News
RVHA Okays Gov’s N100bn Loan Request
The Rivers State House of Assembly has approved the request of the Rivers State Governor, Rt Hon Chibuike Rotimi Amaechi to obtain a revolving term loan of one hundred billion naira (N100bn) from Guarantee Trust Bank Plc.
The approval followed deliberations by Assembly members and a vote yesterday on the governor’s request made to the House.
The revolving loan, according to Governor Amaechi, “ will be utilized to finance various developmental projects currently underway in the state, and will be repaid with proceeds from internally generated revenue of the state based on agreement”
The amount which represents total loan package to be drawn from three years period, at 8% fixed interest rate, with a maximum of single draw thirty billion naira (N30bn) only.
Contributing to the debate, the Deputy Speaker of the state Assembly, Hon Leyii Kwane said the governor’s loan request was proper in view of the enormity of development challenges in the state, and listed some of the various development projects being embarked upon by the state government.
Hon Kwane who represents Khana Constituency II also emphasised the need for the House to review upwards, its oversight functions, especially in the monitoring of internally generated revenue which he said, was the most viable means of ensuring repayment of the revolving loan.
In her contribution, Hon Victoria Nyeche representing Port Harcourt constituency I urged the House to give approval to the request since it was to finance on-going projects, insisting that the Guarantee Trust Bank’s interest rate was considerably minimal, if compared to what obtain in other banks.
Hon Augustine Ngo of Abua/Odual constituency also spoke in support arguing that the loan, when obtained, would certainly quicken the timely delivery of various on-going projects in the state, especially those of road construction.
Also contributing, Hon Onari Brown of Akuku Toru constituency I, said that the Rivers State internally generated revenue (IGR) profile indicates that the state is well equipped to pay back the loan.
He said that the Amaechi administration has so far demonstrated a strong political will to develop the state and has exhibited true frugality and assured that with such antecedent, the loan cannot be a debt burden for future administrations in the state
Hon Martins Amaewhule of Obio/Akpor constituency I and his counterpart in Obio/Akpor constituency II, Hon Micheal Chinda also spoke in support of the approval of the loan request, with the argument that it would help fast-track development in the state.
Before ruling on the issue, the Speaker, Rt Hon Otelemaba Amachree, called for a vote during which all 25 members of the Assembly present voted unanimously in support of the loan request. The House later adjourned to Monday 29th August, 2011.
Taneh Beemene
News
NIGERIA AT 65: FUBARA HARPS ON UNITY, PEACE

The Governor of Rivers State, Sir Siminalayi Fubara, has begun the celebration of Nigeria’s 65th Independence anniversary with a Juma’at service where prayers were offered for the progress of the state and Nigeria.
Governor Fubara, who advocated for peace and unity of Nigeria during the prayers on Friday at the Rivers State Central Mosque, Port Harcourt, indicated that without peace, the accelerated development of Nigeria will remain in a limbo.
Governor Fubara, who was represented by Alhaji Abdurrazaq Diepriye, therefore urged citizens to remain patriotic.
According to him, “Allah has brought us this far. Without peace, we can not have progress and economic development. I call on all citizens irrespective of creed or tribe to remain patriotic.”
He thanked President Bola Tinubu for restoring peace in Rivers State while also using the forum to appreciate security agencies for their relentless effort in upholding the peace and unity of Rivers State and Nigeria.
The Chief Imam of Rivers State Central Mosque, Imam Ibrahim Yaloo, admonished Moslem faithful to always speak the truth, adding that those who obey Allah will be directed to good deeds and their sins forgiven.
Prayers were offered for Rivers State and Nigeria.
Other activities to mark the 65th Independence anniversary in the state include an Inter-denominational Church Thanksgiving Service on Sunday, 28th September and Parade Ceremony on Wednesday, 1st October.
News
Shettima departs New York for Germany after UNGA engagement

Vice-President Kashim Shettima departed New York on Sunday after representing President Bola Tinubu at the 80th session of the United Nations General Assembly.
In a statement released on Sunday by the VP media aide, Stanley Nkwocha, the Vice President is now headed to Germany, where he will hold strategic meetings with officials of Deutsche Bank.
The statement read, “Vice President Kashim Shettima has departed New York, United States, after successfully representing President Bola Ahmed Tinubu, GCFR, at the 80th Session of the United Nations General Assembly.
“During his participation at UNGA 80, VP Shettima secured UN Secretary-General António Guterres’ commendation for Nigeria’s bid for a permanent UN Security Council seat.
“He also showcased Nigeria’s $200 billion energy transition opportunity to global investors and strengthened strategic partnerships with the UK on trade, defence, and migration issues.”
Nkwocha added that the VP delivered Tinubu’s national statement, calling for UN reforms and a permanent seat for Nigeria at the UN Security Council, and “demanded Africa’s control over its $700 billion mineral wealth, and digital inclusion initiatives.”
“He also engaged with the Gates Foundation on healthcare and education expansion, positioning Nigeria as the natural hub for the African Continental Free Trade Area’s $3.4 trillion market.
“VP Shettima was seen off at John F. Kennedy International Airport, New York, by cabinet Ministers who were part of the UNGA 80 delegation and Nigerian Mission officials.”
The aide noted that Shettima will return to Nigeria immediately after his engagements in Germany.
The Tide source recalls that the VP departed Abuja, yesterday.
He led other Nigerian officials at the Assembly.
News
FG holds special thanksgiving service ahead of 65th Independence Day

As part of Nigeria’s 65th Independence anniversary celebration, the Federal Government held a special thanksgiving service on Sunday at the National Ecumenical Centre in Abuja to offer prayers and give thanks for the nation.
The event drew top government officials and security chiefs, including Senate President Godswill Akpabio and Secretary to the Government of the Federation, George Akume, as well as their spouses.
Other notable guests included Finance Minister and Coordinating Minister of the Economy Wale Edun, former Plateau State Governor, Senator Simon Lalong, and the Chief of Defence Staff, General Christopher Musa, who led the service chiefs in attendance.
Service chiefs present included the Chief of Naval Staff, Vice-Admiral Emmanuel Ogala, Inspector-General of Police Kayode Egbetokun, Comptroller-General of the Nigerian Immigration Service, Mrs Kemi Nandap and Controller-General of the Nigerian Correctional Service, Sylvester Nwakuche, among others.00
The service came days after the government unveiled the official theme and some of the activities slated for the 2025 Independence celebrations.
This year’s anniversary is tagged “Nigeria @ 65: All Hands on Deck for a Greater Nation,” as announced by the Director of Information and Public Relations at the Office of the Secretary to the Government of the Federation, Segun Imohiosen, in a statement on Wednesday.
“As part of activities to mark the 65th Independence Anniversary, the Juma’at Prayer and the Inter-Denominational Church Service will be held on Friday, 26th September at 1 pm and Sunday, 28th September at 10 am respectively, as well as the World Press Conference on Monday, 29th September at 10 am,” he said.
The Tide source had earlier reported that President Bola Tinubu, alongside former Heads of State, Yakubu Gowon, Olusegun Obasanjo and Goodluck Jonathan, is expected as a special guest at a national discourse convened by the Island Club, Lagos, to mark Nigeria’s 65th Independence Anniversary.
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