Business
Bayelsa, Israel Partner On Fish Farm
The Bayelsa State Gover
nor, Hon. Seriake Dickson, has disclosed that his administration would collaborate with an Israeli agro firm to construct one of its proposed massive fish farms in Boro town, Kolokuma/Opokuma local government area of the state.
Dickson disclosed this while fielding questions from newsmen during the on-the spot assessment of some of the projects sites in the state
He said the collaboration is to boost fish production in the state for local consumption and export.
The Governor has, therefore, called for the cooperation of the chiefs and people of the community, especially in the provision of land for the immediate commencement of the project.
Accompanied by top government functionaries, Dickson expressed satisfaction with the pace of work in some of the sites visited, stating that some of the projects will be completed on or before the deadline.
The projects sites visited include; Isaac Jasper Boro College of Education, Sagbama, Teachers Training Institute at Bolou Orua, Isaac Boro immortalisation project and a 2,500 capacity spectators’ pavilion in Kaiama and the NYSC permanent orientation camp in Kolokuma/Opokuma Local Government.
Others are; Isaac Boro family House, the Memorial Institute and Low cost Housing Estate situated within the Boro town.
Describing the completed administrative and hostels blocks of the new NYSC permanent orientation camp as standard, the Governor observed that the project when completed would rank among the best in the country.
According to him, the facility would not be underutilised at any point in time, as it could also be used for other programmes such as youth leadership training.
Conducting the Governor round the camp, the state Commissioner for Works and Infrastructure, Mr. Lawrence Ewhrudjakpo, explained that the six hostel blocks which are nearing completion will accommodate a thousand corps members.
Dickson, who ordered the inclusion of a sick-bay as an additional structure at the camp, also directed the commissioner to extend the main access road to the parade ground.
At the Isaac Jasper Adaka Boro College of Education, Sagbama Town, Hon. Dickson, inspected the access road, administrative block, ICT library and one block of 24 classrooms that have been completed.
The state Commissioner for Education, Chief Salo Adikumo, the Provost of the College, Professor Saviour Agoro and the Registrar, Dr. Guagha Berezi, conducted the governor round over 24 ongoing projects including hostels, offices and science laboratories which are at various levels of completion.
Responding to some requests of the college, the governor promised that government would survey and acquire more lands for the construction of other critical infrastructure.
Governor Dickson, however, urged the contractors to redouble their efforts and ensure the completion of the projects for commissioning on or before February, next year.
Other projects the Governor inspected include the referral general hospital Sagbama site, for the construction of the Abadiere Childrens’ Home, Tungbo and internal roads at Toru Orua, his country home.
Edun made the call while speaking at the 2025 Fellowship Investiture of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, where he reaffirmed the federal government’s commitment to sustaining ongoing reforms and expanding access to finance as key drivers of economic growth beyond four per cent.
“We all know that monetary policy under Cardoso has stabilised the financial system in a most commendable way. Of course, it is a team effort, and those eye-watering interest rates have to be paid by the fiscal side. But the fight against inflation is one we all have to participate in,” he said.
The minister stressed the need for banks to broaden credit access and finance innovation-driven enterprises that can create jobs for young Nigerians.
“The finance and banking industry has more work to do because we must finance their ideas, deepen the capital and credit markets down to SMEs. They should not have to go to Silicon Valley,” he said.
The minister who described the private sector as the engine of growth, said the government’s reform agenda aims to create an enabling environment where businesses can thrive, access funding, and contribute meaningfully to job creation.
The facility, known as the Nigeria Actions for Investment and Jobs Acceleration (P512892), is a Development Policy Financing (DPF) operation scheduled for World Bank Board consideration on December 16, 2025.
According to the Bank’s concept note , the financing would comprise $500m in International Development Association (IDA) credit and $500m in International Bank for Reconstruction and Development (IBRD) loan.
If approved, it would be the second-largest single loan Nigeria has received from the World Bank under President Bola Tinubu’s administration, following the $1.5 billion facility granted in June 2024 under the Reforms for Economic Stabilisation to Enable Transformation (RESET) initiative.
The World Bank said the new programme aims to support Nigeria’s shift from short-term macroeconomic stabilisation to sustainable, private sector–led growth.
“The proposed Development Policy Financing (DPF) supports Nigeria’s pivot from stabilization to inclusive growth and job creation. Structured as a two-tranche standalone operation of US$1.0 billion (US$500 million IDA credit and US$500 million IBRD loan), it seeks to catalyse private sector–led investment by expanding access to credit, deepening capital markets and digital services, easing inflationary pressures, and promoting export diversification,” the document read.
The document further stated that Nigeria’s private sector credit-to-GDP ratio stood at only 21.3 per cent in 2024, significantly below that of emerging-market peers, while capital markets remain shallow, with sovereign securities dominating the bond market.
To address these weaknesses, the DPF will support the implementation of the Investment and Securities Act 2025, operationalisation of credit-enhancement facilities, and introduction of a comprehensive Central Bank of Nigeria rulebook to strengthen risk-based regulation and consumer protection.
The operation also includes measures to deepen digital inclusion through the passage of the National Digital Economy and E-Governance Bill 2025, which will establish a legal framework for electronic transactions, authentication services, and digital records.
Beyond the financial and digital sectors, the programme targets reforms to lower production and living costs by tackling Nigeria’s restrictive trade regime. High tariffs and import bans have long driven up consumer prices and constrained competitiveness, particularly for manufacturers and farmers.
Under the proposed reforms, Nigeria would adopt AfCFTA tariff concessions, rationalise import restrictions, and simplify agricultural seed certification to increase the supply of high-quality varieties for maize, rice, and soybeans. The World Bank projects that these measures will help reduce food inflation, attract private investment, and enhance export potential.
The operation is part of a broader World Bank FY26 package that includes three complementary projects—Fostering Inclusive Finance for MSMEs (FINCLUDE), Building Resilient Digital Infrastructure for Growth (BRIDGE), and Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW)—all focused on expanding access to finance, strengthening institutions, and mobilising private capital.