Business
A’Ibom Speaker Tasks Young Surveyors On N’Delta Environment
Nigeria’s young
professionals have been challenged to seek cutting-edge solutions to the myriad of challenges now facing the nation in order to assume their rightful positions as future leaders.
The Speaker, Akwa Ibom State House of Assembly, Rt. Hon. Onofiok Luke, gave the charge on Saturday while declaring open the 12th Regional South-South Young Surveyors’ Conference in the state capital, Uyo.
The Speaker who expressed delight that young professionals were taking interest in providing solutions to national challenges said the theme of the conference which was “Harnessing Geospatial Solutions for Environmental Challenges And Regional Development of South-South Nigeria” was apt.
Luke noted that decades of oil and gas exploration and exploration and several other practices injurious to the environment had left the Niger Delta region gravely endangered.
In seeking solution to these challenges, Luke said the young surveyors must know their root causes. He noted that despite the billions of Naira committed to infrastructural development by multi-national and development Agencies including the Niger Delta Development Commission (NNDC), very little impact is visible.
“You must ask, what happened to the royalties from multi-nationals to our communities, what happened to royalties from other sources. We all should be focused in providing solutions”, the Speaker said.
According to him, lack of planning in all sectors of national life was responsible for the challenges facing the nation and called for inter-face between surveyors and multi-national firms, as well as new approaches to providing solution.
He said that environmental challenges, including flooding and desertification call for the impute of surveyors to address and regretted that Akwa Ibom State has only about 3,000 registered surveyors.
He called on young surveyors to draw from the combination of experience and mentoring of old surveyors and youthfulness and cutting-edge technology of contemporary times to solve the nation’s environmental challenges. He assured that the state legislature will synergies with surveyors to provide legal framework for their recommendation.
In her speech, the Surveyor-General of Akwa Ibom State, Surveyor Mrs Emem P. Isang said the state government was in synergise with surveyors in addressing geospatial matters.
Donald Mike-Jaja
Business
Private sector gets N2.2tr credit in 30 days — CBN
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
Business
Solar Power: Host Communities Trust, Partner PIND To Light Up Ikwerre Communities
Business
NDDC Intensifies Women Empowerment Initiative Across Niger Delta
