Connect with us

Business

Amaechi: The Govt House Correspondent’s Perspective

Published

on

The mere mention of
the name Chibuike Rotimi Amaechi sparks different images in the minds of Rivers people and Nigerians in general. A vibrant, bold and fearless man, Amaechi is a shrewd but blunt politician, who combines activism with governance.
Often times, the amiable governor has said that he wants to demystify governance. He frowns at every bit of protocol and bureaucracy. He views simplicity as a far side of complexity. But the more one seeks to study the simplicity that surrounds him, the more one is confounded by his altruistic nature.
Naturally, the governor is blunt, straight-forward and open to a fault.  It is these attributes that imbue him with some element of mystery. He confounds his political opponents and thinks ahead of them, an attribute that has made him survive the treacherous Nigerian political landscape.
Rt Hon Amaechi has, over the years, learnt the political rope fast and adeptly. One phoney aspect of his political journey is that the governor has always leaned to the left. He is a tough Marxist who believes governance should serve the general good of society based on a welfarist policy of free education, health and provision of employment.
For instance, at a time when majority of Rivers men and women were tilted to the Social Democratic Party (SDP), the governor was in the National Republican Convention (NRC).His minority stand later paid off, when Dr Peter Odili became deputy governor and he was appointed a Special Assistant on Student Matters. He later joined the Democratic Party of Nigeria (DPN) along with his political mentor, Odili who was then angling for the governorship of the state.
As if nature was ever smiling to him, Dr. Odili won the governorship in 1999 and Amaechi again trounced his opponents and later emerged as the first Ikwerre man to become the Speaker of the State House of Assembly. Eight years later, he became the first Ikwerre man to become governor of the state. A man of many firsts that is! And now, the governor has joined other progressives in the All Progressives Congress (APC), considered to be a leftist party.
Recently, he told traditional rulers who visited him under the banner of Supreme Council of Ikwerre Traditional Rulers Council that though his kinsmen had considered him a sell-out and working against the Ikwerre interest at that time, now it has paid off.
Amaechi began to nurture a socialist prism which was honed by Marxist university academics like late Prof Claude Ake, Prof Ndemili, Nkem Okoh and others at the University of Port Harcourt where he studied English and Literary Studies. He saw the university environment as a preparatory ground to launch into full time politics to pursue his quest for an egalitarian society. He became a student activist, first as a member of the Students Coalition Against Apartheid in South Africa and later President of National Union of Rivers State Students (NURSS). It was the presidency of NURSS that actually exposed him to actual political currents.
Whatever prism one views the chief executive of Rivers State, one thing is glaringly true of him: he is not a pretender and he embodies simplicity.
Two weeks ago , the young and vibrant governor drove off without any security detail in the early morning of Friday, 16th May, 2014 to go and buy fruits at the Fruit Garden Market in D-Line, Port Harcourt. On reaching there, he was nearly mobbed by women who were excited by the rare opportunity of engaging in business transaction with the governor.
Later same day, while playing host to women politicians of the APC, he explained why he took the action. “ I had told the kitchen to buy me fruits and vegetables because I was told by my doctor friend that if I take fruits and vegetables morning and evening without eating anything, this stomach will go down. So when I told them to buy me fruits and vegetables for three weeks, they did nothing. So, this morning, I asked for fruits and vegetables and nobody gave me anything.
“ A week ago, I had talked to my wife and said you are not the wife of the governor, you are the wife of Amaechi, can you buy me fruits and vegetables? She said no problem, I will buy for you. But this morning, there were no fruits and vegetables and without her knowing, I went to the fruits market. So I have bought fruits and vegetables for myself. If they don’t want to wash it, I will wash it myself because at the end of the day, first and foremost, the governor is a human being”, Amaechi stated.
That indeed is Rt. Hon Amaechi; blunt, active and ‘response-able’. Unlike most governors, he inspects projects, points out specifications and chides contractors who fail to meet expectations. During one of the inspection tours to Artillery,  he ordered a  contractor to pull down the drains and start afresh. He also arrested a top politician along Aba Road for traffic offence. He, on several occasions, stops his convoy and controls traffic. He also drives himself. A great enigma indeed!

Continue Reading

Business

FG Begins South-West Tour To Promote New Cooperative Bank

Published

on

The Federal Government has launched the South-West zonal engagement and ministerial advocacy tour on the Cooperative Bank of Nigeria share capital mobilisation, sensitisation and cooperative sector digitalisation.
 Reports say the initiative was launched through the Federal Ministry of Agriculture and Food Security.
According to reports, the advocacy tour, organised by the ministry’s Federal Department of Cooperatives, began on Monday in Lagos.
Speaking at the event, the Minister of State for Agriculture and Food Security and Supervising Minister of Cooperative Affairs, Dr Aliyu Abdullahi, said the initiative was part of President Bola Ahmed Tinubu’s Renewed Hope Agenda.
Abdullahi described the exercise as a strategic effort to reposition the cooperative sector as a key driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity.
“Today represents a defining moment in our collective determination to reposition the cooperative sector as a major driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity,” he said.
The minister noted  the modern cooperative movement in Nigeria originated in the South-West following the 1934 Strickland Report, which led to the enactment of the Cooperative Societies Ordinance of 1935.
According to him, the decision to commence the sensitisation and share capital mobilisation tour in the region is symbolic, as it marks a return to the roots of cooperative development in the country.
Abdullahi said the advocacy tour was a direct outcome of resolutions reached at the 8th Regular Meeting of the National Council on Cooperative Affairs held in Abuja in March 2026.
He said the council approved the Renewed Hope Cooperative Reform and Revamp Programme, a comprehensive framework designed to strengthen the cooperative sector and align it with the administration’s goal of building a one-trillion-dollar economy.
“The reform programme focuses on seven strategic pillars, including governance reforms, cooperative financing and the establishment of the Cooperative Bank of Nigeria, digitalisation, capacity building, value chain development, inclusion of youths, women and persons with disabilities, and strategic partnerships,” he said.
He said the establishment of the Cooperative Bank of Nigeria and the digitalisation of the cooperative sector were the two major transformational initiatives under the programme.
“The Cooperative Bank of Nigeria is aimed at rebuilding a strong cooperative financial system capable of supporting cooperators, farmers, artisans, traders, SMEs, youths, women and persons with disabilities with accessible and affordable financial services,” he said.
Abdullahi emphasised that the proposed bank would be government-enabled but not government-funded.
“Government is not establishing the bank as an owner, nor will it rely on Treasury Single Account funds.
“The role of government through the FMAFS is to provide policy support, stakeholder coordination, regulatory facilitation and an enabling environment under the Renewed Hope Cooperative Reform and Revamp Programme,” he said.
Also speaking, the Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, reaffirmed the state government’s commitment to cooperative sector transformation.
She described cooperatives as critical tools for promoting inclusive growth, grassroots productivity, food security, financial inclusion and community wealth creation.
Ambrose-Medebem said Lagos State would continue to support reforms and collaborate with stakeholders to ensure the successful implementation of the Renewed Hope Cooperative Reform and Revamp Programme (2025–2030).
“Together, let us build a cooperative ecosystem that is modern, transparent, digitally enabled, financially inclusive and globally competitive.
“Let us build cooperatives that not only mobilise savings, but also mobilise prosperity,” she said.
Continue Reading

Business

Customs Impound N2.35bn Cocaine, 15 Trailers of Rice

Published

on

The Nigeria Customs Service (NCS), Federal Operations Unit (FOU) Zone ‘A’, Ikeja, has impound Cocaine Substance valued at ?2.35 billion alongside 15 trailer-loads of foreign rice and a wide range of contraband across the South-West.
This was disclosed to Newsmen during a press briefing in Lagos by Controller of the Unit, Comptroller Gambo Aliyu,
Aliyu revealed that the seizures were made over an eight-week period, underscoring intensified enforcement efforts.
According to him, operatives foiled 473 smuggling attempts within the period, leading to the confiscation of 8,794 bags of 50kg foreign rice, 22 used vehicles, 328 bales of used clothing, and 31,705 litres of Premium Motor Spirit (PMS).
He said other seized items include a Mercedes-Benz vehicle and various food products such as poultry, vegetable oil, spaghetti, and sugar.
Aliyu clarified that the rice displayed at the briefing represented cumulative interceptions made at different locations and times across the zone.
“All the rice you see here are accumulative of seizures carried out at different places, at different times, and through different interdictions,”
Beyond the economic implications, the Comptroller emphasized the social cost of drug trafficking, warning that narcotics continue to destroy families and fuel criminal activities.
“It may surprise you to know that many homes are broken due to drugs.
” Our mandate is to cut off the supply chain, and that is exactly what we are doing,”.
Similarly Customs operatives at the Gbaji outpost intercepted a 71 year-old suspect along the Lagos-Abidjan corridor with 6.35kg of cocaine concealed in a Toyota Highlander.
The drugs, comprising both powdered and crystalline forms, were valued at ?2.35 billion.
Under a special enforcement drive, codenamed “Operation Hawk,” the unit also seized 3,340 parcels of synthetic cannabis, popularly known as “Ghanaian loud,” weighing 1,540kg.
 The substances, along with three suspects, have been handed over to the National Drug Law Enforcement Agency (NDLEA) for further investigation and prosecution.
In a related operation, officers intercepted four cylinders of mercury hidden in a vehicle along the same corridor. Aliyu described the substance as hazardous and subject to international regulation.
Overall, the Duty Paid Value (DPV) of the seizures stands at approximately ?5.5 billion, reflecting the scale of enforcement activities.
 Additionally, the unit recovered ?97.7 million through Demand Notices issued on under-declared consignments.
Aliyu reaffirmed the Service’s commitment to deploying modern technology—including geospatial intelligence, drone surveillance, and real-time tracking—to strengthen border security and clamp down on smuggling networks.
CHINEDU WOSU
Continue Reading

Business

Dangote,  Nicolai Tangen To Partner In strategic sectors

Published

on

Chief Executive Officer of Norges Bank Investment Management, Nicolai Tangen ( manager of the world’s largest sovereign wealth fund) has expressed interest in partnering with Dangote Group to expand investments across Africa, particularly in strategic sectors such as power, energy, renewable energy, agriculture, fertiliser and cement.
This was made known during a meeting of Chief Executive of Dangote Group, Aliko Dangote  with Nicolai Tangen, the manager of Norwegian investment institution (with assets estimated at about $1.9 trillion) .
Also present at the meeting were Svein Tore Holsether, Chief Executive Officer of Yara International, and Terje Pilskog, Chief Executive Officer of Scatec, a global renewable energy company.
The engagement reflects growing international investor confidence in Africa’s industrial and infrastructure potential, as well as the increasing role of indigenous conglomerates such as Dangote Group in driving large-scale economic transformation across the continent.
Industry observers say the proposed collaboration could create significant opportunities for investments in critical sectors linked to energy transition, food security, industrialisation and infrastructure development.
The Norwegian sovereign wealth fund, regarded as one of the world’s leading institutional investors, has in recent years increased its focus on emerging markets, with Africa seen as a major frontier for long-term investment and value creation.
Analysts believe a partnership between Norges Bank Investment Management and Dangote Group could unlock substantial capital flows into infrastructure and industrial projects across Africa, helping to accelerate economic growth and regional integration.
Nkpemenyie Mcdominic, Lagos
Continue Reading

Trending