Connect with us

Business

Institution Appeals For Release Of Counterpart Fund

Published

12 years ago

on

The Akwa Ibom State  Rural Finance Institution (RUFIN), has lamented the non- release of counterpart fund to ensure the success of the poverty-eradication programme in the state.

Speaking in an interview with newsmen in Uyo, the state Coordinator of RUFIN, Mr Earnest Awakessien, said the state government had not released its counterpart fund for 2011 and 2012.

He said that release and payment of the fund by the state government would attract 2.5million dollars from the international donor agencies to the state for successful implementation of the agricultural empowerment programme.

“Since the RUFIN programme is Counterpart Cash Contribution (CCC)- based, Akwa Ibom government had made a budgetary provision of N80 million for 2011 and the same amount for 2012 in the approved estimate.

“The fund is meant to take care of the government annual counterpart cash contribution and the soft loan microcredit facility assistance to the RUFIN farmers groups across the three senatorial districts of the state,’’he said.

Awakessien said that Akwa Ibom government was the first among the 12 states running the programme to pay its counterpart funding to kick start the empowerment programme.

He, however, expressed worry over the hitches experienced in the remittance of subsequent counterpart funds by the state government.

“We are sure the governor will release the counterpart fund so that we can access that of the international donors, but I feel something is wrong somewhere as we have been sending reminders,” he said.

According to him, the programme is important to the growth of the economy of the state as it contributes to the reduction of poverty through improvement of income, food security and sufficiency.

“The programme will also help to improve the general living conditions of the rural poor households with particular focus on women, youths and the physically challenged,’’ he added.

Awakessien said that the objective of the programme is to develop and strengthen microfinance institutions, establish a linkage between these institutions and formal financing institutions in order to create a viable and sustainable rural financial system.

He said that the essence of the programme was to enable the rural population to have access to credit facilities which would help them improve the productivity of small rural enterprises.

Awakessien said the state RUFIN had provided capacity training on financial management to the farmers, adding that more than 500 groups, including 20,000 households had been mobilised in the three senatorial zones.

He maintained that 240 of the said groups had been linked to micro-finance banks and other micro institutions where a total of N34 million had been mobilised as savings from the groups.

Awakessien said that more than N56 million had been extended to the rural folks as soft credits.

He commended the governor, Chief Godswill Akpabio, for creating the enabling environment for the programme to thrive, adding that release of the counterpart fund would enhance success of the programme.

Related Topics:
Continue Reading

Business

NPA Assures On Staff Welfare 

Published

1 week ago

on

June 27, 2025

By

The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure  and equipment  modernization drive  with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the  clearing  of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying,  “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President  of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
Continue Reading

Business

ANLCA Chieftain Emerges FELCBA’s VP

Published

1 week ago

on

June 27, 2025

By

National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
Continue Reading

Business

NSC, Police Boost Partnership On Port Enforcement 

Published

1 week ago

on

June 27, 2025

By

In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of  NSC, Dr. Pius Akutah, made this known during a visit to the  Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu
Continue Reading

Trending