Business
NEMA RE-Affirms Commitment To Disaster Management
The National Emergency Management Agency (NEMA) was established 10 years ago to help disaster emergency management, response and provision of disaster assistance to victims.
But 10 years after, many Nigerians have not figured out the functions of NEMA due to ignorance.
Speaking to a group of journalists recently in an interactive session, the zonal coordinator of NEMA, south-south, Umesi Emenike said the Agency is coming to the centre stage by coordinating, sensitizing, educating and enlightening people by collaborating with other agencies, organisations, in respect to disaster cases.
Emenike noted that the Agency is poised to alleviate the pain and agony of victims of disaster not just from the area of providing relief measures but by assisting during emergency and providing solutions against disaster.
The rural coordinator revealed that earlier in the year, the Agency had warned that there would be flooding in most part of the country and warned that drainage facilities be cleared, but that warning was not adhered to which subsequently caused flooding in most of the states, including Rivers State.
He said the Agency has been working with humanitarian organisations and volunteers to form a kind of synergy that will help adhere government policy in the country.
Emenike who also dived into the recent amnesty granted by the militants, said NEMA may consider taking steps by looking into the plights of communities that were affected by militant activities in the Niger Delta region with a view to rehabilitating them.
He commended the federal government for the amnesty granted to the militants but pleaded that the communities affected during the crisis should be rehabilitated.
He blamed the public for not reporting disasters to the agency promptly pointing that, the act of not informing NEMA was always responsible why the Agency don’t respond to emergency timely.
Emenike urged that the Agency is fully funded and has all type of equipment in ease of rescue or emergency period.
According to him, During disaster or emergency period, NEMA has the statutory power to order any company to move its equipments to the disaster area immediately. “This is because we collaborate with all the Agencies and organisations in the country he added.
He noted that if crisis or accidents is re ported in time, NEMA is always up in meeting up the task.
The zonal coordinator disclosed that the Agency has commence training of new volunteers in Edo, Bayelsa, Delta, Cross River, Akwa Ibom and Rivers State on ways to manage emergency, response to crisis and general road safety. The training also comprises how to rescue people and victims from vehicle, in road accident.
He however announced that the zonal headquarter in Port Harcourt, the Rivers State capital will organise a summit for emergency management, simulation exercise at the airport, and other measures, towards saving lives and disasters from occurring.
Emenike further advised Nigerians to always ensure timely report of emergency and disaster related cases to enable them effectively respond to them.
Timely reports of emergency cases to appropriate authorities shall in no small measure enhance the performance of the relevant agencies in managing emergency cases he emphasised.
The NEMA boss recalled that the Agency which was established 10 years ago has succeeded in positioning itself well in some concept through the collaboration with relevant organisations and volunteer groups within and outside the country.
As the ember months set in, the Agency said it always organise workshop and public lectures allowing the Federal Road Safety Commission (FRSC) to do the talking, sensitizing, educating the drivers and other road users of the need to be extremely careful while on the road.
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Edun made the call while speaking at the 2025 Fellowship Investiture of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, where he reaffirmed the federal government’s commitment to sustaining ongoing reforms and expanding access to finance as key drivers of economic growth beyond four per cent.
“We all know that monetary policy under Cardoso has stabilised the financial system in a most commendable way. Of course, it is a team effort, and those eye-watering interest rates have to be paid by the fiscal side. But the fight against inflation is one we all have to participate in,” he said.
The minister stressed the need for banks to broaden credit access and finance innovation-driven enterprises that can create jobs for young Nigerians.
“The finance and banking industry has more work to do because we must finance their ideas, deepen the capital and credit markets down to SMEs. They should not have to go to Silicon Valley,” he said.
The minister who described the private sector as the engine of growth, said the government’s reform agenda aims to create an enabling environment where businesses can thrive, access funding, and contribute meaningfully to job creation.
Business
FG Seeks Fresh $1b World Bank loan To Boost Jobs, Investment
The facility, known as the Nigeria Actions for Investment and Jobs Acceleration (P512892), is a Development Policy Financing (DPF) operation scheduled for World Bank Board consideration on December 16, 2025.
According to the Bank’s concept note , the financing would comprise $500m in International Development Association (IDA) credit and $500m in International Bank for Reconstruction and Development (IBRD) loan.
If approved, it would be the second-largest single loan Nigeria has received from the World Bank under President Bola Tinubu’s administration, following the $1.5 billion facility granted in June 2024 under the Reforms for Economic Stabilisation to Enable Transformation (RESET) initiative.
The World Bank said the new programme aims to support Nigeria’s shift from short-term macroeconomic stabilisation to sustainable, private sector–led growth.
“The proposed Development Policy Financing (DPF) supports Nigeria’s pivot from stabilization to inclusive growth and job creation. Structured as a two-tranche standalone operation of US$1.0 billion (US$500 million IDA credit and US$500 million IBRD loan), it seeks to catalyse private sector–led investment by expanding access to credit, deepening capital markets and digital services, easing inflationary pressures, and promoting export diversification,” the document read.
The document further stated that Nigeria’s private sector credit-to-GDP ratio stood at only 21.3 per cent in 2024, significantly below that of emerging-market peers, while capital markets remain shallow, with sovereign securities dominating the bond market.
To address these weaknesses, the DPF will support the implementation of the Investment and Securities Act 2025, operationalisation of credit-enhancement facilities, and introduction of a comprehensive Central Bank of Nigeria rulebook to strengthen risk-based regulation and consumer protection.
The operation also includes measures to deepen digital inclusion through the passage of the National Digital Economy and E-Governance Bill 2025, which will establish a legal framework for electronic transactions, authentication services, and digital records.
Beyond the financial and digital sectors, the programme targets reforms to lower production and living costs by tackling Nigeria’s restrictive trade regime. High tariffs and import bans have long driven up consumer prices and constrained competitiveness, particularly for manufacturers and farmers.
Under the proposed reforms, Nigeria would adopt AfCFTA tariff concessions, rationalise import restrictions, and simplify agricultural seed certification to increase the supply of high-quality varieties for maize, rice, and soybeans. The World Bank projects that these measures will help reduce food inflation, attract private investment, and enhance export potential.
The operation is part of a broader World Bank FY26 package that includes three complementary projects—Fostering Inclusive Finance for MSMEs (FINCLUDE), Building Resilient Digital Infrastructure for Growth (BRIDGE), and Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW)—all focused on expanding access to finance, strengthening institutions, and mobilising private capital.
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