Business
A Summit To Celebrate
The curtain was drawn last Friday on the 1st Andoni-Opobo-Nkoro
Economic Zone Development Summit, 2012 which took place at the Hotel
Presidential, Port Harcourt.
Initiated and sponsored by the member representing Andoni,
Opobo/Nkoro Federal Constituency in the House of Representatives, Hon Dakuku
Peterside, the initiative represented an
attempt by a people to take their fate in their own hands.
The Andoni, Opobo/Nkoro geographical area today, is a major
oil and gas producing zone whose natural endowments contribute to the nation’s financial mainstay.
Prior to the discovery of the liquid gold as the crude oil is often referred to,
the people of Andoni, Opobo/Nkoro had thrived on their natural endowments in
the era of the palm produce trade.
They were a people bound together by common geographic, economic and
developmental challenges until divisive politics both at the national level and
in the geographical area weakened the bonds that bound them together, virtually
destroying their individual and collective potentials for growth and
development.
For many an Andoni,
Opobo or Nkoro indigene, especially the merchants of politics of division and
doomsday prophets, a rapprochement, the magnitude of which
was achieved by the summit under review was impossible
and unthinkable.
The remarkable success of the 1st Andoni Opobo-Nkoro
Economic Zone Development
Summit, 2012 in aggregating the challenges, and aspirations of the zone
through their peoples –youths, intellectuals and community leaders is therefore
worth celebrating.
The quality of speakers, discussants and presentations at
the two-day summit is enough to transform the zone into an economic giant in
Nigeria, if only, ideas without works avails anything.
If however, the people of the zone indeed adopt and
implement the recommendations of the summit
in a phased, consistent and pragmatic manner, then the theme of the summit-Shared responsibility, shared
prosperity would have been realised.
Participants were
agreed on the need for the summit to be an annual event that would continue to
bring people of the zone together to assess achievements on set targets.
They also whole-heartedly accepted the proposal by the
Deputy Speaker, House of Representatives
of the Federal Republic of Nigeria, Rt Hon. Emeka Ihedioha that the summit be subsequently hosted in either Andoni, Opobo or Nkoro on a rotational basis
instead of Port Harcourt, to enable
participants appreciate the challenges of the zone.
Amaopusenibo Bobo Brown may have set the tone for the
summit, when at the first plenary session, he noted that politics of divide and
rule had torn the people of the zone apart.
Brown, former National President of the Nigerian Institute
of Public Relations who spoke as a discussant on “Local Economy For
Andoni-Opobo –Nkoro”, stated that it was
foolhardy for the people of the zone to think that they have a population that could sustain any
massive production.
Reason? They have over 300,000 impoverished people who have become economic refugees, he said.
He however anchored the benefit of the summit on its timeliness
in putting people of the area in position to become relevant and competitive in
state and national economy, especially in this era of global economic recession.
According to him, such foresight as displayed by the
convener of the summit was what the local economy needed and not going back to
the old economic activities of the area.
Both Engr Ernest Nwapa, Executive Secretary, Nigeria Content Development and
Monitoring Board and Prof Michael Onyekonwu, Director, Institute of Petroleum
Studies, University of Port Harcourt stressed the need for people of the zone to equip their youths with the
relevant training and skills to be active participants in the competitive
oil/gas sector business.
Nwapa noted that 98 per cent of the nation’s oil blocs are in the hands of the oil majors-Shell, Agip, Mobil, Chevron etc
and that the Nigerian Content Act was designed to make Nigeria a great oil
producing nation through the development of her refining capacity and a skilled workforce.
He said that the Nigerian Content Fund which
will be launched on October 24, was dedicated to human capital
development in the oil/gass sector pointing out that when Nigeria is able to
develop her refining capacity and robust
supply chain then youths that
possess relevant skills will benefit.
In his contribution, Prof Onyekonwu stressed the need for
community involvement in the oil industry business through the empowerment of youths with relevant education and skills.
The oil industry is driven by money, technology and people,
he noted, and charged people of the zone to develop their youths so that they
could actively participate.
While expressing disappointment that people of the zone have not had one
person trained at the Institute of Petroleum Studies, University of Port
Harcourt in which he is director, Onyekonwu canvassed the award of scholarships
to youths of the zone who secure
admission in the world’s best10 universities, as a way of developing skilled
manpower relavant for their participation in the oil industry business.
Engineer Sampson Ngerebara, a former Commissioner for Works
in Rivers State in his presentation
xrayed the role of infrastructure in driving sustainable economic development
in the zone and strategies to achieve them.
While asserting that
the challenges were intimidating, Ngerebara recommended among other measures,
the Eastern Obolo model in which a
synergy between the people and operators/project promoters culminated in the
establishment of a refinery in the area with
spill-over socio-economic
benefits and development.
Ngerebara believed
that when people of the Andoni-Opobo-Nkoro economic zone become united, focused
and determined in their quest to use their endowments to develop their
territory, multinational companies and others interested in their resources
will partner with them to bring investment and development to the zone.
Many seasoned and celebrated intellectuals and professionals
enriched the summit with their cerebral presentations.
They included the Head and Resident Representative, United
Nations Institute for Training and Research, Nigeria, Dr Larry Boms; Professor
of Development Sociology and Director Centre for Ethnic and Conflict Studies,
University of Port Harcourt, Prof Mark Anikpo and the Executive Director, Rivers State
Sustainable Development Agency, Mr. Noble Egbert Pepple.
Others included the President, Uptonville Oil and Gas
Institute, Prof Winston Bellgam, a seasoned petroleum engineering professional,
Engr Don Boham, Director-General, Greater Port
Harcourt City Development Authoritiy, Dame Aleruchi Cookey-Gam and a
Consultant Pediatrician at the
University of Port Harcourt, Prof
Alice Nte among others.
The success of the summit is a testimonial to the vision of
the convener, Hon Dakuku Peterside to reposition the zone to be relevant in
contemporary national economic order.
It represents the
will of a newbreed politician and patriot to dismantle and replace the
discredited and archaic politics of divide and rule with politics of
inclusiveness, shared responsibility, and shared prosperity.
The youthful politician who the Deputy Speaker, House of
Representatives described as one of the thinkers and eggheads in the House,
received lavish encomiums and blessings
from participants, elders and leaders of thought from the zone for blazing a trail in the
socio-economic affairs of the impoverished but richly endowed zone.
Accolades were also poured on the chairman,
Andoni-Opobo-Nkoro Economic Zone Development
Foundation Board of Trustees, Sir Emiyarei Ikuru and his members for the
planning and execution of the summit.
What is left to be seen is how, over the coming years, the product of the summit will
lead to the realization of an integrated economic zone, providing attractive
investment opportunities and nourishing
the people and their landscape with the good life and infrastructural
development as envisioned by the
convener and stakeholders.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.
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