Nation
Chamber Predicts Rise In Inflationary Rate In 2021
The Lagos Chamber of Commerce and Industry (LCCI) says inflation rate will rise in 2021.
The chamber made the assertion in its Economic Review for 2020 and Outlook for 2021 made available to newsmen, yesterday in Lagos.
Its Director-General, Dr Muda Yusuf, attributed the projected inflation outlook for the incoming year to the combination of food supply shocks, heightened insecurity in major food-producing states, foreign exchange policies, illiquidity and higher energy costs.
“We, however, believe a broad-based harmonisation of fiscal and monetary policies towards addressing the identified structural constraints will significantly help to moderate inflationary pressure in the medium term,’’ he stated.
On sectorial review and outlook, the LCCI’s D-G said performance was largely weak across sectors in the third quarter of 2020 because of lingering effects of Covid-19 disruptions.
Yusuf stated that the trend would likely persist into the last quarter of 2020 and the first quarter of 2021 as the economy gradually recovers from the recession.
He noted that a resurgence of Covid-19 pandemic would cause another disruption in activities in the oil and non-oil sectors.
“We expect Information, Communication Technology, financial institutions, and agriculture to drive growth in the non-oil sector in the short-term while the country’s commitment to Organisation of Petroleum Exporting Countries (OPEC) agreement is expected to dampen recovery prospects of the oil sector,’’ he stated.
On Agriculture, the LCCI’s D-G said he foresaw the CBN sustaining its intervention in the sector in year 2021 in a bid to boost domestic food production and minimise food supply gap.
“While the ban on importation of rice, poultry and other agricultural commodities still subsists amid border reopening, there is risk of resurgence of smuggling of agricultural products into the country considering the porous nature of Nigeria’s land borders.
“This, combined with the commencement of Africa Continental Free Trade Area (AfCFTA), could see Nigeria being a destination for imported food products in the absence of adequate border monitoring measures.
“Additionally, heightened security concerns around the country, especially in the northern part and resurgence in herder-farmer conflict in the Middle Belt, the southwest and southeast, if unaddressed, will hamper local food production in the near term.
“Nonetheless, we expect a modest growth performance in year 2021,’’ he said.
As outlook for the manufacturing sector, Yusuf said the reopening of the land borders should provide succour to the sector even as the kick-off of AfCFTA serves as an avenue for manufacturers to penetrate new African markets.
He noted that critical challenges currently beguiling the sector alongside the new competitiveness pressure foisted by the AfCFTA might dampen the recovery prospects of the sector in year 2021.
“We expect the CBN to sustain its intervention efforts in the manufacturing sector as part of measures to boost economic recovery.
“We see the CBN maintaining policies that support credit extension to the real economy.
“The low interest environment in the money market favours big manufacturing players in terms of raising cheap capital, but the business environment will remain challenging for manufacturing SMEs.
“In our view, credit flows to the manufacturing sector will fail to achieve desired outcomes without putting in place measures to address structural, bottlenecks in the ports and customs processes and other policy challenges to productivity.
“Thus, we see growth of the manufacturing sector being subdued in the near to medium term,’’ he said.
Yusuf said the banking industry was expected to sustain positive growth trajectory in Q4-2020 amid the numerous regulatory limitations.
“We expect CBN to maintain its regulatory surveillance in the industry in ensuring the industry is financially sound amid evolving Covid-19 disruptions.
“Resurgence of Covid-19 pandemic, oil price volatility sluggish economic recovery and lingering external pressure are major downside risks to the growth prospects of the banking sector in year 2021.
“Loan-to-Deposit-Ratio policies drove the impressive performance in Q1-2020 by 24 per cent and Q2-2020 by 28.41 per cent.
“Momentum eased in Q3-2020 (6.8 per cent) as banks became more reluctant in providing credit to business given weak macroeconomic conditions.
“Nevertheless, banking industry remained financially sound with Capital Adequacy, Non-Performing Loan Ratio and Liquidity Ratio at 15.5 per cent, 5.73 per cent and 35.6 per cent as of end-October 2020, respectively,’’ he said.
The LCCI’s D-G said the oil sector would further contract in Q4-2020 in the light of lower production in compliance to OPEC+ agreement.
“We note OPEC+ has agreed to ease supply cut by 0.5 million barrels per day starting from Jan. 1, 2021 due to sluggish recovery in fuel demand, much lower than 2.0 million barrels per day earlier planned.
“Crude oil production will likely be lower in year 2021 as OPEC+ sustains efforts to prevent oil glut.
“We project that OPEC+ will be cautious in relaxing output reduction given the uncertainties around Covid-19 pandemic and global oil demand.
“Thus, we expect oil and gas sector growth to be subdued in year 2021 on the continued implementation of OPEC+ Declaration of Cooperation and weak oil price outlook.
“Also, increasing preference for renewable energy globally will put downward pressure on crude oil demand and prices. We are not optimistic of a significant growth performance in oil industry in year 2021,’’ he said.
He said that considering the dim outlook for revenue in the face of weak economic fundamentals, government would most likely underperform its revenue projections with attendant impact on fiscal deficit and debt portfolio.
“Budget deficit for year 2021 is expected to remain elevated above the projected N5. trillion and this poses a risk to Nigeria’s fiscal sustainability.
“We believe the Federal Government will be inclined towards securing concessionary borrowings with low interest rate and long maturity profile in the global market, rather than raising Eurobonds, especially now that the country is faced with foreign exchange scarcity,’’ he said.
Nation
Diri Approves N200m Monthly Grant for Bayelsa Farmers, Targets Increased Local Rice Production
Bayelsa State Governor, Senator Douye Diri, has approved a monthly support scheme of ?200 million for farmers in the state as part of efforts to boost food security and expand agricultural production.
The governor announced the approval on Tuesday at the flag-off ceremony of the 2026 dry season farming programme held at the state-owned rice farm in Otuasega community, Ogbia Local Government Area.
Expressing dissatisfaction with the volume of rice harvested during the last farming season, Governor Diri directed the Commissioner for Agriculture and Natural Resources to ensure a significant increase in the production of homegrown rice in Bayelsa State by the end of 2026.
He stressed that despite the government’s provision of necessary support to the ministry and farmers, it was unacceptable that the state still had to procure rice from outside during the last Yuletide period.
The governor charged the Ministry of Agriculture to take food security seriously, noting that Bayelsa has a comparative advantage in several crop areas, with fertile soil that does not require fertiliser to produce organic crops.
While commending the Commissioner for Agriculture and other stakeholders for organising the event, Governor Diri urged the ministry to ensure that such initiatives go beyond yearly ceremonies and translate into tangible benefits for the people.
According to him, agriculture remains a key pillar of the state’s economic diversification drive, which his administration has prioritised through heavy investments. He also called on civil servants and residents to embrace agriculture as a way of life.
“Let it not be that we come here for a yearly ritual. This is something that affects us as a people and so we must all take it seriously. Food security will continue to be a top priority of my administration,” he said.
He added that agriculture strengthens the economy and highlighted the importance of transportation infrastructure in moving farm produce from rural communities to the state capital.
“We are investing in agriculture and connecting communities. The roads and bridges support agriculture. We have developed partnerships and collaborations and will continue to partner with other agencies to ensure Bayelsa attains the expected food security,” the governor stated.
Governor Diri further directed that by the end of 2026, the state should record a minimum production of 300,000 kilogrammes of rice, stressing that government would patronise local farmers rather than sourcing rice from outside the state.
On security concerns, he reiterated that the state’s anti-grazing law remains in force, warning herdsmen against destroying farmlands and urging farmers to report such incidents to security agencies instead of resorting to social media.
He also cautioned traditional rulers against allocating land in forest areas to herdsmen, warning that anyone found culpable would be sanctioned.
“For our farmers, we will always support you. Honourable Commissioner, identify the genuine farmers in the state. What we did for MSMEs will also be done for farmers. Henceforth, ?200 million will be set aside monthly to support farmers in Bayelsa State,” he added.
In his remarks, the Commissioner for Agriculture and Natural Resources, Prof. Beke Sese, described the event as a reaffirmation of the state government’s unwavering commitment to food security.
He commended Governor Diri for his substantial investment in the agricultural sector, noting that it has been the driving force behind the progress recorded so far.
Representatives of the All Farmers Association of Nigeria (AFAN), Bayelsa State chapter, Nigerian Women in Agriculture Business, the Nigeria Agricultural Insurance Corporation and the Central Bank of Nigeria, among others, also lauded the governor’s sustained support for farmers, which they said has significantly improved the agricultural sector in the state.
City Crime
Fanfare, Pageantry As Ohiauga Community Honours 31 Eminent Personalities with Maiden Leadership Awards
Ohiauga Community in Igburu Clan, Ogba/Egbema/Ndoni Local Government Area of Rivers State, on Saturday, December 27, 2025, witnessed an unprecedented spectacle of celebrations, fanfare and cultural splendour as it honoured 31 distinguished personalities for their outstanding leadership qualities, selfless service and immense contributions to the growth and development of the community.
The historic event, which took place at the Ohiauga Community Town Hall, marked the maiden edition of the Ohiauga Leadership Awards and saw 27 illustrious sons and daughters of the community, alongside four non-indigenes, decorated with various honours in recognition of their unwavering commitment to the socio-economic, political and infrastructural advancement of the area.
From the early hours of the day, the once serene and seemingly sleepy community was transformed into a beehive of activities. The atmosphere was electrified with excitement as the sound of music echoed from different corners of the community. Everywhere was colourful, lively and festive, as men, women, youths and children, young and old, trooped out in large numbers, beautifully adorned in elegant traditional and modern attires.
The favourable weather further added glamour and grace to the occasion, enhancing the beauty and splendour of the event, as the people, stakeholders and visitors savoured every moment of the celebration.
Adding royal splendour to the colourful ceremony was the presence of the Eze of Igburu Clan, Eze Igburu IV of Igburu Land, His Majesty Eze Kenneth Nwabochi, who arrived at the venue in full royal regalia, accompanied by his retinue of chiefs, elders and other palace officials. His presence was a clear testament to the significance of the occasion and underscored the unity and collective resolve of the people to celebrate excellence and service.
One after the other, the award recipients stepped forward amid thunderous applause, cheers and admiration from the audience. These were men and women whose years of dedication, sacrifice and contributions have helped place Ohiauga Community on the map in terms of political relevance, socio-economic growth and self-help-driven development.
Indeed, Ohiauga Community today boasts of notable achievements credited largely to community-based initiatives, including a relatively good road network, stable and uninterrupted electricity supply powered through solar infrastructure, and other basic amenities that have improved the quality of life of its people. The honoured individuals, it was observed, have played significant roles in achieving these milestones, leaving their unmistakable footprints on the community’s development journey.
By honouring them, the community made it clear that the awards were not meant to signal retirement from service, but rather to encourage the recipients to intensify their efforts and continue to give back to their fatherland. Community leaders noted that although progress has been recorded, Ohiauga still faces serious developmental challenges that require sustained commitment and collective action.
Prominent among these challenges is the absence of a functional healthcare facility. The only cottage hospital project in the community, allegedly initiated by Total Energies Limited several years ago, was said to have been abandoned, leaving residents without adequate medical care. The community strongly appealed to the Rivers State Government to intervene and revive the project in the interest of the people.
The education sector was also not spared. The Ohiauga Community Primary School, according to the community, is allegedly in good shape, with a conducive learning environment, but lacks enough classroom teachers, as there is only one government-employed classroom teacher. To fill the void, the community reportedly employed five additional teachers from its meagre resources and currently bears the responsibility of paying their salaries.
These realities, stakeholders explained, provided further justification for the decision to celebrate and honour individuals who have consistently demonstrated commitment to the welfare and development of the community.
Speaking at the ceremony, Chairman of the Organising Committee of the Ohiauga Maiden Leadership Awards, Pastor (Dr) David Chizor Nwaoburu, described the event as a strategic initiative aimed at fostering peace, unity and development, while recognising and rewarding excellence and service.
According to him, the award ceremony was designed to honour eminent personalities who have distinguished themselves in public and private life, and who have continued to make meaningful contributions to the growth of Ohiauga Community.
Dr Nwaoburu, who was himself among the award recipients, said the recognition was intended to motivate the honourees to do more for the community and not to rest on their achievements. He urged them to continue to serve the interests of the people wherever they find themselves and to remain ambassadors of peace and development.
He further reiterated the need for government intervention in the abandoned cottage hospital project and the posting of teachers to the primary school by the state government, stressing that community development in Ohiauga has largely been driven by self-help efforts.
Among those honoured at the event were Pastor (Dr) David Chizor Nwaoburu; former Bursar of Ignatius Ajuru University of Education, Dr Davis Ojima; the Registrar of the institution, Dr Chinonye A. Ajie; Dr Obi Chukwuma Ebenezer Jular; Elder Kemmer Mark Godwin; Dr Nwokoji Chukwuemeka; Mr Nduka Louis Odiegba; Dr (Chief) (Mrs) Ojima; Comrade Chimezie Igwela; Engr Gideon Eke; Chief (Prof) H. A. Ajie; Hon. Sule Igwela; and Dr Obi Nwaoburu.
Others included Prof. (Mrs) Jennifer Igwela; Dr Charity Ajie; Eric David Orukwo; the Paramount Ruler of Ohiauga Community, HRH Dr Amb. Bright Abali; Mr Chukwudi Lloyd Reuben; Comrade Wisdom Adieme; and the member representing ONELGA Constituency I in the Rivers State House of Assembly, Hon. Uchenna Nwabochi.
Also recognised were Comrade Kelvin London Oji; Pastor Smart Brass Maduagu; Chief (Hon.) K. O. Igwela; Harmony Igwela; Comrade Onyemaobi Igwela; and Late Elder Nwaba Maduagu, who received a posthumous award in recognition of his lifetime contributions to the community.
The four non-indigenes honoured for their dedicated services and goodwill towards the community were Hon. Marculey Ogolo; Hon. ThankGod Chibor; Comrade Kingsley Ogu; and Pastor G. Oreke, who was specially recognised as the only dedicated government classroom teacher at Ohiauga Community Primary School.
Reacting to the honour, the Registrar of Ignatius Ajuru University of Education, Dr Chinonye A. Ajie, described the award as a step in the right direction and a thoughtful gesture that encourages service and excellence. He called for harmonious relationships among all segments of the community and pledged his continued support towards education, job creation and collective development.
Former Bursar of the university, Dr Davis Ojima, also expressed gratitude to the community for recognising his contributions, assuring that he would remain committed to promoting peace, unity and sustainable development initiatives in Ohiauga.
Business mogul, Mr Nduka Louis Odiegba, said being honoured by one’s own community carries special significance, describing the recognition as the most cherished among the many awards he has received. He pledged to intensify his contributions to the welfare and development of the people, noting that “charity must begin at home.”
In his royal remarks, the Eze of Igburu Clan, His Majesty Eze Kenneth Nwabochi, emphasised the importance of peace, unity and the preservation of cultural values, describing the maiden Ohiauga Leadership Awards as a timely initiative aimed at strengthening communal bonds and fostering collective progress.
Giving the vote of thanks on behalf of the awardees, Mr Chukwudi Lloyd Reuben, thanked the community for finding them worthy of recognition, and commended the leadership and merit award committee for the excellent packaging of the programme. He urged the awardees to continue with their good work to the community, as the merit awards were a clarion call for more community development involvement and a wake up call for others to emulate the leadership qualities exhibited by the awardees.
Overall, the maiden Ohiauga Leadership Awards ceremony lived up to its billing, serving not only as a platform to celebrate excellence and service but also as a rallying point for renewed commitment to the development of the community, amid resounding jubilation, merriment and cultural pride.
By: Donatus Ebi
Nation
Bayelsa Agriculture Commissioner Vows to Protect State Assets Amid Protest Over School-to-Land Fencing
The Bayelsa State Commissioner for Agriculture and Natural Resources, Prof. Beke Sese, has reiterated the commitment of his ministry to protect all agricultural assets belonging to the state government, despite protests by some property owners over ongoing perimeter fencing works at the School-to-Land Authority.
The Commissioner made this known on Wednesday during a fact-finding visit to the ministry following a recent protest by residents and developers within the School-to-Land Authority axis of Biogbolo II, Yenagoa, the state capital.
Trouble reportedly began when the ministry commenced perimeter fencing of about 16 hectares of land said to belong to the School-to-Land Authority, amid allegations that private individuals had encroached on government-owned land.
Prof. Sese explained that the decision to fence the land was informed by repeated cases of criminal invasion and vandalism of government facilities in the area, leading to the loss of public assets.
He clarified that the Ministry of Agriculture and Natural Resources has no mandate to demolish buildings or illegal structures, stressing that the directive given to contractors was strictly to fence government-owned land and nothing more.
“It is not the mandate of the Ministry of Agriculture and Natural Resources to demolish any building or illegal structure within the School-to-Land Authority. Our responsibility is to train farmers and support agricultural activities of the Bayelsa State Government,” he said.
According to the Commissioner, the School-to-Land Authority covers about 19 hectares of land, a significant portion of which, based on available documentation, has been encroached upon by developers.
“We need adequate land to train our farmers. We plan to establish poultry facilities, expand rice farming and boost food production for Bayelsa State, to the extent that other states can come here to buy our produce,” he added.
While acknowledging the right of citizens to protest, Prof. Sese warned that protesters must not harass or harm contractors and workers carrying out the fencing project.
“People have the right to protest, but on no account should any protester touch or harm the contractors and workers simply because they feel their houses may be affected by the fencing,” he cautioned.
He disclosed that representatives of some protesting property owners had earlier engaged with the ministry, where officials presented documents showing that the affected individuals had encroached on government land.
He further noted that the fencing project was duly approved by the state governor following the submission of a memo by the ministry.
“As it stands, the only person who can stop this project is the Governor himself,” the Commissioner said.
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