News
Expert Tasks RSG on Hedge Measures
A renowned banker and chieftain of the Peoples Democratic Party (PDP) from Opobo/Nkoro Local Government Area, in Rivers State, Dr. Isaac Mietamuno-Jaja, has called on the state government to create hedge measures to strengthen its economy from the shocks of the dwindling federal allocation.
Mietamuno-Jaja, in an exclusive chat with The Tide said though it was difficult for the state to totally shield itself from recession, it however, needs to create peculiar empowerment scheme such that the people are genuinely into productive ventures.
“Rivers State economy cannot be different from what happens at the federal level, so, what I advice is that states should not wait till the impact begins to hit them,” he said.
For the state to achieve improved internally generated revenue base, the expert stressed the need for government to exploit other areas of the economy to protect the state from shocks, saying, “by hedge, I mean a protective mechanism such that we need to look for areas to empower our people.”
He commended Wike for the way and manner he has managed the state’s resources, adding, “I don’t know the magic wand he is using because anywhere you go, there is one project or another. What he is doing to sustain that is a mystery to me. In short, in the entire country, I don’t think any governor is embarking on the kind of project he has done.”
On the other hand, he suggested that the governor should adopt a “wait and see” approach to some of the projects, explaining that with such method, it would be easy to assess the impact of such projects before embarking on another, considering the state’s current meagre resources.
Calling on the governor to set up an economic team, Mietamuno-Jaja, maintained that at a time like this, the state needs experts’ advice on how to manage the economy.
Though Mietamuno-Jaja supported calls for the selling of some Federal Government assets, “But my view is that government should not be in a hurry to sell them, they should study the situation very well.”
He regretted that the delay in passing the federal budget coupled with poor economic policies were responsible for the wobbly economic growth being experienced in the country.
“Until today, nobody knows the economic policy of the government, and those managing it lack the technical know-how to go about it,” he added.
Mietamuno-Jaja insisted that what the Federal Government needs is experts in the field of economics to chart a course for growth and sustainable development for all Nigerians.
The banker expressed belief that considering recent statements from the Central Bank of Nigeria (CBN) governor and minister of finance, the country may soon be out of the woods, though he insisted that consistent measures need to be taken to reduce the impact of the current recession on the people.
The 2025 annual general meeting (AGM) and conference of the Rivers/Bayelsa states chapter of the Manufacturers Association of Nigeria (MAN) has come to a close with a strong call for both states to drive the blue economy.
The communique just issued after the AGM pointed to what it called emerging prospects in fish processing, seaweed cultivation, ship repair, and marine technology.
The communique which also mentioned human capital gaps that must be filled through technical and vocational training that are aligned with modern industrial needs, said the blue economy represents a viable pathway for Nigeria’s industrialisation.
It said MAN and Arican Marine Environment Sustainability Initiative (AFMESI) have the capacity to unlock Nigeria’s blue economy sustainably and inclusively, but said the region required dedicated infrastructure upgrades, including roads, waterways, and power.
The communique was signed by Vincent Okuku (Chairman of Rivers/Bayelsa States Branch); Michael Nosa Agana (Branch Vice Chairman/Chairman AGM planning Committee); and Chibuzor Eze (Executive Secretary, Rivers/Bayelsa States Branch).
The resolutions said the future of the Niger Delta economy lies in diversification rather than dependence on extractive industries. “Technology and innovation, value addition and local processing, strategic infrastructure, and a skilled workforce are essential pillars for the future of manufacturing in the region.
“Governments in the region must intensify support for manufacturing activities. Various forms of collaboration across sectors should be actively encouraged.”
It specifically advised Bayelsa and Rivers States to fully develop and harness the blue economy as strategic gateways for sustainable growth; and called for cross-border partnerships with neighbouring states to enhance trade, security, and environmental management.”
The Rivers/Bayelsa States branch of MAN held its first (41st) AGM outside Port Harcourt for the first time, hosted by Bayelsa State Government at the Chief D.S.P. Alamieyeseigha Memorial Banquet Hall, with the theme: ‘Trade, Technology, and the Future of Manufacturing in the Niger Delta.’
In his welcome address, the chairman of the branch, Okuku, commended the Bayelsa State Government under the leadership of Gov Douye Diri for its efforts in industrial development, investment promotion, and strong partnership with the private sector.
He also acknowledged the Rivers State Government for its commitment to rehabilitating industrial clusters, improving access roads, and delivering key infrastructure.
He, however, expressed concern over persistent challenges such as high energy costs, unreliable electricity supply, weak transport systems, rising logistics expenses, multiple taxes and levies, inconsistent regulatory frameworks, and pressure from host communities, which continue to hinder manufacturing growth in both states.
The President of MAN, Francis Meshioye, noted that the Niger Delta, with its abundant resources and strategic location, holds vast potential for industrial expansion. He called for policy frameworks that promote local manufacturing, enhance trade, and attract investments to the region.
Goodwill messages were delivered by the Minister of the Federal Ministry of Regional Development, Abubakar Momoh, represented by Wasa Festus, Director of Community Development and Education. Another goodwill message was also presented by the Bayelsa State Commissioner for Trade, Industry and Investment, Ebieri Jones.
In his remarks, Gov Diri praised MAN for its contributions to Nigeria’s manufacturing sector, noting its resilience, innovation, and strategic role in national development. He stated that the conference theme aligns with his administration’s mantra of “Assured Prosperity.”
Gov Diri offered 24-hour service to manufacturers wishing to relocate to the state, and highlighted the State’s ongoing transformation through deliberate investment in infrastructure, security, and human capital aimed at positioning Bayelsa State as a hub for industrial growth, particularly in the blue economy, agriculture, and manufacturing.
He further noted that hosting the 41st AGM fulfilled a long-desired aspiration of the State following the successful 2024 MAN event in Port Harcourt, Rivers State. He officially declared the exhibition open.
The Nigerian Education Loan Fund has alerted the public to a fraudulent message circulating online, claiming that the NELFUND Student Loan Registration Portal is open.
The message directs applicants to a third-party link (http://gvly.xyz/Nelfund-Student-Loan, which NELFUND confirms is unauthorised and fraudulent.
In a post obtained from its X handle, yesterday, NELFUND urged students and the general public not to click on the link or provide any personal information, emphasising that the official loan registration portal is only accessible through the Fund’s verified channels.
The agency reminded applicants to exercise caution online and to report any suspicious links or communications claiming to be from NELFUND.
“Applicants are encouraged to always verify official announcements via NELFUND’s official website and social media channels,” NELFUND said.
This advisory comes as part of NELFUND’s ongoing efforts to safeguard students and ensure the integrity of the student loan application process.
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