Business
Regional Cattle Market Planned For S’East
The Abia State Govern-ment wants the Umuchieze Cattle Market to be transformed to a regional market to serve both the South East and South South zones of the country within the shortest possible time frame.
Comrade Chris Akomas, the deputy governor mentioned this when he inaugurated the reconstituted management committee of the market in his office at Government House, Umuahia, last weekend.
He described the government’s desire to upgrade the market as one of the present administration’s push towards the socio-economic development of the state and to boost its internally generated revenue.
Akomas told members that government demand for them to work out the modalities for the actualisation of the dream which he argued would create business opportunities for various trades and services.
“Considering the caliber of your membership” the deputy governor maintained” the government has no doubt that this lofty dream would be achieved as soon as possible to fast track the economy of the state’s.
Explaining that the effects of the current global financial crisis had been enormous on the third world countries, he noted that on the other hand it had forced the government to look inwards for respites.
The deputy governor who assured the committee of the commitment of the government for the success of the project, told the members to feel free to table its handicaps before the government for solutions.
Warning that government would not tolerate any form of unhygienic conditions in and around the market, he assured traders of the government readiness to partner with the security agencies to ensure the safety.
He warned the members against using their positions in the committee to forment trouble in the market and to consolidate of the existing harmonious relationship existing between the traders and the host community.
Akomas said the government took time to ensure that all the stakeholders that include the host community, Huasa community, concerned ministries, and Umunnechi local government council were included in the committee.
“You are not appointed to create divisions among the traders and the stakeholders, but you are appointed to manage the market and bring up to the level and standard the government desired”, he said.
In his response, Mr Sylvester Akpagu, the chairman of the committee said they were impressed that the government had found them capable of handling the project and assured of their total commitment to the realisation of the dream. He appealed to the government to always leave its door open to the committee for dialogue on any issue critical to the successful management of the market and solicited the corporation of the stakeholders.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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