Business
Rivers Fishermen Decry Illegal Bunkering, Want Govt’s Support
Worried by the negative impacts of illegal bunkering on the aquatic life in rural areas and the incessant attack on fishermen by sea pirates, the fishing folks in Rivers State have called on the state government to come to their rescue.
The call was made during an interview with some fishermen on Monday, in Port Harcourt.
Speaking to The Tide, a fisherman, Ene Dimabo, said that since the advent of illegal bunkering in the state, the aquatic life had never been the same.
According to him, “I am a fisherman and that is my traditional occupation. I have been in it for about two decades, what we are catching now as fishermen cannot be compared to what we used to in the yester years. Formerly, we used to catch assorted fish species like snapper, tilapia, sardine, mullet and others, but today most of these species have gone into extinction due to the activities of illegal bunkering.
“The fisherman today is faced with the impact of illegal bunkering and the violent act of the sea pirates on fishermen. We are passing through a very critical condition to be able to fish. It is life and death, the sea pirates who are so heartless will not spare even the last piece of fish in your boat, that is if you are not abducted.
“I am therefore, calling on the state government to give priority attention to fishing sector because that is what our parents at home used in surviving. Illegal bunkering and sea pirates should be checked”.
Another fisherman, Ibibo Dango said, “the major challenge fishermen are facing in the state is lack of government support and attention. The fishing implements and gears are not easily accessible and to make a fisherman fully independent and self reliant, one has to be fully equipped with the fishing gadgets which are cost intensive. We therefore, call on government to support the fishing sub-sector if we must achieve the state government’s policy thrust on agriculture.
“The issue of illegal bunkering and its attendant negative environmental impact is beyond lip service it rather need scheck on the big time sponsors”.
A fish seller, Felicia Dokubo told The Tide that before now, her mother in the village used to pick periwinkle, oyster, shrimp and other sea foods at the swamps close to them, but noted that, since the bunkering activities started in the state, most of the seafood had disappeared.
She said, “my mother at home can no more practice her traditional occupation of fishing, due to pollution and the little you manage to catch, the sea pirates will surrender you, brutalise you, at times kill or abduct you and collect all the fishes in your possession. Government should do something to help us”.
Business
Private sector gets N2.2tr credit in 30 days — CBN
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
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