Business

Establish Business Liaison Office In Rivers, Belemaoil Urges US

Published

8 years ago

April 11, 2018

In a bid to strengthen existing relationship and create more value for mutual benefits through collaboration between Nigeria and the United States of America, a leading indigenous oil company in the Niger Delta, Belemaoil Producing Ltd, has appealed to the US Commercial Department to establish a Business Liaison Office in Port Harcourt the Rivers State capital.
Founder/President of Belemaoil Producing Ltd, Mr Jack-Rich Tein Jr., made the appeal when the US Consul-General to Nigeria, Mr. John Bray paid a courtesy visit to the company. Speaking, while making a presentation of Belemaoil’s roadmap and vision during the visit at the company’s headquarters in Port Harcourt the Rivers State capital, yesterday, Mr. Tein Jr, stated that Port Harcourt is West Africa’s economic hub for oil and gas investment which operates over 85% of Nigeria’s economy.
He particularly, pointed out that establishing a business liaison office in Port Harcourt will enhance technical partnerships, procurement of equipment, materials and spare parts, acquisition of state-of-the-art technology, support home economy, and other bilateral relationships with Rivers State and Federal Government of Nigeria.
Mr Tein Jr., described the visit as very important to the company and expressed confidence that the US Consulate will heed to the appeal to establish a Business Liaison Office in Port Harcourt.
“What we have displayed here today is an appeal, for the US Department of Commerce which is headed by the Consul-General to have its Business and Liaison Office in Port Harcourt as a strategic business footprint in the Niger Delta.
“We want the US Department of Commerce to actually have a Business Liaison Office here. Port Harcourt being the economic base of West Africa in Oil and Gas, we believe strongly that we have gone a long way and that is why we are appealing to the Department to establish a Business Liaison Office in Port Harcourt that will foster strategic economic growth. The city is the heart of the Niger Delta and Nigeria’s Treasure Base and therefore such commercial presence will greatly foster economic and diplomatic cohesion,” he said.
Mr Tein Jr. told the visiting Consul-General that Belemaoil’s Model is aimed at making sure that the local communities where the company operates are developed in such manner that they build competencies in terms of technical support and trainings so that they too can achieve their lifetime dreams like Belemaoil.
He stated that Belemaoil Producing Ltd, which is the first indigenous oil company to emanate from an oil producing community in the whole of Africa, aims to create no fewer than 3,000 direct jobs in the near future.
He also stated that the Federal Government of Nigeria has benefitted in terms of peace and order with increased regional youth employment, investment friendly climate for other injectors/investors based on investment friendly environment maintained by Host Communities, increase in crude oil production and revenue through the Belemaoil Model.
Also fielding questions from newsmen shortly after the presentation, Tein Jr, further expressed willingness to help in promoting peace in Rivers State and the Niger Delta in order to create confidence in the US Department of Commerce for the establishment of the Business Liaison Office in Port Harcourt.
Speaking, the US Consul-General in Nigeria, Mr. John Bray, expressed happiness with the steps taken by Belemaoil Producing Ltd to foster peace in Rivers State and the Niger Delta, describing the company as a leading light for other companies.
Mr Bray, however, emphasized on the need for a peaceful election in the state, saying the perception of Rivers State the world over, is that the state has the highest rate of electoral violence.
On her part, an official of the US, Department of Commerce, Jennifer Woods stated that the delegation will look at possible areas where it can partner with Belemaoi and other operators to boost commerce in Rivers State.

Business

Boat Mishap Kills Pastor, Wife And Church Members In Brass Water

Published

5 days ago

May 18, 2026

The Tide

A boat accident in Bayelsa state has killed a serving Pastor, Wife and other church members along Brass waterways

The sad incident happened at Odioama in Brass local government area of Bayelsa State when the Pastor, wife and members of his church were in a programme.

?Tide confirmed that the lifeless body of the Pastor’s wife has been found and deposited in a mortuary while the remains of her husband ,the Pastor is yet to be recovered

as search party are still ongoing.

Although the real cause of the boat Mishap is not yet known as at the time of this report, our Correspondent gathered that the identities of the Pastor, wife and church members were not disclosed to the public.

The mishap, Tide gathered occurred on Friday morning when the church members were on a boat transit

The Bayelsa State government and the state police command are yet to issue official statement’s on the sad accident

By: CHINEDU WOSU

Business

Rivers Workers Seek Scrapping Of Contributory Pension Scheme

Published

5 days ago

May 18, 2026

The Tide

The Rivers State Council of Nigeria Civil Service Union has called on the State Government to urgently scrap the contributory pension scheme, describing it as unfavourable to long-serving civil servants in the state.

Chairman of the union, Chukwuka Osuma, said this in an interview with newsmen in Port Harcourt, recently.

Osuma said the current pension structure has continued to worsen post-retirement hardship for workers.

He noted that the contributory pension scheme had failed to provide adequate retirement security for workers who had spent many years in service, especially those approaching retirement age.

According to him, civil servants who had served for more than 20 years were among the worst affected under the scheme, insisting that many retirees could no longer cope with prevailing economic realities.

He also informed that the Union has made moves to showcase their concerns, pleading with Governor Siminalayi Fubara to abolish the pension policy and introduce a more favourable arrangement for affected workers.

“The union was not opposed to pension reforms, the contributory scheme should only apply to newly employed workers or those with fewer years in service”, he said.

Osuma explained that workers who had already spent decades in the civil service ought to remain under a more secure pension structure capable of guaranteeing stability after retirement.

The labour leader further noted that inflation and the rising cost of living had continued to erode the value of retirement savings, thereby increasing the suffering of pensioners across the country.

He also appealed to the state government to consider extending the years of service in the civil service from 35 to 40 years and the retirement age from 60 to 65 years.

Osuma argued that such adjustment had become necessary in view of present-day economic realities and changing conditions in the workplace.

The unionist also reviewed that similar policies had already been adopted in some sectors and jurisdictions, expressing optimism that the State could also implement the reforms for the benefit of workers.

He however, commended Governor Fubara for approving an N85,000 minimum wage for workers in the state, noting that the amount was above the national benchmark of N70,000.

Osuma also acknowledged the government’s efforts in the area of workers’ promotions and bonuses, but insisted that pension reforms and extension of years of service remained critical to the long-term welfare and stability of civil servants in Rivers State.

By: King Onunwor

Business

FG Begins South-West Tour To Promote New Cooperative Bank

Published

1 week ago

May 13, 2026

The Tide

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.