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FG Disburses N2trn To Mitigate Covid-19 Impact

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The Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, yesterday, disclosed that the synchronized efforts by the monetary and fiscal authorities to mitigate the impact of the Covid-19 pandemic have led to the disbursement of N2trillion as of January this year.
Emefiele made the disclosure at the end of the first Monetary Policy Committee meeting of this year.
He revealed that N192.64billion has been disbursed to 426,016 beneficiaries of the Covid-19 Targeted Credit Facility (TCF) meant for household and small businesses.
“We have also disbursed N106.96billion to 27,956 beneficiaries under the Agri-Business Small and Medium Enterprises Investment Scheme (AGSMEIS), while in the Health Care Support Intervention Facility, we have disbursed N72.96billion to 73 project that comprise 26 pharmaceutical projects and 47 hospitals and Health Care Services Project in the country.
“To support the provision of employment opportunities for the Nigerian youth, the Central Bank of Nigeria also provided financial support through the Creative Industry Financing Initiative and Nigerian Youth Investment Fund amounting to N3.12billion with 320 beneficiaries and N268million with 395 beneficiaries, respectively.
“On enhancing power supply, the Bank has so far, provided N18.58billion for the procurement of 347,853 electricity reading meters to Discos in support of the National Mass Metering Programme”, the CBN governor revealed.
Emefiele noted that, under the Anchor Borrowers Programme (ABP), N554.63billion had been disbursed to 2,849,490 beneficiaries since the inception of the programme, of which N61.02billion was allocated to 359,370 dry season farmers.
The committee urged the Bank to sustain its current drive to improve access to credit to the private sector while exploring other complementary initiatives, in collaboration with the Federal Government, to improve funding to critical sectors of the economy.
On the external reserves position, the committee noted the increase in the level of external reserves, which stood at $36.23billion as at January 21, 2021 compared with $34.94billion at the end of November, 2020.
This reflected improvements in crude oil prices, partial global economic recovery amid optimism over the discovery and distributions of Covid-19 vaccines by most developed economies.
On efforts to stabilise food prices, Emefiele said that the bank has detected the unhealthy activities of private commodities exchange, a development that necessitates the repositioning of the Nigeria commodity exchange.
“We have written to the President and luckily, we have received the approval to restructure and reposition the Nigeria commodity exchange. It will operate like standard commodity exchanges that you can find in any part of the world which includes stabilizing of food prices generally. We will be coming up with the agenda and framework for the restructuring and repositioning of the Nigeria commodity exchange and we will do so in a manner that prices must be stable in Nigeria.
“We will not allow some self-seeking private exchange commodity to be holding agriculture products and be creating problems for prices because price stability is the core mandate of CBN and we cannot shy away from the responsibility, luckily the CBN own 60 per cent of Nigeria commodity exchange and we take control of it and will run it the way commodity exchanges are supposed to be run in any part of the world. That is one way that we would want to stabilize food prices in Nigeria”.
During the period under review, money market rates remained low, reflecting the prevailing liquidity conditions in the banking system.
Overall, the monthly weighted average Open Buy Back (OBB) rates declined further from the 1.13 per cent in November, 2020 to 1.09 per cent in December, 2020.
On the equities market, the committee noted the positive performance, particularly the sustained patronage by domestic investors largely driven by the prevailing low yields in the money market.
The All-Share Index (ASI) increased by 1.82 per cent to 41,001.99 points as at January 22, 2021 from 40,270.72 points on December 31, 2020.
Similarly, Market Capitalization (MC) grew by 1.80 per cent to N21.44trillion from N21.06trillion over the same period.
This improved performance was largely attributed to gains recorded in medium and large capitalized companies, notably in consumer goods, banking, insurance and oil and gas sectors.
The Monetary Policy Committee (MPC), however, noted the marginal increase in the Non-Performing Loans (NPLs) ratio which rose to 6.01 per cent at end-December, 2020 from 5.88 per cent at end-November, 2020 and above the prudential maximum threshold of 5.0 per cent.
While noting that this development is not unexpected under the prevailing circumstances, it urged the Bank to strengthen its macroprudential framework to bring NPLs below the prescribed benchmark.

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Accolades, Fanfare As Ogbakor Ikwerre President General Celebrates 80th Birthday

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The President General of Ogbakor Ikwerre Cultural Organisation Worldwide and the Mgboh XIII of the Mgboh Royal Family of Emohua Kingdom in Emohua Local Government Area of Rivers State, Eze (Barrister) Godspower Onuekwa, penultimate Friday celebrated his 80th birthday with pomp, pageantry and fanfare.

 

The celebration, which commenced with a symposium organised in his honour at Rivers State University on Thursday, August 21,2025, got to a resounding climax on Friday at Suntai Event Centre in Port Harcourt, where people from all walks of life, including business associates, friends, well-wishers, relatives, community folks, traditional rulers, and admirers, gathered to pay glowing tributes to the celebrant.

 

Before then, a well attended thanksgiving service was held that same Friday at Emmanuel Anglican Church, Okoro-Nu-Odo, to honour him and return gratitude to God Almighty for the fruitful and eventful life and accomplishments of the Emohua leader and icon.

 

 

The service which was officiated by Rt Rev Wisdom Budu Ihunwo, Bishop of Niger Delta North had other renowned and respected clerics like Most Rev(Dr) Blessing Enyindah, Dean, Church of Nigeria (Anglican Communion); Rt Rev(Dr) Emmanuel Oko-Jaja, Bishop, Diocese of Niger Delta; Rt Rev Innocent Ordu, Bishop, Diocese of Evo; and Ven Solomon Eze Nelson, Archdeacon, Okoro-Nu-Odo; among others lined up as officiating ministers.

 

The service lived up to its billing, as it featured powerful and soul-lifting praise and worship; point-blank prayers; and beautiful renditions, which electrified the entire atmosphere, essentially packaged to thank God for the life of the celebrant.

 

However, the crowning moment actually came when the who is who, the crème de la crème of the society, thronged the terraces and fabulously decorated expansive hall of Suntai Event Centre, to celebrate Eze Onuekwa, amid accolades, aplomb and panache, wining and dining, and clinking of glasses with him and all.

 

The chairman of the colourful ceremony, Chief Evans Woherem, who was represented by Eze(Prof) Christian Akani of the prestigious Ignatius Ajuru University of Education, praised the celebrant for his youthfulness in spite of clocking 80 years, generosity, humility, humaneness and selfless services to the Ikwerre ethnic nationality, the Niger Delta and Nigeria, and called on all and sundry to emulate his good legacies and simple disposition towards life and existence.

 

Goodwill messages also poured in in torrents to underscore and salute the doggedness, resilience, astuteness and uniqueness of the endearing life of the celebrant, with Prof Emenike Wami, the Ochia Ohna Ikwerre(XIV), taking the lead.

 

Prof Priye Iyalla, the wife of late renowned writer, novelist and playwright, Dr Elechi Amadi, held the audience spellbound as she masterfully reeled out the profile of the celebrant, amid intermittent applause from the crowd.

 

The Tiv Community from Benue State, resident in Rivers State, were not left out, as they honoured and decorated Eze Onuekwa in their complete traditional regalia.

 

Cultural displays from Baptist Church, Rumuowhor; ADNA Wogbuji Dancing Group, Egbeda; Tiv Dancing Group; and Promoter Eze and Rumu-Mgboh Emohua Wrestling Group, equally added colour and grace to the occasion, with the celebrant and his wife, Dame Ann Onuekwa, joining them to wriggle their waists and bodies in ecstasy.

 

In his response, the highly elated celebrant, Eze Onuekwa thanked all those gathered to celebrate with him, saying, celebrations would never cease in their homes, and attributed everything he represents in life, including his modest accomplishments to God.

 

Eze Onuekwa, while addressing newsmen, harped on the need for hard work among the youths and members of Ogbakor Ikwerre Cultural Organisation Worldwide, as a way of sustaining and giving meaning to the motto of the organisation, which he noted is anchored on peace, unity and progress.

 

He specially thanked God for sustaining his life, and for making everything possible for him and his family, saying, he was joyous that he has today become an octogenarian and elder statesman in Rivers State.

 

His son and medical practitioner, Dr Samuel Chizia Onuekwa expressed delight that people from far and near had come together to celebrate the father, whom he described as a role model and great inspirator.

 

He said it was a good thing that the children were celebrating their father when he is alive, stressing that the last time Eze Onuekwa was celebrated in such magnitude was 20 years ago, during his 60th birthday celebration, and prayed God to grant him many more years in good health.

 

Among dignitaries who graced the event were Senator Andrew Uchendu; Chief Sampson Agbaru; Prof Emenike Wami; Dr Peter Didia; Eze(Prof) Samuel Ugo Onyeka; and a host of others. Justice Iche Ndu(rtd); and C O Kattey were among personalities that attended the thanksgiving service, while the Vice Chancellor of Rivers State University, Prof Isaac Zeb-Obipi led the academics who graced the symposium, alongside Eze G A O Omodu.

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Ensure That Ogoni Is Heard In The Right Way, HYPREP Urges Creative Arts Trainees

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As the 100 Ogoni youths trained by the Hydrocarbon Pollution Remediation Project (HYPREP) in Creative Arts close out their training on Tuesday at the Theatre Arts Department, University of Port Harcourt, the Project Coordinator of HYPREP, Prof Nenibarini Zabbey, has urged the beneficiaries to use the skills acquired to ensure that the Ogoni stories are told and heard in the right way.

The trainees, who had completed a four- month training in script writing, film production and make-up are beneficiaries of the HYPREP sustainable livelihood programme, aimed at providing high demand skills to Ogoni youths in the lucrative creative arts and entertainment industry.

Zabbey described the Creative Arts training as well as other programmes and interventions as HYPREP’s strategic sustained effort to create alternative sources of livelihood.

”Targeted capacity building for Ogoni youths and women remains a central strategy in HYPREP’s livelihood restoration and improvement efforts. Our goal is to reach every part of the Ogoni community and ensure that no group or talent pool is left behind. This training is a deliberate step to empower young people who aspire to make their mark in the creative and entertainment industry”, he said.

While commending the trainees for producing four short films within the training period, one of which was premiered at the ceremony-Dirty Festival, the Project Coordinator noted that the training would serve as a springboard into the industry, and enable them earn a living, become entrepreneurs, and open new doors of opportunities for themselves and their communities. The three other movies are Open Pain, Bomu and Green War.

He enjoined them to utilise their skills and platforms to promote civic responsibility, peace, and environmental sustainability, urging them to ensure that Ogoni is heard in the right way, speak for HYPREP and highlight the progress being made in implementing the recommendations of the UNEP Report.

Other speakers at the event, including the Director of Technical Services of HYPREP, Prof. Damian-Paul Aguiyi; Dr Ovunda Ihunwo, Head of the Theatre Arts Department of the University of Port Harcourt; Chief Douglas Experience, the Project Coordinator of Halibiz Consult Limited; and Mrs Josephine Nzidee, Head, Sustainable Livelihood of HYPREP, all applauded HYPREP for the training, and charged the trainees to maximise the opportunity.

The trainees were later presented certificates of participation.

Visibly elated Ms Lebee Tornwe, one of the beneficiaries, thanked HYPREP and the Project Coordinator for offering the trainees the rare opportunity to acquire skills in the creative arts and entertainment industry, and expressed delight that Dr Ihunwo and Halibiz Consult Limited gave their all in grooming them.

With the wrapping up of the Creative Arts training(100), HYPREP has trained 230 Ogoni youths in high demand skill sets ,viz; seafaring(100); and aviation (30). The Project will this year, commence training in other skill areas, including Mechatronic, Aviation, Full-Stack Development, Commercial Diving, Underwater Welding and Geographic Information Systems (GIS).

Still in the offing is the training for Ogoni Persons Living with Disabilities in five skill sets- fish farming; basic computer skills; photography; fashion and design; and shoemaking in line with their Needs Assessment and HYPREP’s policy of inclusivity.

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NYCOP Urges Stakeholders To Develop, Empower Ogoni Youths

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The National Youth Council of Ogoni People (NYCOP) had called on stakeholders to work collaboratively towards the development and empowerment of Ogoni youths.

NYCOP made the call in a communique issue over the weekend after an emergency Congress in Port Harcourt and signed by its President, Comrade Raymond Nwibani Marcus.

In the communique, NYCOP endorsed President Bola Tinubu’s appointments of the Governing Council and Board of Trustees (BOT) members of the Hydrocarbon Pollution Remediation Project (HYPREP), particularly Rt. Hon. Emmanuel Nwika Deeyah as Chairman of HYPREP’s BOT.

It respectfully appealed to the President to consider appointing a representative from the Movement for the Survival of the Ogoni People (MOSOP) under the leadership of Engr. Olu Andah Wai-Ogosu, being the pioneering social vehicle for Ogoni advocacy since the inception of the Ogoni struggle, adding that it would significantly contribute to the decision-making process.

The body commended the overall management of HYPREP and urges the President to continue funding the HYPREP project.

NYCOP furthermore recommended considering the conversion of HYPREP from a project to a full-fledged agency of the Federal Government of Nigeria.

The communique also stated that NYCOP thanked President Tinubu for establishing the Federal University of Environmental Technology, and for appointing key staff, forming a dialogue committee, and initiating infrastructural projects like the Eleme axis of the East-West Road and the Bonny-Bodo Road, significantly enhancing regional connectivity and economic prospects.

 

In solidarity with the Renewed Hope Agenda, the endorsed President Tinubu’s second-term bid, saying it believes his leadership embodies the aspirations of the Ogoni people and Nigerians at large.

“After thorough consideration of the Disciplinary Committee’s report, NYCOP resolves:

” To indefinitely suspend Comrade Nade Nade Burale from his position as Secretary General due to misconduct.

“To declare Comrade Saviour Imeabe persona non grata on Ogoni youth issues, given his actions’ potential to instigate crisis in Ogoni and beyond” the communique stated.

NYCOP in his resolution issued a 7-day ultimatum to former HYPREP BOT Chairman Mike Nwialeghi to explain the $100 million HYPREP fund investment, warning of potential litigation.

NYCOP reaffirmed its commitment to safeguarding Ogoni youth interests and preventing personal aggrandizement.

According to the communique the resolutions demonstrate NYCOP’s efforts to promote the collective welfare and advancement of Ogoni youth.

“We will no longer tolerate any individual or group using the name or issues of Ogoni youth for personal aggrandizement.

” Our mandate is clear: to promote the collective welfare and advancement of Ogoni youth” the communique said.

NYCOP passes a vote of confidence in Hon. Emmanuel Nwika Deeyah, acknowledging his impeccable credentials and credibility to lead the BOT of HYPREP effectively.

 

Kiadum Edookor

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