Business
Amaechi Commissions Ultra Modern ICT Centre … Rates Zenith Bank High
The Rivers State Governor, Rt. Hon. Chibuike Rotimi Amaechi says the establishment of Information, Communications and Technology (ICT) centre in Port Harcourt would help to increase business activities in the state.
Governor Amaechi stated this Wednesday in Port Harcourt at the official Commissioning of the Ultra-Modern Information, Communications and Technology Centre, donated by Zenith Bank Plc, to the state government, saying that the idea behind the establishment of the centre was completely that of the Managing Director of the Bank, Jim Ovia.
He expressed the hope that ICT, beyond its negative uses in Nigeria where some persons use it to perpetrate fraud, was an avenue to interact globally, and could serve as a place for people to go and study computer or ICT in the state.
The State Chief Executive, who expressed confidence in the relationship between the state government and Zenith Bank, said the government would discuss with the bank to see if they can partner in the management of the centre.
Governor Amaechi noted that the people of Rivers State were grateful to the Bank for her contributions towards the growth of the economy of the state, adding that their friendship with the state government would continue.
Earlier, the Deputy Managing Director, Zenith Bank Plc, Mr Godwin Emefiele, who represented the Group Managing Director, Mr Jim Ovia, said the fully equipped Information Communications and Technology (ICT) centre was donated by the Bank to the Rivers State Government as part of its social responsibility programme, as well as its cardinal policy to show gratitude to the Rivers Community for providing an enabling environment for business to strive in the state,
Mr Emefiele said the establishment of the centre was anchored on Governor Amaechi’s vision for the development of the state, based on active corporate involvement under Public Private Partnership (PPP) Scheme.
He also said the centre is aimed at enhancing government’s development aspirations since ICT is development, and assured the Governor of their commitment to continue the partnership.
Meanwhile, Zenith Bank Plc has been placed on “B” rating for its high level of transparency in its partnership with the Rivers State Government.
Making the pronouncement, midweek, at the official commissioning of the information, communication and Technology (ICT) centre in Port Harcourt, the state Governor, Rt Hon Chibuike Rotimi Amaechi said by this feat, the bank has earned being awarded mega developmental projects.
According to the governor, in addition to the commissioned ICT centre donated by the bank, the finance institution is partnering with the state government in some on-going projects in the state.
In appreciation of the donation of ICT centre, Amaechi promise that the government would take care of the paying of salaries to employees of the centre.
He also promised the bank plots of land along Omagwa and Isiokpo area of the state as part of the state government’s contribution for a modern school promised by the bank to support government’s effort in restoring the standard of education in the state.
Governor Amaechi called on other banks and organizations in the private sector in the state to emulate Zenith Bank Plc in its partnership with government to develop the state.
In his keynote address, the Deputy Managing Director of the bank, Mr Godwin Emefiele thanked Governor Amaechi for providing the platform and stirring the interest of the private sector to contribute to improve the lives of the people in the state.
Mr Emefiele also thanked governor Amaechi and the entire people of the state for their unalloyed support and unwavering confidence on the private sector over their years of operation in the state.
He said the support was instrumental to the donation of the fully equipped (ICT) centre to the government and the good people of Rivers State.
According to him, the project is part of the bank’s cardinal policies to show gratitude to the community that has provided an enabling environment for the bank to render services.
Enoch Epelle
Business
Food Vendors, Others Relocate To New Site At PH Airport
The raging controversy between the Port Harcourt International Airport Management and restaurants/canteen operators and theirallies over relocation has been brought under control, as the operators have commenced relocation to their structures at the new site.
Recall that there had been serious feud over a directive by the Manager of the airport, Mr. Michael Area, for food vendors and their allies to relocate to the new site.
They insisted that the new site was too distant and hence, would negatively affect patronage from customers, with possible loss.
They further also insisted that it wouldcost them much money to put up another structure, given the economic situation in the country, since the airport management did not build any structure for them, apart from providing the empty land they have to also pay for.
The situation had led to flexing of muscles, which made the Airport Manager to order for sealing of all shops, resulting in scarcity of food, as airport users could not find a place to eat, apart from the only Genesis fast food spot available.
As at last Friday, The Tide observed that most of the food vendors had transferred their structures to the new place, and had started doing business there already.
Meanwhile, customers have started settling down at the new location as they were seen patronising shops for foods and drinks, in spite of the distance.
Few of the remaining structures at the old site, The Tide further gathered, will also be removed as quickly as possible, and the owners are making efforts to get funds for the job to be done.
One of them, Mrs Aka Love explained that she was going to relocate to the new place before the end of March.
Currently, business activities at the old site have come to null, as the place which was usually a beehive of food, drinks and relaxation, has completely winded down.
By: Corlins Walter
Business
MOWCA Strengthens Maritime Crime Prevention
Secretary General of the Maritime Organisation of West and Central Africa (MOWCA), Dr. Paul Adalikwu, has stepped up interaction with the United States Government to lift restrictions placed on some member countries allegedly implicated in illicit shipping activities.
Adalikwu, who led a delegation from the MOWCA Secretariat to the US Embassy in Abidjan for a first leg of the strategic consultation aimed at promoting seamless participation of MOWCA countries in international trade within the global maritime space, reiterated the organisation’s commitment to the best ethical and lawful maritime practices.
Addressing the U.S Ambassador to Côte d’Ivoire, H.E Mrs Jessica Davis Ba, the MOWCA SG stated the organisation’s interest in promoting the International Ship and Port facility Security (ISPS) code which aims at enhancing security of vessels and their ports of call.
He expressed the commitment of MOWCA in promoting environmentally friendly, safe and cost effective shipping without any encumbrance that may limit the economic potential of member countries.
Dr Adalikwu recalled that at the instance of the U.S. Department of State invitation, MOWCA participated in the 2023 Registry Information Sharing Compact (RISC) Conference in Larnaca, Cyprus, on February 28–March 1, 2023, and a virtual meeting held on June 6 2023, with Mrs Jennifer Chalmers, Officer in change of Counterproliferation Initiative.
He recalled The U.S. DOS willingness to support MOWCA’s effort for preventive maritime security through the establishment of the Center for Information and Communication (CINFOCOM) with the aim to ensure a maritime situational awareness domain within MOWCA’s member states’ waters.
He added that MOWCA under his watch is committed to training and retraining of maritime practitioners and experts to enhance the human capital capabilities of member states.
The CINFOCOM will help prevent transnational crimes committed at sea like sanctions evasion by North Korea and other state actors, who exploit poor enforcement due diligence by ship open registries to circumvent United Nations and U.S. trade restrictions.
By: Nkpemenyie Mcdominic, Lagos
Business
Nigeria’s Public Debt Hits N97.3trn – DMO
The Debt Management Office (DMO) has hinted that Nigeria’s public debt increased by 10.7 per cent from N87.87 trillion in the third quarter of last year, to N97.34 trillion as at December 31, 2023.
DMO, in an update data released last Friday, said the increase in the debt stock was largely due to new domestic borrowing by the Federal Government to part finance the deficit in the 2024 Appropriation Act and disbursements by multilateral and bilateral lenders.
The office noted that the N97.3 trillion public debt comprises of domestic debt of N59.12 trillion and external debt of N38.22 trillion. The sum of $3.5 billion was used to service external debt during the review period.
“Nigeria’s Public Debt Stock as at December 31, 2023 was N97.34trillion or $108.229 billion. This amount comprises the domestic and external debt stocks of the Federal Government of Nigeria (FGN), the 36 States Governments, and the Federal Capital Territory (FCT).
“There was an increase of N9.43 trillion over the comparative figure for September, 2023, which was largely due to new domestic borrowing by the FGN to part finance the deficit in the 2024 Appropriation Act and disbursements by multilateral and bilateral lenders.
“At N59.12 trillion, total domestic debt accounted for 61 percent of the total public debt stock, while external debt at N38.22 trillion accounted for the balance of 39 percent.
“Consistent with the debt management strategy, Nigeria’s external debt stock was skewed in favour of loans from multilateral (49.77 percent) and bilateral lenders (14.02 percent) or total of 63.79 percent which are mostly concessional and semi-concessional.
“Whilst the DMO continues to employ best practice in public debt management, the recent and on-going efforts of the fiscal authorities to shore up revenue will support debt sustainability”, DMO stated.
By: Corlins Walter
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