Connect with us

Business

Expectations From New IGP, Rivers CP

Last week, President Muhammadu Buhari
appointed an Acting Inspector General of Police, Muhammed Idris following the retirement of the former IGP, Solomon Arase. The same week, a new Commissioner of Police, Foluso A. Adebanjo was deployed to Rivers State.
Our correspondent, Calista Ezeaku went out to get people’s reactions to this development, especially their expectations from the two police officers. And their reactions are quite exciting. Our photographer, Ibioye Diama captured their images

Published

on

Mr. Nation – Fashion Designer
Since the inception of the current administration, the condition of the State has been very bad, security wise. Just recently, about twenty persons were killed in Emohua by a so-called cultist. From Emohua, he went to Rumuosi and also killed some people. A similar situation prevails in many parts of the State. So, the new Commissioner of Police should work hard because the level of insecurity in the State is very alarming. Nobody is safe. Nobody is protected. He should beef up security in our communities, especially the volatile communities. There should be police presence everywhere. And all of us, members of the public, should also help the police.
Evang Mike – Chairman Abua/Odual Pray Foundation
The rising rate of insecurity in the State is worrisome to everybody. Nobody is comfortable with what is happening and looking at the situation carefully, you will understand that the whole problem emanated from cultism, from politicians and all the rest. And unfortunately, even the police that we should look up to has already been politicised.. If you go close to them, you will find out that some of them are working for one political party or the other. So, a situation where the political party has power over the security agencies, it means we don’t have security any longer because they are not on their own. We are not feeling safe. There are a lot of things happening right now that many people are yet to know. Yesterday, I left Abua/Odual only to be told later that there was shooting in a place called Ogolocon. The JTF went there and came back with one of them being shot. That is the kind of things happening in the local areas. For those in Port Harcourt, they are a little bit safer. But those in rural communities, especially the riverine communities, they are suffering greatly.
So, I want to formally welcome the new Commissioner of Police to the State. This morning, I heard from a radio station, a journalist saying that the frequent changing of police commissioner in the State will not help matters. I agree with him because a situation where someone is posted to the State and before he could study the situation in his domain to know how to tackle it, he is removed, it doesn’t help. I don’t think that is a good approach to manage the situation.
Having said that, I think the new Police Commissioner should be concerned about what is happening in the entire State. He should engage the communities, the traditional rulers, the youths, the civil society organisations, NGOs, opinion leaders towards resolving the crisis in the State. The Police is in a better position to do that. So, I expect the new police boss to carry out a kind of consultation and assessment of how many NGOs are registered, who are doing what to see what they can also contribute to help in solving the insecurity problem in the State.
The police boss should also sensitise his men because there have been allegations that some of these criminals work with them. So, he should be sensitive to that fact and only use the committed ones to do the work instead of allowing the police to be so politicised. He should ensure that his men carry out their job professionally and should not be controlled by anybody.
I also want to say that all hands must be on deck to make the new commissioner to succeed. The Governor, the Commissioners and every other person should support him. We can support by giving the police necessary information required for them to carry out their duties effectively.
For the AIG, I expect him to be meeting frequently with his Commissioners and all those put in strategic positions at least to be hearing frequently what is happening in the states. He should not just sit in his office and be expecting reports. He should take steps that will actually convince the people that he is working. He should respond promptly whenever security challenges arise in any part of the country. The police should ensure that everybody is treated equally.

Celine  Ayo Tamuno – Civil Servant
I think I like the idea of changing the Commissioner of Police because so many wrong things are going on in the State. People can no longer move freely. And I pray and believe God will give the new police boss the wisdom to handle the security challenges in this State. People in the rural areas are suffering. So many people have fled their homes to Port Harcourt. He should ensure that peace is returned to our communities so that people can go back and live in their homes peacefully.
I strongly believe the police know what to do to stop cultism and cult-related attacks in the State. The CP can invite them for a meeting to know actually what their problem is. Definitely, there must be reasons why they do what they are doing. The Commissioner of Police should invite them for a round table discussion, find out what actually are their grievances and see how to tackle them amicably. This morning, I heard the governor saying he will give amnesty to any repentant kidnaper. If that will solve the problem, they should give it to them.

Anonymous – Security Expert/Civil Servant
Rivers State has been a restive area because of cultism, militancy and others. The first thing the CP has to do is to develop an intelligence structure. He should be able to set up a strategy to enable the police fish out these criminals. They should be able to develop a good synergy with other security agencies. This will help in information dissemination. If you develop such a structure, you will make the criminals restless because anywhere they go, there will be presence of security agencies there, so very good network of information should be developed.
Secondly, there should be adequate discipline in the police. Any erring policeman or any criminal working with the police should be dealt with. The CP should be able to develop a network of policing around volatile areas.
A lot of people believe that the insecurity situation in the State had been fuelled by politics. So, there is need for the new CP to invite all the major political stakeholders in the State. Those of them who either arm the boys, send them to cause havoc or protect them from being harmed, should be punished in accordance with the law. By the time one or two of them are nabbed into the police net, it will reduce the crime. The Police Commissioner should not be respecter of anybody. He should ensure that the rate of harassment and intimidation of members of the public by policemen in the state is reduced.
For the new IG, he should be on his toes because the immediate past IGP has kept a standard. He should maintain that standard and learn from whatever lapses and develop the Nigerian police force.

Mr. Stephen Osigwe – Taxi Driver
First of all, we welcome the new Commissioner of Police and we will be happy to see him do a good job for us. He should try and curtail the spate of cultism in the State because it is too much. Every time killing, killing. He should help us curtail this crime. He should mobilise his boys to volatile areas like Diobu. Once it is 6 p.m, you will see the bad boys patrolling everywhere. He should mobilise his boys to deal with them. Sometimes they can come in disguise and arrest these boys.
The new CP should help us talk to his boys. They are always at every junction, checking, checking, checking. So we are tired of the several checks. We are suffering from the numerous taskforces and police checking. Things are very hard in the country now and the police make it harder for us by their harassment, intimidation and extortion. There are minor offences  they are expected to caution the driver and ask him to go, they should do so instead of asking him to pay.
On the federal level, I wish the new IG good luck. I welcome him. I believe he has new plans, new agenda that will strengthen the police force and ensure adequate security in the entire country. So, I wish him good luck. The policemen have been trying to curtail the menace of Boko Haram and the new IG should maintain the tempo. He should also look into the problem of Fulani herdsmen. He should put measures in place to ensure that these cattle rearers don’t become Boko Haram members in disguise
Miss Juliet Polokachike – Businesswoman
I will advise the new CP to please ensure thorough enforcement of the laws of the State. He should try and make the State to be peaceful. He should also try and get to the root of the insecurity problem we have in the State. Most of the time, we hear it is cult war and all that, but what led to the high rate of cultism among our youths? He can dialogue with them; educate them on the dangers involved in cultism. He should call them, know what their problem is; seek for peace before you start arresting them. Killing them will not solve the problem.
The CP and the state government should make our youth useful. From time to time, there should be seminars for them. There should be constant sensitisation, education of our youth on the need to do the right thing, and be useful to themselves and the society because our youths are going extra miles these days.

Continue Reading

Business

Nigeria’s ETF correction deepens as STANBICETF30, VETGRIF30 see 50% decline in a week

Published

on

Nigeria directs all oil, gas revenues to federation account in sweeping reform
Nigerian President Bola Tinubu has signed an order directing that all oil and gas revenues owed to the government be paid directly into the federation account, in sweeping reforms aimed at boosting public finances, the presidency said on Wednesday.
Under the law, the Nigerian National Petroleum Corporation keeps 30% of oil and gas profits for frontier exploration in inland basins. The presidency said those funds will now be paid into the federation account and appropriated by the government.
The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here.
NNPC also retains 30% of oil and gas sales as operational costs and receives 30% of proceeds from Production Sharing Contracts. Under the new directive, all revenues under these arrangements will flow directly to the federation account, while the company will instead receive appropriated management fees.
Royalty payments, petroleum profit taxes and other statutory revenues previously collected and retained by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) will also be paid directly into the Federation Account. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) will likewise remit its revenues in full, with its cost of collection to be funded through appropriation.
Tinubu’s office said deductions enabled by the law had sharply reduced net oil inflows and contributed to fiscal strain across federal, state and local governments. The president also ordered a review of the law and established an implementation committee to enforce the changes.
Continue Reading

Business

BOI Introduces Business Clinic 

Published

on

The Bank of Industry (BoI) has introduced a business clinic model designed to diagnose, treat and rehabilitate the Micro, Small and Medium Enterprises (MSMEs) to ensure long-term growth and sustainability.
The Divisional Head, Business Development, BoI, Dr Obaro Osah, made this known at the bank’s Thrive Summit with the theme: “Driving Growth through Innovation and Financial Empowerment” on Tuesday in Lagos.
Osah noted that traditional banking often treated businesses as mere account opening and management relationships.
He said the BoI business clinic model was created to reimagine the essence of a bank as a specialised teaching hospital.
According to him, just as a hospital requires a thorough diagnosis before service treatment/surgery, the bank must analyse the structural health of a small business before injecting capital.
“Financial distress is often just a symptom, the disease lies in operations and adopted philosophy, strategy, or governance,” he said.
Osah noted the many MSMEs, in spite of their potential, suffer from recurring ailments: restricted cash flow, poor operational structure, lack of proper packaging and market access, poor management among others.
He said the bank’s triage and vital signs included screening SMEs by maturity stage, pulse check to assess cash flow and liquidity and market temperature to evaluate competitive landscape.
Osah said after these evaluation, advanced diagnostics, prescriptions, surgical interventions and recovery and rehabilitation would be carried out where necessary.
“Prescription without diagnosis is malpractice and the Thrive Summit ensures we treat the root cause, not just the symptoms,” he said.
The Chief Strategy and Development Officer, BoI, Dr Isa Omagu, noted that MSMEs needed more than finance to succeed.
Omagu said they needed structure, advisory, capacity building, governance, digital readiness, access to market information and the right business infrastructure to operate and scale effectively.
He said as part of the bank’s 2025-2027 Corporate Strategy, the business clinic would expand BoI’s value proposition to broaden its products and services to better reach target segments.
Omagu said by offering structured business advisory and project development support, the clinic would enable the bank deliver deeper, more holistic value to MSMEs beyond financing.
“This vision of a structured, holistic business clinic; one that strengthens MSMEs across all core business functions and makes them more bankable, competitive, digitally enabled, and sustainable, is fully aligned with our strategic initiative to develop and roll out non-financial product offerings.
“Through this initiative, BoI commits to providing business advisory for MSMEs and project lifecycle support for enterprises, and the business clinic serves as the practical platform through which this commitment comes to life,” he said.
Omagu urged MSMEs to apply the guidance received to strengthen structure, governance, and financial management.
He added that they must adopt digital tools and improve internal processes to boost competitiveness while engaging BoI as a long-term partner in building a resilient, scalable business.
Mrs Eniola Akinsete, Divisional Head, Sustainability, BoI, said adopting Environmental, Social and Governance (ESG), principles often led to business prosperity.
Akinsete, however, noted that in spite of the benefits, adoption challenges persisted.
She affirmed BoI’s support on the adoption of ESG Practices by the MSMEs.
Earlier, the Executive Director, Corporate Finance, Sustainability and Investments, BoI, Mr Rotimi Akinde, said the summit represented a shared commitment to building a stronger, more resilient business ecosystem in Nigeria.
Akinde stated that the business clinic created a platform for practical knowledge sharing where entrepreneurs and small business owners could gain actionable insights to overcome challenges and seize opportunities.
He said discussions would focus on critical areas that drive sustainable growth, including branding and marketing, financials and activities, human rights, human resources, raising capital for equity and technology.
Continue Reading

Business

Dangote signs $400 mln equipment deal with China’s XCMG to speed up refinery expansion

Published

on

Nigeria’s Dangote Group has signed a $400 million equipment deal with China’s Xuzhou Construction Machinery Group to speed up the expansion of its oil refinery toward a planned 1.4 million barrels per day, the company said on Tuesday.
The additional equipment is expected to support major projects under construction across refining, petrochemicals, agriculture and infrastructure.
Dangote said the XCMG agreement would allow it to acquire a wide range of new heavy-duty machinery to complement existing assets deployed for the refinery build?out, which the company expects to complete within three years.
As part of the expansion, polypropylene capacity will rise to 2.4 million tons per year from 900,000 tons. Urea production in Nigeria will triple to 9 million tons per year, alongside an existing 3 million-ton plant in Ethiopia, positioning the conglomerate as the world’s largest urea producer, the company said.
The output of linear alkyl benzene – a key raw material for detergents – will increase to 400,000 tons annually, making Dangote the biggest supplier in Africa. Additional base-oil capacity is also planned in the programme.
Dangote Group described the equipment deal as a strategic investment aligned with its ambition to become a $100 billion enterprise by 2030.
“The additional equipment we are acquiring under this partnership will significantly enhance execution across our projects,” it said in a statement.
Owned by Nigerian billionaire Aliko Dangote, the $20 billion refinery began operations in 2024 after years of delays. Once fully operational, it is expected to reduce Nigeria’s heavy dependence on imported refined fuel and reshape fuel supply across West and Central Africa.
Reporting by Isaac Anyaogu; Editing by Anil D’Silva
The Nigeria-Slovenia Chamber of Commerce on Thursday urged the Nigerian business community to explore business opportunities in Slovenia to widen their horizons.
The Tide source reports that the chamber made the call at its 2025 Last Quarter Business Forum held in Lagos State.
The forum is the chamber’s routine session aimed at informing businesses about the latest opportunities of mutual benefit between both countries, encouraging people to explore them to improve their livelihoods.
Speaking at the event, which was attended by businessmen and trade regulatory agencies, the Director-General of the Nigeria-Slovenia Chamber of Commerce, Mr Uche Udungwor, described the relationship between the two countries as a bilateral economy.
Udungwor said the body, established to build, promote and facilitate trade and investment activities between Nigeria and Slovenia, had positively impacted both nations.
He said the mandates of the chamber include: “To provide a forum representative of Nigeria and Slovenia’s interests for the development and improvement of commerce and industry between the two countries.
“Also, to create, promote and sustain broad exchanges and interactions in commercial, industrial and economic fields between the countries.
“To promote cooperation on technical and scientific innovations between institutions of the countries through the exchange of regular information on trade and investment opportunities.
“To advise members on opportunities, challenges, legislation or otherwise arising from the pursuit of trade between Nigeria and Slovenia, and to encourage the exchange of ideas and views on trade matters within the context of trade promotion between both countries.”
According to him, Slovenia’s major imports include organic chemicals, agro products such as cocoa beans, iron and steel/metal scraps, wood, and mineral fuels/petroleum products.
He said the trade balance between Slovenia and Nigeria is “not quite encouraging”, citing United Nations COMTRADE data indicating that Slovenia’s imports from Nigeria in 2022 amounted to $5.7 million.
Udungwor described the Republic of Slovenia, located in Central Europe with about 2.1 million inhabitants, as a promising business frontier for Nigerians.
He noted that the country features Alpine mountains, thick forests and a short Adriatic coastline.
“Slovenia, which borders Italy to the west, Austria to the north, Croatia to the south and southeast, and Hungary to the northeast, has a 2024 GDP of 72.49 billion dollars, a sound economy and a low-risk business environment.
“Slovenia has been a member of the European Union since 2004 and of the Schengen Group since 2007. It is also a member of the Organisation for Economic Co-operation and Development (OECD).
“Slovenia today is a stable, vibrant democracy that offers a stimulating business environment and represents a bridge between the Balkan, Central European and Western European countries.
“The Nigeria-Slovenia Chamber of Commerce is at your service to provide up-to-date information and advice about Slovenia’s economy, business opportunities, companies, products and services for the mutual benefit of all,” he said.
A participant, Mr Muyiwa Ajose, said his partnership with the chamber had bolstered his agro exports to Slovenia.
Continue Reading

Trending