Nation
FG Disburses N2trn To Mitigate Covid-19 Impact
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.
Nation
UPWA Hosts Colourful Inter-House Sports Fiesta
The University of Port Harcourt Women Association (UPWA) on Thursday staged a vibrant and memorable edition of its Annual Inter-House Sports Competition at the University of Port Harcourt Sports Village, drawing an impressive turnout of pupils, parents, staff and invited guests.
The event, organised by the UPWA International Group of Schools, brought together children from the pre-nursery, nursery and secondary sections in a colourful celebration of youth athleticism, discipline and teamwork. The arena came alive with cheers and excitement as pupils, clad in their various house colours, marched in a ceremonial parade before proceeding to compete in a wide range of track and field events, relays, novelty races and other team-based activities designed to promote physical fitness and healthy competition.
Declaring the competition open, the Vice-Chancellor of the University of Port Harcourt, Professor Owunari Georgewill, commended UPWA for sustaining a tradition that continues to nurture young talents beyond the classroom. He noted that sports remain a critical component of holistic education, helping to build resilience, confidence, leadership skills and social interaction among children.
In her remarks, the President of UPWA, Professor Udeme Georgewill, expressed appreciation to parents, teachers and members of the organising committee for their dedication and sacrifice in ensuring the success of the programme despite prevailing economic challenges. She described the event as a reflection of unity and collective effort within the school community.
“This is the first time White House is emerging overall winner, and that shows remarkable improvement and great sportsmanship,” she said. “We all had fun. It is not easy putting an event like this together considering the economic situation, but we are grateful to the parents for being part of this journey. The excitement everywhere is truly heartwarming.”
The competition featured spirited participation from the various houses, including Purple House, San Chicago Red House and White House, with pupils demonstrating strength, speed, coordination and teamwork. Parents and supporters filled the stands, cheering enthusiastically and adding colour to the spectacle, while teachers ensured orderliness and safety throughout the proceedings.
Professor Georgewill emphasized that the true essence of sports lies not merely in winning trophies but in participation and personal growth. “Sports is not just about winning. It is an avenue for growth, discipline and opportunity. The fact that a child is able to participate is already a win. Losing this year does not mean you cannot win next year. Keep trying,” she encouraged, urging pupils to see both victory and defeat as stepping stones to greater achievements.
She further observed that while there are many competing interests in the Nigerian sports sector, consistent grassroots investment remains essential for discovering and nurturing future champions.
The colourful ceremony culminated in medal presentations, trophy awards and group photographs, with UPWA executives, including Vice President I, Professor Adedamola Onyeaso, joining the participating teams to celebrate the day’s achievements.
The annual inter-house sports competition continues to stand as one of UPWA’s flagship events, reinforcing its commitment to balanced education, character formation and the promotion of healthy lifestyles among its pupils.
Nation
Nigeria Risks Drifting Without Strong Education Policies-Don
Nigeria’s quest for national greatness may remain elusive if educational policies continue to suffer poor implementation, Prof Nathaniel Abraham has warned, declaring that education remains the strategic compass capable of steering the country toward sustainable growth and global competitiveness.
The respected scholar made this assertion while delivering the 206th Inaugural Lecture of the University of Port Harcourt at its Abuja Centre of Excellence. His lecture, titled, “The Rudderless Ship and Its Major Rescuer,” employed a striking maritime metaphor to illustrate the state of the nation’s educational system and, by extension, its development trajectory.
According to Prof. Abraham, the rudder, though a small and seemingly insignificant component located at the rear of a ship, determines the direction, stability, and safety of the entire vessel. Without it, even the most magnificent ship with powerful engines and sophisticated equipment will drift aimlessly and is at risk of wreckage. He likened this crucial component to educational policies in a nation’s governance structure, arguing that policies serve as the guiding mechanism that determines whether a country reaches its intended destination or wanders endlessly without direction.
In his analysis, he noted that Nigeria possesses abundant human and natural resources and is not! lacking in intellectual capacity or policy formulation. However, he emphasised that the country’s recurring challenge lies in weak implementation, inconsistency, and a culture of cutting corners.
He recalled that at independence in 1960, Nigeria stood shoulder to shoulder with several nations that are now classified among the world’s leading economies. The difference, he maintained, is not destiny or potential, but discipline and adherence to policy execution.
“What made them move forward was discipline and the will to implement policies the way they were designed. For as long as we trivialise our educational policies, we will continue to drift. But the moment we commit to proper implementation, Nigeria is destined for greatness,” he stated.
Prof. Abraham stressed that education remains the foundation upon which every other sector stands. He argued that a properly structured and effectively managed educational system produces competent manpower, ethical leadership, innovation, and national cohesion. Conversely, a poorly managed system weakens governance, slows economic growth, and undermines social stability.
Delving into higher education administration, the Professor identified funding as a critical coordinate of effective university management. Drawing from his scholarly publications in international journals, he explained that adequate and well-managed funding directly impacts teaching quality, research output, infrastructure development, staff motivation, and global competitiveness of universities.
He described the current funding situation in Nigerian universities as grossly inadequate, noting that without intentional and strategic financial investment, reforms may remain theoretical.
“Funding is very poor. If we address it deliberately and commit to doing it right, the transformation will be evident,” he affirmed.
Beyond funding, he called for collective responsibility in rebuilding the education sector, urging policymakers, administrators, lecturers, parents, and students to play active roles in restoring value and credibility to the system.
He emphasised that education should not be seen as the exclusive concern of those currently within school walls, but as a national asset that shapes future generations and determines the country’s long-term prosperity.
Respondents at the well-attended lecture described it as both diagnostic and prescriptive, noting that Prof. Abraham not only identified systemic weaknesses but also offered a roadmap for reform. Some participants expressed optimism that the insights presented could serve as a blueprint for policymakers if carefully studied and adopted.
The event drew members of the academia, deans, the clergy, stakeholders, and guests from various sectors who commended the inaugural lecturer for what many described as a courageous and timely intervention in the national conversation on education.
At the conclusion of the lecture, Prof. Abraham was flanked by deans and colleagues in recognition of his contribution to scholarship and public discourse.
The 206th Inaugural Lecture once again highlighted the role of the University of Port Harcourt as a centre for intellectual engagement and policy advocacy. More importantly, it amplified a central message: without a functional “rudder” in the form of faithfully implemented educational policies, Nigeria’s journey toward development may remain uncertain. But with discipline, adequate funding, and unwavering commitment to policy execution, the nation can chart a new course toward enduring greatness.
Nation
Ex-UNIPORT SUG Leaders Organise Symposium In Honour Of VC

Former Students’ Union Government (SUG) leaders of the University of Port Harcourt, have organised a one-day symposium in honour of the institution’s outgoing Vice Chancellor, Prof Owunari Abraham Georgewill, as his tenure draws to a close.
The maiden symposium, with the theme, “Resolution: From Agitations to Negotiations,” was convened by five past presidents of the university’s SUG as a mark of appreciation for what they described as a student-friendly and peaceful administration under the 9th Vice Chancellor of the university.
The event, held recently at the University of Port Harcourt Centre of Excellence, Abuja Campus, attracted past and present student leaders, members of the academic community, and invited guests.
In his remarks, the current SUG President, Sen. Amaechi Walson Tonye, said the cordial relationship between the Vice Chancellor and the student body informed the decision to organise the symposium, noting that students were proud to associate with a Vice Chancellor who consistently listened to their concerns and prioritised dialogue in resolving issues.
He commended the past SUG leaders for taking the bold initiative to honour the Vice Chancellor, describing the gesture as a reflection of the mutual respect and understanding that characterised the administration.
Speaking in an interview, Prof. Georgewill expressed gratitude to God and the students for the recognition accorded him. He described the honour as deeply significant, recalling that from his first day in office, he pledged to work closely with students to foster peace and ensure uninterrupted academic activities.
According to him, the peaceful atmosphere enjoyed on campus over the past five years was a result of deliberate engagement and a shared commitment to negotiation rather than confrontation.
“For the five years of my administration, we did not experience student-related demonstrations, closure of the school, or management-student crises, which are common in many institutions.We are celebrating because we chose negotiation over agitation. That is the essence of today’s honour,” he said.
He urged Vice Chancellors and student union leaders across the country to prioritise dialogue in addressing grievances, stressing that negotiation remains the best pathway to stability and academic progress.
Prof. Georgewill added that he would like to be remembered for humble and humane leadership anchored on inclusiveness and constructive engagement. He attributed the stability and infrastructural development recorded during his tenure to the grace of God and the cooperation of stakeholders.
The symposium featured a keynote lecture delivered by Prof. Obari Gomba, presentation of awards to the Vice Chancellor and the Dean of Student Affairs, Prof. Wokoma Chima, as well as a drama performance and goodwill messages from former SUG presidents.
Among those who spoke were Comrade Ubabuike Gift; Comrade Dickson Senibo; Comrade Okpara Martins; and Comrade Harmony Lawrence, who initiated and coordinated the event alongside other past student leaders.
The event concluded with renewed calls for sustained collaboration between university management and students to preserve the culture of peace and dialogue at the institution.
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