this money is expected to be paid”.
The Chairman of the N- Power beneficiaries in Nigeria , Kehinde James thanked the Deputy President of the Senate for his intervention and the two ministers for their assurances .
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