Business
258 Youths Benefit From Randolph Brown Empowerment Programme
A total of 258 youths from the Degema/Bonny Federal Constituency have benefited from the first phase of the Randolph Brown Training and Empowerment programme in Rivers State.
A breakdown of the number shows that 84 of the youths were trained in catering, 86 in Fashion and Designing, 38 in Driving, and 21 in Cobbling.
Others are: 4(Bead Making)12 (Entrepreneurship), 8(Cosmetology), while 5 were trained in Makeup.
Making this known at the graduation ceremony of the programme, the member representing the Constituency of the House of Representa-tives, Hon. Randolph Brown, said the initiative was part of his quest to impact on members of his constituency through laudable projects.
According to Hon. Brown, for this purpose, a committee of ten eminent persons from the constituency headed by him set the programme in motion in February 2018, with the sole purpose of empowering the less-privileged in the area in chosen fields of endeavour.
He explained that he opted for manpower development because it was more impactful in terms of execution and lucrativeness.
“I decided to embark on human capital development by empowering youths with the technical know-how to better their future, instead of embarking on projects that may not be completed before my tenure is over “, he said.
Beyond this, he noted that in the face of lack of fund for Federal Capital projects, “there is hunger in the land, and people need to genuinely survive.”
While charging the graduands to “go and conquer the world, because there is money in everything”, Brown warned that any of them who misuses the opportunity given to them may not have another opportunity.
Highlights of the occasion was handing over of starter packs for those in such fields as catering, fashion and designing, cobbling, etc. Graduants in driving were given N50,000 each, while the amount for acquiring drivers’ licences was fully paid for.
There was also cultural and drama displays by graduants, all of which took place at Delta Hotel, Port-Harcourt.
The training for the programme took place at Udis Vocational Institute, Oyigbo.
Beauty David-West
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.
