Niger Delta

‘Why Delta Opted For N50bn Bond’

Published

15 years ago

May 8, 2011

Chief Afam Obiago, Economic Adviser to Governor Emmanuel Uduaghan of Delta says the state government opted for a N50-billion bond as part of measures to improve on the state’s economic potential.

Obiago who spoke in an interview with newsmen in Asaba said the bonds market offered the cheapest source of funds and a rescue package for governments to execute projects.

“First of all the bonds market gives you the cheapest kind of funds in terms of interest rate. Secondly the bond market gives you a long moratorium; that is the repayment period.

And then what that immediately means is that it frees you from the stranglehold of what otherwise commercial loans from the bank will put you through.’’

The adviser stressed that the best option for governments to source funds and execute projects with ease was through such bonds.

“Every government must look for funds to be able to create value and in the process of looking for funds you must look for the cheapest possible funds.

“And you cannot rely only on the funds that come to you either by revenue allocation from the federal government or internally-generated revenue. Those funds are actually supposed to be your collateral for more funds.”

“Delta state particularly has a lot of projects that could create value to governance and to its citizens. Therefore the bonds market gives us a leverage to be able to implement our programmes.

Obiago listed some of the programmes to be executed as the airport project, the Koko Free Trade Zone, the rehabilitation of schools and the upgrading and standardisation of other infrastructure.

Niger Delta

Make God Your Anchor To Fulfill Destiny, Cleric Charges Christians … As Jaja Marks 70th Birthday

Published

21 hours ago

December 5, 2025

The Tide

The Lead Pastor at Jesus Appointed People’s Bible Church, Ozogbe, Ikwerrengwo-Etche, in Etche Local Government Area of Rivers State, Pastor Promise Nwaelele, has urged Christians to make God the anchor of their lives in whatever position they find themselves, in order to attain the destinies set for them by God.

Pastor Nwaelele, who gave the charge recently in a sermon he preached at the 70th birthday anniversary thanksgiving service of Sir Donald Michael Jaja, a veteran journalist in Rivers State, said this is because any genuine child of God is a permanent target for destabilization and destruction by the devil.

Taking his text from the Bible book of Mark 4:16-17, the preacher stated that fulfilment in life for a child of God required faith, obedience to God’s word, humility and grace to withstand trials and temptations.

According to him, temptations and afflictions are bound to happen in the lives of those who have accepted Jesus Christ as their Lord and Savior.

“No wonder the Bible said that those that endure till the end shall be saved”, he said.

The Clergyman said God prospers believers who are humble, not proud and conceited, and leads them to destiny fulfilment.

“David said in Psalm 51:17, that the sacrifices acceptable to God are a broken spirit, not an impatient or proud spirit”, the preacher said.

He called on Christians not to allow persecutions and afflictions to sway them from the love and blessings of Jesus Christ.

On his part, Jaja, a seasoned Journalist who retired as an Acting Editor of the Rivers State Government-owned The Tide Newspaper, gave thanks to God for honouring him by giving him the grace of attaining 70 years.

“I cannot capture what the good Lord has done for me in my entire life in this fleeting moment of thanksgiving. But, I know that without Him, I wouldn’t have been who I am today, in all spheres. Therefore, my joy knows no bounds as I give thanks to my creator today, alongside my family. Praise be His holy name”, Jaja said.

Niger Delta

Remember Me As Fighter Against Sexual Harassment – UNICAL VC

Published

22 hours ago

December 5, 2025

The Tide

The outgoing Vice-Chancellor of the University of Calabar (UniCal), Prof. Florence Obi, has said she will want to be remembered for fighting sexual harassment and delayed results.

Obi made the remark recently at an event in Calabar, organised by the university to mark the end of her five-year tenure as the 11th substantive Vice Chancellor of the institution.

It would be recalled that Obi, whose tenure expired on November 30, was appointed Vice Chancellor on September 10, 2020, but officially assumed office on December 1, 2020.

She said her commitment to protecting students, especially the female ones, remained one of her greatest achievements as Vice Chancellor.

She said, “I fought against sexual predators and ensured timely release of students’ results to curb frustration within the institution.”

While expressing fulfilment at completing her tenure and thanking God for enabling her finish strong after five years in office, she said she would return to the classroom because teaching remained her passion.

Earlier, she addressed staff and students outside her office during a carnival-like, marching out parade in her honour, thanking them for their support throughout her administration.

She also encouraged them to support her successor to enable him to succeed and take the university to greater heights.

“This institution has recorded significant growth and I am confident that my successor will advance the progress already made”, she said.

The Tide’s source reports that under her leadership, the largest solar power plant in Cross River State was built in UniCal, ensuring stable electricity for the university and its teaching hospital.

Other achievements included upgrading the Faculty of Education to a College, getting Mass Communication accredited and elevated to a Faculty.

Her administration also constructed new hostels, introduced departmental scholarships, built a fire service station, and completed the Law Faculty complex.

Niger Delta

Oborevwori Presents N1.664tn 2026 Appropriations Bill

Published

24 hours ago

December 5, 2025

The Tide

Delta State Governor, Sheriff Oboreveori, on Wednesday, presented the 2026 Appropriation Bill of N1.664 trillion to the State House of Assembly.

Presenting the bill during plenary of the Assembly in Asaba, Oborevwori said, “I wish to announce a budget proposal of N1.664 trillion for the services of Delta State Government in 2026.”

He said the amount comprised the sum of N499 billion, representing 30 per cent of total budget for Recurrent Expenditure, and N1.165 trillion representing 70 per cent of total budget for Capital Expenditure.

The Governor added that the 2026 budget size indicated an increase of N685 billion, or 70 per cent over the 2025 Appropriation.

He also said sources of funds for the 2026 budget as proposed would be mainly from statutory allocation, internally generated revenue, mineral derivation, and Value Added, Tax among others.

Giving breakdown of the budget proposal, he said the state was earmarking N450 billion for road projects across the state in the 2026 fiscal year.

He said, ”A well-developed road infrastructure is a catalyst for economic growth.

”It facilitates easy movement of goods and services, reduces transportation costs, attracts investment, and improves access to markets and thereby boosting socio-economic development and generating employment opportunities.

”Agriculture is key to economic diversification and sustainable development.

”We shall continue to devote considerable attention and resources to fast-track developments in the agricultural sector towards enhancing food security in Delta State.

”This will also enable economic diversification, promote self-reliance, and generate employment opportunities.”

The Tide’s source reports that the sum of 10 billion has been earmarked for the Ministry of Agriculture and Natural Resources in the 2026 Budget.

Oborevwori, who is the immediate past Speaker of the Assembly, commended the House for its partnership and urged members to expedite consideration and passage of the budget to sustain ongoing development momentum.

He reaffirmed his administration’s commitment to building “a prosperous, secure, and stronger Delta where no one is left behind.”

In his remarks, the Speaker of the State House of Assembly, Mr. Dennis Guwor, commended Oborevwori’s administration for the steady strides recorded under the “Renewed Hope for MORE Agenda”.

”Over the past year, we have witnessed sustained investments in critical infrastructure, impactful social interventions, prudent fiscal management of resources, and strategic initiatives aimed at promoting peace, security, and economic stability across the State”, he said.

Guwor also commended the Governor for approving the Consolidated Legislative Salary Structure (CONLESS) and initiating the construction of permanent offices for the Assembly Service Commission.

He assured the Governor of the Assembly’s resolve to undertake a thorough and timely review of the appropriation bill, stressing that the Legislature remains committed to people-centered governance, accountability, and equitable development.

“Your Excellency, I want to assure you that the entire Members of this 8th Assembly are united behind your vision for the transformation of the State.

”While our roles in government are distinct and protected by the Constitution, our objectives remain aligned; delivering the greatest good to the greatest number of the people of the state”, he stated.