News
Delta Seeks N100bn Bond
Delta State Government has sought for N100billion bond from the Nigeria Stock Exchange (NSE) to enable it accelerate infrastructural development in the State.
The State Governor, Dr. Emmanuel Uduaghan who announced this when the Chief Executive Officer of the Exchange, Mr Oscar Onyema paid him a courtesy visit in Asaba, said the bond was in two tranches, stating that the transaction on the first N50billion tranche was already on.
He commended the NSE for its support in fast-tracking the transaction, and promised to use the bond to actualize the infrastructural dream of the State Government.
Governor Uduaghan explained that the State Government decided to seek for bond from the NSE because of its low interest rate saying “we decided to seek for bond since to get such loan from the bank attracts higher interest rate”.
Explaining further, he said the strategic plan of the State was to ensure there was economic benefit in all developmental projects embarked upon by the government.
The Governor said that businessmen in the State would be encouraged by the State Government to patronize the NSE when sourcing for funds to invest in the State because the business community would find it difficult to borrow from the banks at high interest rate.
“We are encouraging businessmen investing in the State to patronize you (NSE). Don’t look at the State as a rich one, make your interest rate to be very low so that we can patronize you the more,” he said.
In a brief address, the Chief Executive Officer of the Nigeria Stock Exchange, Mr. Oscar Onyema stated that the Exchange was ready to give the necessary support to Delta State Government to enable it get the N100 billion bond.
Explaining that it would be issued in two tranches of N50 billion, he said the second tranche of N50 billion would come up later.
“The Nigeria Stock Exchange is ready to facilitate the transaction to ensure that Delta State Government gets this bond soonest in order to enable the government fast-track development in the State.”
In another development, Governor Uduaghan has assured that his administration would put machinery in motion to surmount all challenges in order to make Delta State the economic hub of the Nation.
Dr. Uduaghan who disclosed this while briefing the press on the 20th anniversary celebration of the creation of Delta State in Asaba, said the goal of his administration was to build a State, that was less dependent on oil.
He observed that Delta State has been faced with a lot of challenges since its creation especially in the area of peace, saying, “this peace that we now enjoy will fast-track development”.
The Governor commended those who contributed to his administration’s success in achieving peace in the State and promised to sustain the achievements, to enhance development in the State.
Explaining further, he stated that it was necessary to celebrate the 20th anniversary of the State because of the achievements recorded so far, and called on all to join hands with his administration in realizing the dream of making the State the economic hub of the Nation.
He commended the press for its support to the Government especially in the development in the State.
The Governor urged them to be part of the 20th anniversary celebration and continue to contribute their quota to enable the State Government achieve its goal.
News
PDP Opobo/Nkoro Hails Fubara On Peace, Projects
Stakeholders of Peoples Democratic Party (PDP) in Opobo/ Nkoro Local Government Area of Rivers State have commended the state Governor, Sir Siminalayi Fubara for his disposition that has fostered peace in the State.
Rising from an expanded stakeholders meeting last Saturday in Opobo Town, the body in an eight-point communique signed by its Chairman, Hon. Benneth Daminabo, Chairman of Council, Rt. Hon. Enyiada Cookey-Gam and LG party Chairman, Warisenibo Godwin Pepple commended the governor for linking Opobo/Nkoro LGA to the national grid.
In addition, it lauded the effort of the governor in pursuing the 50.15 kilometre Dual Carriage Ring Road, Elelenwo internal road, Aleto-Ebubu-Eteo Road in Eleme and Andoni Road projects.
Despite the distractions, the stakeholders said they were impressed that the governor had equally done projects in health-the unveiling of Prof. Kelsey Harrison Hospital, Agric projects at Tai and Oyigbo and improving welfare of civil servants.
In their words, “members reaffirmed their unalloyed loyalty and implicit confidence in his administration.”
Condemning the unfriendly and discourteous utterances of Senate President, Godswill Akpabio and Tony Okocha in different fora in the State, the forum urged the duo to desist from such action in order not to heat up the polity.
The forum pledged to stand by the governor through, “thick and thin”, the stakeholders acknowledged the contributions of women, who through prayers for the government has impacted positively in the direction and posture of the governor.
Finally, the forum unanimously expressed gratitude to the Simplified Movement and other bodies that have thrown their weight behind the governor to ensure that the administration is stable and successful.
By: Kevin Nengia
News
‘Rivers People Are Now Breathing Fresh Air Under Fubara’
Aformer Caretaker Committee Chairman of Abua/Odual Local Government Council of Rivers State, Hon Elamo Arogu, says under Governor Siminalayi Fubara, the people of the State are now breathing fresh air.
Hon Arogu said Governor Fubara has given Rivers people hope, considering the impactful and people-oriented projects being carried out by his administration.
The former CTC chairman made the assertion during the Simplified Movement’s thanksgiving service and rally held in honour of Rivers State chief executive last Friday in Abua .
Arogu said under Governor Fubara, the Abua/Odual people have the confidence that the dividends of democracy will definitely get to them.
He noted that the Governor has the strong will to change the narrative in Rivers State, being the reason he is receiving massive support across the State.
“The people of Abua/Odual are strongly behind him. Our doors ate open for everyone because there is government in place to attend to the needs of the people. I believe that he will develop Abua/Odual and other Rivers council areas, hence, the massive support. This government is business- oriented and we are ready to encourage him succeed and invest in our land. The issue of a bank; road networks and other necessities of life bordering on development as demanded by the people will be considered by Governor Fubara”, he said.
He called on the opposition to team up with Governor Fubara to build a stronger, united and viable Rivers State.
He maintained that ward nine under his leadership is Simplified.
News
Rivers State University Cooperative Society Elects New Leaders
The United Port Harcourt Peoples Cooperative Investment & Credit Society Limited, Rivers State University, Port Harcourt, has elected new leaders to pilot the affairs of the cooperative for the next two years.
They are Pastor Dr. Barine Aeba (President); Dr. Gift N. Nkweke (Vice-President), Dr. Kenneth Chima Adiele (General Secretary), Victor G. Banigo (Assistant General Secretary),
Rose Yeyeda Nwosu (Treasurer), Adaku Nwogu (Financial Secretary) and Stella Ereba (Public Relations Officer).
Inaugurating the new Management Committee after a keenly contested election held recently at the University Amphitheatre, the Director of Cooperatives in Rivers State, Dr. Elizabeth Chidi-Wike, congratulated the seven-member Executive for emerging winners at the election, charging them to uphold the bye laws of the Cooperative Society and hold regular congress meetings.
Dr. Chidi-Wike used the forum to commend the outgone Management Committee for reviving the Cooperative and placing it on an enviable pedestrial.
In her remarks, the Acting Registrar of the University, Mrs. Ibimonia Sotonye Harry applauded Cooperative members for keeping faith with the Cooperative Society, stressing that the goal of the society in helping members save for retirement cannot be over emphasised.
In his valedictory speech, the outgone President, Dr. Mie-Idala Jones Amachree expressed gratitude to God for the successful completion of his four-year tenure, thanking his fellow Management Committee members who gave him the needed support that transformed the Cooperative Society.
In his acceptance address, the President, Pastor (Dr.) Barine Aeba thanked the university management for providing the enabling environment for the peaceful conduct of the election, pledging that he will fulfill all his campaign promises.
A total of 165 Cooperative members participated in the electoral exercise which was conducted by an Electoral Committee led by Engr. (Dr.) Joseph D. Enoch.
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