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MAN Laments Effects Of Covid-19 On Economy 

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Manufacturers in Rivers and Bayelsa states have highlighted some of the challenges that confronted them during the Covid-19 pandemic in the country. 
They lamented that the pandemic had serious adverse effects on the manufacturing sector in the country. 
Speaking at the 37th Annual General Meeting (AGM) of Manufacturers Association of Nigeria (MAN), Rivers/Bayelsa chapter,  in Port Harcourt, last week, the President of the association, Engr Mansur Ahmed, said, “no economy will obtain a sustainable growth without a vibrant manufacturing industry”.
He described the theme of the AGM: ‘Covid-19 Pandemic and Survival Strategies in the Manufacturing Sector,’ as apt and timely, taking into consideration the devastating effects of the pandemic on the manufacturing sector in the country.
According to him, the pandemic caused low patronage for locally made goods, increased the rate of unemployment and high cost of doing business in the country, amidst epileptic power supply.
The MAN President, who was represented by the association’s Vice President, Eastern Zone, Engr Chukwuemeka Nzewi, said the papers presented at the AGM would give political leaders first hand information on the challenges facing manufacturers, in addition to the difficulties in accessing foreign exchange.
The guest speaker at the event, and National Deputy President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Dr. Emi Membere-Otaji, said Nigeria’s economy was already facing serious challenges from monetary and fiscal policy issues, insecurity and fall in crude oil price due to the Covid-19 pandemic.
“The catastrophic Covid-19 pandemic has dealt big blows on the economy and the usual ways of doing business, leaving in its trail a novel economy.
“For businesses to remain afloat, the strategy should be initially to survive by activating the business continuity plan, then to stay alive by building upon the new normal situation, secure and operationalize a transition roadmap from shock mode to short term priorities and long term needs and then finally to thrive on the new normal foundation, repositioning and innovating the business forward, in the light of the new reality”, he said.
He urged every business to build strong online presence and activate all social media strategies to reach millions of people, warning however, against those he called digital scammers that rove in the internet space.
In his welcome address, the chairman of MAN, Rivers/Bayelsa chapter, Senator Adawari Michael Pepple, listed the difficulty in accessing funds as one of the factors hindering industrialisation, saying most of the huge amounts bandied about as Covid-19 palliatives did not get to manufacturers in the zone. 
He decried the ever increasing electricity rates in the face of poor supply and low patronage of locally-made goods that have accumulated to an unsold stock of over N303.22 billion in the second half of 2020 from N202.16 billion recorded in the corresponding half of 2019.
Pepple also lamented over multiple taxes in Rivers and Bayelsa states and urged the governors of the two states to do something about it.

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Niger Delta Investment Summit Targets $5bn Inflows, 500,000 Jobs

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The Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) has unveiled the plans to host a major economic and investment summit aimed at attracting five billion dollars, ( N7 trillion) investments in addition to creating about 500,000 jobs over the next five years.
The Chairman of NDCCITMA Board, Ambassador Idaere Ogan, disclosed this in Port Harcourt, recently.
Ogan stated  that the initiative is designed to reposition the Niger Delta as a viable destination for sustainable economic growth and development.
He explained the summit would bring together investors, policymakers, manufacturers and business leaders from within and outside Nigeria to explore opportunities across key sectors of the regional economy.
According to him, the event is expected to attract high-profile participation, with President Bola Tinubu billed as Special Guest of Honour, while the Prime Minister of Barbados, Mia Amor Mottley, is expected to deliver the keynote address.
Ogan said the summit would focus on critical sectors including agriculture, manufacturing, logistics and the blue economy, which he described as areas with significant untapped potential.
He called on state governments, development partners and private sector stakeholders to support the initiative, stressing that collective efforts are required to unlock the region’s economic prospects.
 NDCCITMA chairman further stated that improving security conditions and increasing economic confidence in the Niger Delta have made the region more attractive to both local and foreign investors.
He emphasised that ongoing economic reforms at the national level have also contributed to creating a more favourable investment climate.
Also speaking, the Chairman of the Summit Organising Committee, Dr. Solomon Edebiri, said the event would prioritise the growth of small and medium-scale enterprises (SMEs) across the region.
He noted the summit would provide a strategic platform for networking, business partnership and policy dialogue aimed at strengthening the private sector.
Edebiri disclosed that findings from a recent business roundtable revealed significant untapped investment opportunities, which the summit seeks to harness through targeted collaborations.
He revealed that the event would feature exhibitions of viable projects, facilitate business-to-business and business-to-government engagements, and also promote innovations across multiple sectors.
According to him, the expected outcomes of the summit include job creation, increased industrial activity and improved livelihoods for people in the Niger Delta.
To build momentum ahead of the event, NDCCITMA said the body would embark on awareness roadshows across states in the Niger Delta, as well as in Lagos and Abuja, to attract broad participation.
King Onunwor
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NPA Targets N1.489tn Revenue In 2026

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The Management  of Nigerian Ports Authority (NPA) has set N1.489 trillion as its Internally Generated Revenue (IGR) target for the 2026 fiscal year.
NPA says the figure represents an increase of N21 billion over the N1.468 trillion target for 2025, which the agency exceeded with an actual revenue of N1.97 trillion.
 The Managing Director NPA, Dr Abubakar Dantsoho, stated this  during the agency’s 2026 budget defence before the Senate Committee on Marine Transport.
Dantsoho said  the authority was set to begin groundbreaking projects for the modernisation of Apapa and Tin Can Island ports to enhance global competitiveness.
According to him, of the projected revenue: N945 billion is allocated for capital projects, N447.5 billion for operating expenses, and
N90.6 billion for remittance into the Consolidated Revenue Fund (CRF).
The MD explained that the budget was anchored on the mantra, “Consolidation, Renewed Resilience and Shared Prosperity.”
Dantsoho said that the modernisation of Apapa and Tin Can Island ports were flagship projects aimed at boosting revenue.
“Apapa and Tin Can Island ports are old and no longer adequate for modern global port operations.
“Apapa Port is about 100 years old, while Tin Can Island Port is over 50 years old, with limited capacity for handling modern vessels and cargo volumes.
“Groundbreaking for their modernisation will commence within the next two to three weeks,” he added.
On the Treasury Single Account (TSA), Dantsoho said all revenues generated by the NPA are paid directly into the account managed by the Central Bank of Nigeria (CBN).
“We do not retain any funds. The Central Bank is the signatory and we must apply for funds whenever needed,” he explained.
Earlier in his remarks,Chairman of the Senate Committee on Ports, Sen. Wasiu Eshinlokun (Lagos Central), said the committee’s oversight function was collaborative rather than adversarial.
“Our goal is to work with you to strengthen institutional capacity, eliminate inefficiencies and ensure that every naira appropriated serves the public interest,” he said.
Chinedu Wosu
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NPF Disburses ?21.68m  To Fallen Heros’ Families …Reinforce Welfare Commitment 

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Nigeria Police Force has disbursed a total of ?21,678,120 to the deceased police officers families in Rivers State as part of ongoing welfare interventions by the force.
The gesture formed a major highlight of the activities marking  the 2026 National Police Day celebration in the state, underscoring renewed institutional focus on personnel welfare and post-service support systems.
The Commissioner of Police, Olugbenga Adepoju, who presided over the cheque presentation ceremony, said the initiative reflects the Force’s commitment to honouring officers who paid the ultimate price in their line of duty.
He explained that the financial support is designed to cushion the economic burden faced by bereaved families, while also reinforcing confidence among serving personnel about the Force’s long-term welfare structure.
Adepoju conveyed the sympathy of the leadership of the Nigeria Police Force to the beneficiaries, noting that the sacrifices of fallen officers remain invaluable to national security and public safety.
The police boss further stressed that sustained welfare interventions are critical to boosting morale, enhancing productivity, and strengthening institutional loyalty within the Force.
He reiterated that the welfare scheme aligns with broader reforms aimed at repositioning the Nigeria Police Force as a responsive and people-oriented institution.
Beneficiaries of the cheques commended the Inspector-General of Police, Olatunji Rilwan Disu, for prioritising the welfare of officers and their families through consistent and impactful interventions.
They described the initiative as timely and compassionate, noting that it would go a long way in alleviating financial pressures arising from the loss of their loved ones.
The families also acknowledged ongoing reforms under the current police leadership, which they said have strengthened trust, improved service delivery, and enhanced the overall image of the Force.
The Rivers State Police Command reaffirmed its commitment to sustaining similar initiatives as part of efforts to uphold the dignity, sacrifice, and legacy of officers who served the nation with distinction.
King Onunwor
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