Connect with us

Business

N’Delta Crisis: After Osinbajo’s Visit, What Next?

Published

on

The ongoing tour of the oil-rich Niger Delta region by the Acting President, Prof Yemi Osinbajo-led Federal Government team is receiving high level of acceptance by the people of the region.
At least, the bombing and destruction of oil and gas installations have died down, unlike in the past when government was applying force aimed at crushing the boys. The millions of Naira expended on war logistics, huge crude oil loss and cost of repairing the destroyed installations directly affected the nation’s economy which is struggling under recession. This goes a long way to prove that to jaw-jaw is far better than to fight.
Report has it that on getting to Oporoza community, the headquarters of Gbaramatu Kingdom, in Delta State, Osinbajo expressed deep shock and pity over the age-long neglect of the oil host community. One wonders how he felt on getting to Oloibiri in Bayelsa State, where a desolate well-head, instead of the much talked about oil museum represents Nigeria’s official indicator of where crude oil was first stuck at commercial volume over sixty years ago.
How would the professor of law, in his discerning mind, have felt, if he had gotten to Umuechem, a community in Etche Local Government Area of Rivers State, where inspite of the billion dollars from its high grade Bonny light, the area is starved of Federal Government presence and virtually all social amenities, except the recent interventions of the state government under the leadership of Governor Nyesom Wike.
As Osinbajo resumes his tour, what awaits him are more sorry sights of underdevelopment, absence of good drinking water, pollution and pitiable relics of history.
But beyond rhetorics, no one can tell for sure what may come out of the tour when Osinbajo gets back to Abuja. After all, there was a bigger talk, just few years ago, in the name of National Constitutional Conference. The conference went with its colourful drama, the walk-outs, echoes of 50 per cent derivation fund and resource control, giving the impression of a serious business, but today, confusion has beclouded the vision of that bigger talk such that no one can make either the head or tail of the conference which had stirred up so much promises and hope for people of the region.
The journey for economic emancipation of the region brought about the Willinks Commission of the 1950s, but inspite robost presentations and agitations, not much can be said to have been achieved except such paltry gifts from stingy fingers as one per cent, three per cent and 13 per cent derivation. No permutation or formular, either of the oil or modern mathematics has ever scored 13 per cent as pass mark; it’s always at least 50 per cent.
The Niger Delta Development Commission (NDDC) which came after the defunct Oil Minerals Producing Areas Development Commission (OMPADEC) and the recent Niger Delta Ministry could have also made meaningful development impact but for poor management.
Why addressing stakeholders at the Government House in Port Harcourt, Rivers State, Osinbajo was frank and sincere when he said that after serving his National Youth Service NYSC in former Bendel State some 38 years, “it is therefore extremely discomfiting to know that we are still confronted with the very same situation. An edifying lack of development and access to basic amenities in the abundance of plenty.
“A situation typified by continued environmental degradation and a disturbing lack of opportunities for those who can no longer carry out traditional occupations like fishing and farming”.
The Acting President noted that, “what we now have is an unhappy cycle of discontent sometimes expressed by a resort to violence and vandalism and drawing in response a strengthening of security managements and a gamut of palliative measures”, adding that this vicious cycle cannot continue as it builds needless tension, promising that the federal government would take steps to bring development to the region.
It is only a change in the way we do things in the region as it is only the Federal Government, oil multinationals, states and communities that can bring the much desired change and result we desire.
The Osinbajo-led team appears to have set the right tone for the desired result when the government jettisoned its former strategy of force and opted for peaceful dialogue. This Federal Government change in approach has raised the people’s confidence in the sincerity of government to realise promised change.
Furtherrance to the quest for lasting solution to the  crisis-ridden oil host communities where peace has remained elusive for decades to be a meaning venture, instead of the usual picnic, the team must find out why the communities even when they have abundant after black gold that rules the world’s economy, they remain absolutely poor.
The mass poverty in the communities occasioned by economic deprivation must change such that marginalisation of the host communities  by oil operators and the government be brought to an end.
The idea of declaring natives, including their graduate sons and daughters, as not qualified for employment by oil operators much stop. Let the graduates be trained on the job to acquire requisite experience. Labour contractors excesses must be checked.
The Federal Government must show serious presence in initiating big projects that can touch the lives of the people directly and creating mass employment to justify the 60 per cent equity it enjoys in the sharing of oil proceeds.
Federal Government agencies which execute mega dollar jobs should expand their operational offices in the region and employ people in order to amiliorate their plight.
The non-completion of the East/West Road after so many years is a goose pimple on the nose of the government. Let this present administration try to complete the project in view of the economic and strategic importance of the road to the region and the nation.
The Train Seven aspect of the Nigeria Liquefied Natural Gas (NLNG) Bonny should commence so also the Brass LNG in view of the huge employment opportunities it would create for the region as well as the revenue to the nation.
In the area of pollution, the oil operators who are unwilling to operate according to international standard particularly in changing aging facilities and equipment should be sanctioned by the regulatory agencies.
The idea of gas flaring that has ended in most countries of the world must be made to stop. The idea of leaving the issue at the convenience of some stakeholders with inconsequential fines not commensurate with the effect of the pollution and damage should be urgently reviewed.
The youth of the region must also change the attitude of breaking or destroying installation as a strategy of agitation because of the damage it causes to the environment and national revenue.
There is also need for the government to review its stand on the illegal refineries especially with the promise of encouraging modular refineries in the area. There is need to co-opt the illegal operators and co-ordinate them in such a way that their standard of operation becomes acceptable.
The idea of destroying them by burning by the Nigeria Security and Civil Defence Corps is counterproductive because it aids destruction of the environment.
Nigeria Content Development Monitoring Board (NCDMB) should wake up and seriously think of how to put the Act in actual practice and this they can do by decentralizing their offices in most relevant local government areas. It should not be an urban issue.
Skills acquisition programmes and scholarship aimed at making youths in oil host communities acquire skill must be taken seriously. The idea of selling off the starter packs after the training graduands is bad. So let communities liaise with government agencies, oil firms and other stakeholders to see to better handling of the programmes. The idea of selling scholarship chances in a community when there are eligible persons in the area would not promote peaceful co-existence.
As the new parley by the federal government has set in a new beginning, there is need to also forgive those militants who were involved in pipeline vandalism as a way of agitation. Therefore Amadin Ogbeide of Delta State and indeed every other militant agitations being hunted by the security agencies should be pardoned.
NDDC must be made to be an interventionist agency in the real sense of it. The bad eggs in the system responsible for so many failed programmes and abandoned projects must be flushed out.

 

Chris Oluoh

Continue Reading

Business

SMEs Dev: Firms Launch N100m Loan Scheme 

Published

on

The Coalition of Microlending and Cooperative Institutions in Nigeria (COMCIN), the umbrella body of non-bank microfinance institutions and cooperative societies in Nigeria, in partnership with NEAT Microcredit, has unveiled a N100 million joint loan facility aimed at supporting small and medium-scale enterprises (SMEs) across the country.

The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.

The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA),  said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.

Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.

“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.

He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.

According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.

“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.

Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.

He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.

“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.

He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.

“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.

Continue Reading

Business

Yenagoa’s Radisson Hotel Ready  December   — NCDMB, Other 

Published

on

The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe, has expressed confidence that the five-star Radisson Hotel and Conference Centre, Yenagoa, Bayelsa State, would be completed and commissioned this December .
He said this while addressing visiting top executives of Edison Corporation  and Megastar Technical and construction company at the conclusion of a one-day project management tour and workshop at the headquarters of the Nigerian Content Tower (NCT), Yenagoa, weekend.
The Board in a statement from the Directorate of Corporate Communications said  all other stakeholder assured of the delivery of world-class services in the hotel upon it’s completion.
Ogbe described the hospitality facility as a top priority project of the Board whose progress he would be following up every day and week.
“This project is critical to the Board, critical to Yenagoa, Bayelsa State and Nigeria. With this hotel becoming functional at the end of the year, I believe there will be tourism in Bayelsa State, and that’s one of my dreams.
“When I took up this job as Executive Secretary in December 2024 I said I must make this hotel work”, the NCDMB boss said.
He commended the team from Edison Corporation and the project contractor, Megastar Technical and Construction Company, for the quality and pace of work, adding “much is required from the Management to meet up the schedule delivery
“Most of the critical aspects of the project have been resolved in terms of mark-up room, scope of work in terms of financing and contracting strategies”
The Board’s  Scribe said he was sure all hands would be on deck to ensure that work proceeds unhampered.
In his remarks, the Chief Executive Officer of Edison Corporation, Mr. Vivian Reddy, said the team from Edison Hotel Group was very excited to come into a contractual arrangement with NCDMB, assuring the project will put the city on the world map.
“What is so important with the group Radisson International is that, if anyone around the world looks for Radisson Yenagoa, they will see this place pop up, and it’s going to help to uplift the area in terms of visitors and tourism.
“Our role is to make sure we deliver a world-class quality hotel from start to finish. We will open the hotel, we’ll furnish it. We’re working with the main contractor to make sure the facility meets world-class standards”, he said.
Speaking on the sealing of the contractual deal with the NCDMB, he noted it took great efforts, saying “getting Radisson in the agreement was not easy, and it took several months and cumulative one and a half years of discussions and documentation”.
The Edison boss, who is reputed to be the first South African businessman to lead a high-level business delegation from that country to Nigeria during the tenure of President Thabo Mbeki in 1999, was full of commendation for the NCDMB boss, describing him as “a great and visionary leader”.
“The vision and dream of the Executive Secretary of the NCDMB are going to become a reality.  We’re going to help him and make it a reality and it’s going to be the best hotel in this region”, the   boss noted.
Mr Reddy also commended the project contractors and professional teams involved, stating that his team has every confidence in their technical competence.
By: Ariwera Ibibo-Howells, Yenagoa
Continue Reading

Business

RIRS Sets Tomorrow As Deadline For Individual Tax Returns Filing    

Published

on

The Rivers State Internal Revenue Service (RIRS) has set tomorrow as the deadline for the filing of  all  Annual Individual Income Tax Returns  for all taxable residents of the state.
This was contained in a public notice  by the Service to the taxable residents of the state in compliance with statutory provisions.
The notice was signed by the Executive Chairman of the agency, Sir Israel O. Egbunefu, and made available to the public in Port Harcourt recently.
 Egbunefu stated that the directive was in line with the provisions of the Nigeria Tax Administration Act 2025, which mandates individuals to declare their income for the preceding year of assessment.
 According to the notice, the obligation covers all categories of income earners, including employees in both the public and private sectors, self-employed individuals, business owners, and professionals operating within the state.
The agency reiterated that the timely filing of tax returns remains critical to promoting transparency, accountability and efficient tax administration in Rivers State.
 It further noted that compliance with tax obligations plays a vital role in enabling the government to meet its developmental goals and provide essential public services.
 RIRS urged all eligible taxpayers to ensure that their 2025 tax returns are properly completed and submitted through its approved channels before the stipulated deadline .
The Service warned that failure to comply with the directive may attract penalties and other sanctions as prescribed by relevant tax laws.
 It also stated its commitment to enforcing compliance while maintaining a taxpayer-friendly approach in its operations.
 Taxpayers requiring assistance were advised to visit any RIRS office or access its official platforms for guidance on the filing process.
The agency assured residents of continuous support, including professional advisory services, to facilitate a seamless and stress-free compliance experience.
 The notice forms part of ongoing efforts by the Rivers State Government to strengthen revenue generation and enhance voluntary tax compliance across the state.
 Residents are therefore encouraged to take advantage of the available support systems and meet the deadline to avoid unnecessary penalties.
By:  King Onunwor
Continue Reading

Trending