Niger Delta
Edo Earmarks N99.25bn For 2010
Edo State Governor, Comrade Adams Oshiomhole Friday in Benin City presented the 2010 budget estimates of N99.25 billion to Edo State House of Assembly. The Appropriation Bill christened: “Budget of consolidation,” exceeds the 2009 Budget by N18.66 billion representing 23 percent. The 2010 fiscal policy comprises capital projection of N60.54 billion and a recurrent estimate of N38. 71 billion. A sum of N61.358 billion is proposed as recurrent revenue which is made up of internally generated revenue (IGR) of N18 billion representing 29 percent, statutory allocation of N29. 75 billion or 48 percent and excess crude and other oil revenue put at N13.60 billion representing 22 percent. In the financial estimates, the balance of N37.89 billion will be funded with N6.6 billion from the ValuEAdded Tax (VAT), N9.23 billion from grants as well as the contribution from loans and the opening balance from the current 2009 Budget. On capital projects priorities for 2010, the Governor said the combined-proposed allocation to roads with flood and erosion control and environmental beautification is N32.6 billion which constitutes 54 percent of the total, budget proposals, adding that the primary attention on Benin City would be sustained while road construction and rehabilitation would be extended to the 18 local government areas of the state. According to Comrade Oshiomhole, there would be commencement of a new primary drainage system within Benin City that would properly channel floods into natural tributaries based on the new Benin City Storm Water Master Plan, just as the Benin Moat will experience up-grading through stone-pitching to enhance its durability for the purpose of flood control and its presentation as a tourist heritage. He said government would embark on a massive aforestation programme in 2010 starting with the raising of one million tree seedlings. Another priority area is the construction and rehabilitation of infrastructures in the education sector for which the sum of N7.5 billion is proposed. To boost agricultural productivity, N120 million is allocated for the purchase of additional tractors and implements to support farmers and farming communities in addition to other key initiatives in the agricultural sector. New fleet of mass transit buses would be acquired to strengthen the Edo Transport Service to ease the pains of commuters in a partnership arrangement with the private sector for which the initial Edo State Counterpart Funding of N372 million is provided in the 2010 budget. Also in the transport sector the State Government proposed to set up traffic management and Accident Rescue Corp while 250 million has been proposed for the purchase of emergency relief materials and N120 million for the rehabilitation and development of markets. The governor emphasized that as promised last year, the capacity of the Edo State Broadcasting Service (EBS) and The Nigerian Observer would be enhanced, hence the allocation of N100 million for the purchase of Outside Broadcasting Service (OBS) vans and other facilities to improve performance while N70 million had been proposed to acquire state-of-the art printing equipment for The Nigerian Observer. Ben-Ose Ogbemudia, Benin
News
China Alerts Rivers, A’Ibom, Abia Govs To Economic Triangle
The Mayor of Housing, My-ACE China, has alerted the Governor of Rivers, Akwa Ibom, and Abia states to what he calls an emerging ‘Economic Triangle’ within their states.
Mr China, a real estate success strategist who has won numerous local and international awards, has thus drawn the attention of the governors of the concerned states to the emerging development and has urged them to intentionally accelerate the emergence of the economic triangle.
Speaking to newsmen in Uyo, Akwa Ibom State capital at the conclusion of his business trip to the state, Mr China, who is the managing director of the Housing and Construction Mayor Limited, said the envisaged economic corridor would compete favourably with the Lagos economic hub or even better.
He said: “Talking about ‘Economic Triangle’, the only place that can wrest economic power from Lagos is Akwa Ibom, Abia, and Rivers states axis or corridor. This corridor contains more than Lagos has, if they can be interconnected with smooth roads, ports, and if their blue potentials are unlocked. They will not only wrest power from Lagos but would be more lucrative.”
The investor who is behind the emerging Alesa Highlands Green Smart City in Eleme, near Port Harcourt, said the new ‘Economic Triangle’ has a bigger potential due to massive land assets with the corridor plus blue economy and the existing hydrocarbon industry.
Explaining, Mayor of Housing said Aba (Abia State) provides the biggest fabrication capacity in West Africa to supply goods to the Gulf of Guinea; Port Harcourt provides access to the Gulf of Guinea for off-taking Aba products, and the Uyo provides deep sea port at Ibaka and international airport facilities as well as forest reserves for massive agro-economy.
He said with sea ports in Rivers State and deep seaport in Akwa Ibom, and international airports in Rivers and Akwa Ibom, Aba can focus on adequate power supply and fabrication boom to supply a new booming market around the economic triangle.
By doing this, he said, jobs would spill out in huge quantities and more manufacturers would be drawn from all over Africa to boost the fast coming African Continental Free Trade Agreement (AfCFTA). He said Nigeria would thus have two major trade nodes in West Africa; Lagos and the PH/UYO/Aba triangle.
He said goods going to or coming from Chad, Niger, and the rest of Central Africa can head to the Lagos ports or to the Ibaka/PH ports zone in the new economic triangle.
He said with power supply made stable, good roads, excellent security system, and ease of doing business enthroned in the zone, the South-South and South East would become the biggest economic nerve in the near future.
Mayor of Housing called on governors of the three states to be intentional about the new corridor, put away political differences (if any), and create this corridor by agreeing on projects each state would execute with a short period of time so the states would be linked by good roads, communication, security, trade laws, concessions to investors, etc.
He remarked that northerners were already heading to the Onne Port in Rivers State to export goods, saying creating a commission to oversee the development of the ‘Economic Triangle’ would fast-track its emergence.
He observed that people of the three states are peaceful and usually preoccupied with zeal for economic prosperity, saying that if they are linked to such huge opportunities staring at them in the emerging economic triangle, they would totally shun violence and focus on prosperity.
Mr China insisted that the emerging economic triangle would form a big node not only into the Gulf of Guinea economic zone but into Africa because AfCFTA is about production, certification, market availability, and easy transport nodes by sea and air. He said the new economic triangle boasts of all the factors.
“They can only realise this by working together, through collaboration. One state cannot do it but a triangle of the three will create it through seamless interconnection, ports, industrial park, etc. The people will be the richest and internally generated revenue (IGR) will be the biggest in the country,” he said.
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