Niger Delta
NLC Decries A’Ibom High Debt Profile
The Akwa Ibom State chapter of the Nigeria Labour Congress (NLC) has expressed fears over the state’s rising debt portfolio.
The body warned that if left unchecked, the debt may spell doom for the state. in the face of the current economic quagmire,
It further criticised the appropriation of N50 billion in the 2022 budget to service public debt.
The body’s stance was disclosed by the state chapter’s chairperson, Comrade Sunny James, at a public hearing on the state’s 2022 Appropriation Bill organised by the House of Assembly on Tuesday in Uyo.
“This is against N45.69 billion for this year 2021 and in 2020 which ragged N20.7 billion,” he pointed out.
The chairman also frowned at the state government’s growing appetite for financing long-term capital projects with non-concessionary commercial bank loans with short average-to-time maturity.
He called on the state legislators to take a close look at the scenario with the view to saving the state from going bankrupt.
He said: “A whopping N50 billion would be used to service the public debt. In 2021, debt servicing consumed N45.69 billion while in 2020 it gulped N20.7 billion.
“The Nigeria Labour Congress submits that the State’s rising debt portfolio is not sustainable in the face of persistent volatility in the primary energy products market and the global spectacle of energy transition.
“We have noted an increasing preference by the state government for the financing of long-term capital projects with non-concessionary commercial bank loans with short-average-to-time maturity (ATM).
“This belies rumoured vested interest in this regard is patently unhealthy for the state’s finances. We appeal to this honourable House to safe-guard our future by taking a more than cursory look at the nature and structure of the state’s debts,” he stressed.
Earlier, the speaker of the House, Mr. Aniekan Bassey, in his opening address said the public hearing was on the bill for a law to appropriate monies out of the consolidated revenue fund and capital development fund to the service of Akwa Ibom state government and other matters connected therewith.
Bassey stated that the exercise re-echoed the commitment of the 7th Assembly to live up to its mandate of making people-oriented laws and the abiding promise to have stakeholders and the generality of the people of the state fully involved in its deliberations through participatory legislation.
The speaker, who was represented at the event by his deputy, Mrs. Felicia Bassey, said the House would take all contributions presented by all participants at the public hearing, and where applicable, shall form part of the final draft of the bill before passage into law.
Niger Delta
Pro-Chancellor Hands Over Okey Onuchuku Peace, Conflict Institute Building
Speaking during the hand over ceremony, which attracted an array of personalities from various works of life, the 13th Pro-Chancellor and Governing Council Chairman of IAUE, Chief Chinyere Igwe, commended the Vice Chancellor of IAUE, Professor Okechuku Onuchuku, for giving back to the University with the institute’s building project.
While affirming that Government cannot do it all, he encouraged individuals, corporate organizations, institutional partners to ensure the growth of University education in Nigeria.
He praised Tertiary Education Trust Fund (TETFUND) for sustaining University Education in Nigeria, and called for good initiatives and support “that will not only benefit the University, but put IAUE on the map of academic excellence in Nigeria and beyond.”
Earlier, the Vice Chancellor, Professor Onuchuku, expressed gratitude to his wife, Mrs. Chika Onuchuku, and family for all the support given for the vision achieved.

He also thanked his close associates, political friends, well-wishers, and others who donated generously towards the building project.
“The growth of Universities all over the world”, Professor Onuchuku said, “comes from personal efforts of individuals, alumni associations and others.”
He noted that donations as being witnessed is the best way to go and called on all to invest in the Nigerian education system and immortalize their names with worthwhile donations and contributions..
The Okey Onuchuku Institute of Peace and Conflict Studies building, he further stated, “is donated as a Professorial Chair with the Dean of Postgraduate School, Professor Chibuzor Chile Nwobueze, also a Professor of Peace Studies, as the occupant of the Professorial Chair.
Giving his address, the Director, Okey Onuchuku Institute of Peace and Conflict Studies, Professor Kingdom Elendu Ohia Nwaenyi, lauded Professor Okechuku Onuchuku for sacrificing his hard earned salaries, allowances and funds raised from two volumes of textbooks in his honour and titled “Perspectives on Nigeria’s Development”, launched on his 60th birthday.
He noted that the project is the first legacy to be accomplished by any serving Vice Chancellor in the institution.
Professor Nwaenyi stated that the Institute mounted five programmes: Peace and Conflict Studies; Peace Building and Development; Peace Building and Security Studies; Peace Building and Conflict Management; and Peace Education.
The institute, he explained, has birthed over fifty students running programmes in Postgraduate Diploma, M.A, M.Sc, M. Phil, and PhD.
Thirty students are in the PhD programme, fifteen are admitted into the Masters and M.Phil, and eight in Postgraduate Diploma Programme.
He expressed hoped that the Institute would check litigation and provide alternative dispute resolution.
In a vote of thanks, the Chairman, Okey Onuchuku Peace and Conflict Studies and Dean of Postgraduate School, Professor Chibuzor Chile Nwobueze, thanked God for His grace and enablement.
He prayed for the donor and Vice Chancellor of IAUE, Professor Okechuku Onuchuku, and further expressed his gratitude to Professor Isaac Olawale Albert, the third most cited Peace Scholar in the world, for his collaboration in developing a world class curriculum.
While thanking all who supported and celebrated with the University in this regard, Professor Nwobueze assured the public that the Okey Onuchuku institute of Peace and Conflict Studies will emerge as a centre of excellence, contributing meaningfully to scholarship, policy formulation, community engagement and the promotion of peaceful coexistence within Nigeria, Africa and the global Community.
The Institute, he stated, is willing to partner with the Society for Peace Studies and Practice (SPSP) in line with its mandate to promote peace studies, Peace building, Conflict Management and sustainable development.
The institute has over four lecture halls with sixty to one hundred and twenty capacity, a befitting conference hall, offices for staff and a library.
A donation of one million naira was made during the event for the best two graduating students of the institute by Barrister Nyema Wagbara, the Leader of Dynamic Development Club of Port Harcourt based in Rumuolumeni.
Each of the two best graduating students will get the sum of five hundred thousand naira.
The event featured goodwill messages from Professor Isaac Albert, Professor Alwell Nteegah, the Chairman of Society for Peace Studies and Practice, Rivers State Chapter, Dr. Benjamin Ibietonye.
Dr. Emem Nyewene presented the goodwill message of the Society for Peace Studies and Practice National.
Others who gave goodwill messages are Ambassador Green Isaac, the Country Director, Relief International Africa, and Comrade Levi Zachariah George, Chairman Postgraduate Students Association.
The event also featured rendition for Professor Okechuku Onuchuku by Dr Maria Abidiak.
Niger Delta
Oborevwori Commends Police Over Arrest Of Electric Cable Vandals
Niger Delta
We’ll Study INC’s Reconciliation Committee Report – Diri
-
Rivers2 days ago
Rivers Police Uncovers Firearm Concealed In Loaf Of Bread
-
Niger Delta2 days agoPro-Chancellor Hands Over Okey Onuchuku Peace, Conflict Institute Building
-
Sports2 days ago
Six Nigerians To Play For NBA Teams
-
News2 days agoFubara Reaffirms Commitment To Blue Economy, Private Sector Growth …Calls For Protection Of Marine Resources
-
Business2 days ago
Gas Economy: Decade of Gas, Pi-CNG/ EV Deepen Media Engagement
-
Sports2 days ago
NPFL Warns Newly Promoted Clubs
-
Business2 days agoIPMAN Raises Concern Over Delay In Chinese Refinery Deal …Predicts Lower Fuel Prices Through Competition
-
Business2 days ago
Navy Nabs 13 Black Sand Miners In Bayelsa –Impound Two Boats
