Business
Monarch Endorses Andoni, Opobo/Nkoro Economic Summit
The Opobo/Nkoro council of traditional rulers have given their royal support and backing to the forthcoming economic development summit organised by the Andoni, Opobo/Nkoro economic zone foundation.
The royal fathers made this known when the steering committee for the economic summit set up by the foundation went on a sensitisation visit to the chiefs at Nkoro town.
Speaking on behalf of the Opobo/Nkoro council of Alapu (traditional rulers), the Amanyanabo of Opobo Kingdom, and chairman Opobo/Nkoro council of traditional rulers, king Dandeson Douglas Jaja, Jeki V. (JP), commended the efforts of Hon. Dakuku Peterside for thinking out the idea of the summit calling upon all those involved in driving the dream to see it as a clarion call to serve the people.
King Jaja, who sees the summit as an effort in the right direction that will propel the activities of the local economy however, advised that politics should not be allowed to take over the novel idea.
The royal father enumerated the abundance of resources in the area and called upon the state government to speed up actions towards the completion of the unity road, connection of the area to national grid, provision of potable water which will help to enhance the interest of investors to come and set up industries in the area.
Earlier, the secretary of the steering committee, Hon. Michael Donald Igolima, enumerated the plans, visions and missions of the foundation towards the development summit saying that the summit will help to set up a strategic plan to engage development partners even as it helps to showcase the abundant resources in the communities of the zone to investors and development partners.
Hon. Igolima said that through the summit the latent resources in the area will be exposed to the world to enable would be investors have first hand knowledge of what exists and the area to enable them avail themselves of the opportunities.
The foundation secretary who called on all to join them in showing to the world that there is so much in Andoni, Opobo/Nkoro federal constituency that investors can tap and invest in, listed some of the things going on in the area to include the peace in the suburb, abundant human and natural resources, tourism potentials like the important monuments, elephant sanctuary, the Opobo international boat race (OIB), the deposits of natural sand at the ocean banks, and so many others that can be turned towards the development of the area.
In his remarks, a member of the foundation steering committee, Amaopusenibo Igoni Willie Park, who was full of gratitude to the royal fathers for accepting the team, apologised for the seeming disconnect in their previously planned meeting with the Chiefs.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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