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NEW Rivers: Building The Future Through Quality Education 

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Improving the quality of education in Rivers State has always been a major focus of Governor Nyesom Wike’s administration.  When he took over leadership in 2015, the education sector was in comatose.  The immediate past administration had adopted a cosmetic approach that destroyed the foundation of education in the state.
All through his first term,  Wike diligently revived the education sector.  From the basic, to the senior secondary up to the tertiary education level, he upgraded facilities. The impact has been felt up  to the rural communities.
All the 23 Local Government Areas of Rivers State felt the impact of the educational programmes and policies of Governor Wike during his first term. He promised to do more for Rivers people.
His second term has been a continuation of the wonderful revival of the education sector.  The basic education sector is witnessing the massive upgrade and reconstruction of schools.
In the last one year, about 100 basic education schools have been upgraded and reconstructed by the Wike administration.
The objective of the administration  is to ensure that Rivers children have access to quality learning  facilities.
Through the Rivers State Universal Basic Education Board and the Rivers State Ministry of Education,  the Wike administration has empowered teachers with modern teaching skills.
The training and retraining of teachers has been upscaled by the administration.  Governor Wike believes that when teachers are empowered with higher knowledge and skills, they will deliver more to Rivers children.
Within the first one year of his second term, Governor Wike has reconstructed and equipped three major schools in the state. They are: Government Secondary School,  Ubima, (formerly Community Secondary School,  Ubima), Seabed Model School , Port Harcourt and Government Craft Development Centre,  Port Harcourt.
Major secondary schools spread across the three senatorial districts of the state are witnessing upgrade and general restoration.  This is a continuation of the phased reconstruction of iconic schools started by the Wike administration during his first term.
Governor Wike is also embarking on the  reconstruction and remodeling of the following secondary schools: Enitonia High School, Port Harcourt in Port Harcourt City Local Government Area; Government Secondary School, Ogu in Ogu/Bolo Local Government Area,  Community Secondary School, Rumuolumeni in Obio/Akpor Local Government Area ,Community Secondary School, Rumuepirikom in Obio/Akpor Local Government Area, Bonny National Grammar School, Bonny in Bonny Local Government Area and Government Secondary School, Okarki in Ahoada West Local Government Area.
Others are: Western Ahoada Central High School, Ahoada in Ahoada East Local Government Area, Government Secondary School, Abua in Abua/Odual Local Government Area,  Government Secondary School, Okporowo -Ogbakiri, Emohua Local Government Area, Government Secondary School, Obuama in Degema Local Government Area, Community Secondary School, Omuanwa in Ikwerre Local Government Area,  Model Secondary School Bakana in Degema Local Government Area  and Model Secondary School, Tombia in Degema Local Government Area .
The Rivers State Government under the leadership of Governor Wike, has improved the funding of tertiary institutions in the state,  developing the right facilities that have led to the accreditation  of courses.
The Rivers State University,  the Ignatius Ajuru University of Education,  Kenule Beeson Saro-Wiwa Polytechnic,  Bori and the Elechi Amadi Polytechnic,  Port Harcourt have been well-funded by the administration.  They have become national reference points.
To ensure access to education for the less privileged,  Governor Wike abolished  all forms of fees and levies in public primary,  junior and senior secondary schools in  Rivers State.
This was a major second-term action.  He has since  released  funds for the running of the schools for the 2019/2020 academic session.
The funds released by the Rivers State Governor would be used by the schools for registers, chalks, dusters, markers,  notebooks,  pens and other consumables.
Governor Wike approved that the  state government will henceforth bankroll the form fees for the Unified Tertiary Matriculation Examination (UTME) of the Joint Admissions and Matriculation Board(JAMB) for all indigenes and non-indigenes in the state.
This approval by Governor  Wike has been implemented for the 2020 UTME  conducted by JAMB.
All across the state, parents and  guardians have continued  to sing the praises of Governor Nyesom Ezenwo Wike for supporting education in very practical ways. With the abolition of fees and the payment of UTME fees, the less privileged for the first time are feeling the direct positive impact of government.
Delivering the 2020 budget to the Rivers State House of Assembly,  Governor Wike made a solemn commitment to use education as a tool for empowerment and education.
He said: “Building on the progress of the last four and half years, we will continue to ensure adequate funding for education in Rivers State. It is for this reason that we are proposing the sum of N49.471 billion to fund the education sector for 2020. This sum represents 20% of the total budget and is the highest ever budgetary allocation to education, reflecting the level of our commitment to investing in the future of our children.
“ In 2020, we will continue to ensure the systematic rehabilitation, upgrade and transformation of our primary, secondary and tertiary institutions and build new ones where the population demands to deliver a more conducive learning environment across schools in Rivers State.”
Governor Wike has kept this promise.  The results are everywhere across the state. The results from WAEC and NECO examinations justify the quality investments in the education sector by Governor Wike.

Nwakaudu is Special Assistant to Rivers State Governor on Electronic Media.

 

Simeon Nwakaudu

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FG Approves ?758bn Bonds To Clear Pension Backlogs, Says PenCom 

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The Federal Government has approved ?758b in bonds to offset long-standing pension liabilities, including pension increases owed since 2007.
The Director-General, National Pension Commission, Omolola Oloworaran, disclosed this at a two-day Sensitisation Workshop on the workings of the Contributory Pension Scheme for Employees and Pensioners in the North-East, in partnership with the National Salaries, Incomes, and Wages Commission (NSIWC), and held in Yola, last Thursday.
Represented by the Commissioner for Administration in PenCom, Alhaji Bello Abubakar, Oloworaran described the approval as a bold step by President Bola Tinubu to bring relief to vulnerable pensioners and restore confidence in the pension system.
She said the workshop formed part of ongoing reforms to enhance awareness and deepen understanding of the CPS among retirees and other stakeholders.
According to her, other key interventions under the reforms included pension increases for over 241,000 retirees, representing 80 per cent of those under the programmed withdrawal arrangement.
“The increases raised monthly payments from ?12.15 billion to ?14.83 billion, effective from June 2025.
“The commission has also eliminated waiting time for pension payments, ensuring that, since July 2025, retirees now access their benefits immediately after retirement.
“The proposed reintroduction of gratuity for civil servants, with a framework developed to restore gratuity benefits for federal workers under CPS, in line with Section 4(4) of the Pension Reform Act (PRA) 2014,” she said.
The PenCom DG explained that the initiative was aimed at further enhancing post-retirement benefits and improving the welfare of pensioners.
Oloworaran stressed that the sensitisation workshop would help address misconceptions and build public confidence in the CPS while offering an opportunity for engagement, feedback, and trust-building with stakeholders.
Also speaking, the Chairman, National Salaries, Incomes and Wages Commission, Ekpo Nta, represented by the Deputy Director of Compensation, Chika Ochor, said the workshop would promote better understanding of the CPS and its benefits.
Nta insisted that pension provides financial security in old age, enabling retirees to maintain their standard of living, reduce poverty, and avoid dependence on families and government adding that the current administration had introduced far-reaching reforms in pension administration to ensure prompt and sustainable payment of retirees’ benefits.
In his remarks, the Director-General, National Orientation Agency (NOA), Lanre Issa-Onilu, commended PenCom and NSIWC for their collaboration in bridging knowledge gaps on the CPS and online enrolment processes.
He reaffirmed NOA’s commitment to promoting national values, policy awareness, security consciousness, and disaster preparedness.
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Banks Must Back Innovation, Not Just Big Corporates — Edun

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Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has called on Nigerian banks to channel more credit to young innovators and small businesses, saying the era of concentrating lending on big corporates must give way to inclusive, innovation-driven financing.

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.

Edun emphasised that while the reforms under President Bola Tinubu have begun to yield tangible progress since May 2023, inclusive growth remains critical to sustaining the recovery.

“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.

He commended the Central Bank of Nigeria (CBN) for maintaining monetary discipline under its current leadership, describing the tight policy stance as a necessary step to curb inflation, stabilise the financial system, and restore investor confidence.

Also speaking, Chairman of the Committee of Bank CEOs and Group Managing Director/Chief Executive Officer of United Bank for Africa (UBA) Plc, Oliver Alawuba, commended the CBN and the Federal Ministry of Finance for their coordinated policies that have eased pressure on the foreign exchange market and restored investor confidence.

“We thank the Minister of Finance and the CBN Governor. We have seen the difference. A year ago, customers were asking for dollars; today, we are asking them if they need any. Thanks to the efforts of the coordinated economic team,” Alawuba said.
He urged newly inducted Fellows and Senior Members of the Institute to champion digital transformation, strengthen trust, and promote collaboration within the banking industry.

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FG Seeks Fresh $1b World Bank loan To Boost Jobs, Investment 

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The Federal Government has begun discussions with the World Bank for a new $1 billion loan under a programme designed to accelerate private investment, job creation, and economic diversification.

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 loan would back reforms intended to expand access to credit and digital financial services, lower prices for households and firms, and boost productivity in key agricultural value chains.

“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.

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