Business
Amaechi Hails Skye Bank Over Investment In Transport Reforms
The Rivers State Governor, Rt. Hon Chibuike Amaechi has commended the Skye Bank for the huge investment it has undertaken in the transport sector reforms in the state.
The governor, who was very much excited over transport infrastructure that Skye Bank has put in place to transform transportation in the state, said that the bank’s efforts so far has given challenge to the people of Rivers State who mostly depend on government patronage without investing.
Amaechi made the commendation while speaking at the second Rivers State Transport Summit recently with the theme “The Rivers State Transport Sector Reform; the Journey so far”,
According to him, “over 20 per cent success of the transport system reforms is from partnership and funding by Skye Bank Plc”.
He therefore urged private individuals to also key into the transport sector reforms in the state by investing in the sector, and as well appealed to the Skye Bank management to increase the funding of the scheme by providing more vehicles to meet up with the high demand of commuters.
Also, the wife of the governor, Dame Judith Amaechi, who also is the founder of Empowerment Support Initiative (ESI) in the paper she presented at the summit titled “ Emerging Role of Women in Commercial Transportation; prospects and challenges” pointed out that Lady Cabbies scheme she pioneered is one of the intervention programmes of her NGO, aimed at creating women participation in the transport sector to enable them generate regular income.
She said “the ESI Lady Cabbies is one of the foremost gender commercial transport co-operative group in Nigeria and is managed by ESI”.
Mrs Amaechi also pointed out that the scheme is a boost to the commercial transportation of the state, and in line with the transport reforms programme of the present administration, and that the scheme is also financed by the Skye Bank in partnership with ESI.
On his part, the Commissioner for Transport, Hon George Tolofari said the partnership with Skye Bank Plc has been rewarding, adding that they have been able to build new and modern bus shelters and lay-bys, as well as acquire over 106 buses, currently plying the roads, and over 200 taxis to ease transportation in the city.
Speaking earlier, the Executive Director, Risk Management and South – South operations of Skye Bank Plc, Mr Ibiye Ekonye has said that the Bank has invested over N3 billion on the transport scheme, adding that the bank will continue to partner with Rivers State Government.
He said the bank has introduced a new face of transportation in Port Harcourt; the Port Harcourt City Bus Service (PHCBS) which was launched on June 2nd 2008 to reduce the suffering of Port Harcourt dwellers and also create employment.
The Skye Bank risk management director described the bank as the financier of the transport sector reform in the paper he presented titled “Conceptualisation and the PPP strategy driving the transport sector reform”.
He said that the bank has evolved a reliable and efficient mass transit system in three phases’ medium term (bus), Marin in the medium term and rail for median and larger.
Corlins Walter
The United States Trade Representative (USTR) has criticised Nigeria’s import ban on 25 categories of goods, claiming that the restrictions limit market access for American exporters.
This is the effect of President Donald Trump’s tariffs introduction on goods entering the United States, with Nigeria facing a 14 per cent duty.
The USTR highlighted the impact of Nigeria’s import ban on various sectors, particularly agriculture, pharmaceuticals, beverages, and consumer goods.
The restrictions affect items such as beef, pork, poultry, fruit juices, medicaments, and alcoholic beverages, which the United States sees as significant barriers to trade.
The agency argues that these limitations reduce export opportunities for United States businesses and lead to lost revenue.
“Nigeria’s import ban on 25 different product categories impacts United States exporters, particularly in agriculture, pharmaceuticals, beverages, and consumer goods.
“Restrictions on items like beef, pork, poultry, fruit juices, medicaments, and spirits limit United States market access and reduce export opportunities.
“These policies create significant trade barriers that lead to lost revenue for United States businesses looking to expand in the Nigerian market”, the agency said .
In 2016, Nigeria implemented the ban on these 25 items as part of efforts to control imports and stimulate local production.
Some of the banned items include poultry, pork, refined vegetable oil, sugar, cocoa products, spaghetti, beer, and certain medicines.
On March 26, 2025, the Federal Government also announced plans to halt solar panel imports to encourage local manufacturing as part of its push for clean energy.
A leading agribusiness strategist and digital agriculture expert, Ayo Oluwa Okediji, has sought cooperative-driven investments in sustaining growth of poultry industry in Nigeria.
He said the poultry industry was at a defining moment and requires urgent structural reforms to secure its future and ensure long-term sustainability.
Speaking on the theme, “Strengthening Poultry Farming Through Cooperative Synergy and Strategic Investments”, at the recently concluded Oyo Mega Poultry Workshop 2025 in Ibadan, Okediji called on poultry farmers, cooperative leaders, financial institutions and policy makers to rethink the existing structure of the poultry sector.
He stressed the need to transition from fragmented, individually-driven operations to well-structured, cooperative-led enterprises capable of attracting sustainable financing and securing long-term viability.
He said, “Our poultry sector cannot thrive on individual effort alone. We need to organise ourselves into cooperative clusters, build strong governance systems and position ourselves to attract the level of investment needed to sustain this industry beyond this generation.”
Drawing on lessons from successful global cooperative models such as Rabobank in the Netherlands and Landus Cooperative in the United States, Okediji introduced the FarmClusters Poultry Model, a locally adapted solution developed by Agribusiness Dynamics Technology Limited (AgDyna), a subsidiary of AgroInfoTech Africa.
According to him, the model is currently being piloted in Oyo State in partnership with PANOY Agribusiness Limited and local poultry cooperatives.
The Rivers State Representative of the Nigeria Chambers of Commerce, Mines, Industries and Agriculture (NACCIMA), Mr. Erasmus Chukwundah, has urged palm oil farmers to consider hybrid seedlings for planting, if they must break even in palm oil business.
Chukwundah said this recently at the Free Oil Palm Business Climate Smart Best Management Practice/Assistance Training organized by Partnership Initiative In Niger Delta (PIND) for Palm Oil Farmers in Elele, Ikwerre Local Government Area.
The Rivers representative said until palm oil farmers begin to consider such hybrid oil palm seedlings, they may not meet up with the daily increasing demand of palm oil in the market.
According to him, the seedlings produce up to 30 bunches at once that ripen same time.
He said PIND decided to partner with Oil Palm Growers Association of Nigeria (OPGAN) to ensure that the message was received by the targeted audience.
According to him, palm oil remained a popular choice of industry operators as it could be converted to many other products such as vegetable cooking oil.
He also noted that products such as motor tyers, marine ropes and others are now gotten from the palm tree.
Chukwundah, who is the immediate past Director-General of Port Harcourt Chamber of Commerce, Mines, Industries, and Agriculture (PHCCIMA), further warned against use of unrecommended fertilisers in growing oil palms.
He noted that such practices could limit its export value or chances as the foreign marketers have a way of detecting such .
He reiterated the need for organic fertilizers, including poultry droppings, to enable them have a natural palm oil.
“People must reduce physical contact with palm oil production. That is why we are campaigning for hydrolic oil mills. The foreign markets are no longer interested in crude method of palm oil production”, he said.
Meanwhile, one of the farmers, Sonny Didia, who appreciated Chukwundah’s commitment towards the concern of farmers, appealed for an urgent need for loan opportunity with low interest rate in order to enable them beat the target.
King Onunwor