Business

Wike Pledges N500m To Support Sokoto Rebuild Burnt Market

Published

5 years ago

January 22, 2021

The Rivers State Government has pledged N500million to support the Sokoto State Government rebuild the Sokoto Central Market that was gutted by fire, last Tuesday.
Part of the money would also be used to support victims of the devastating fire that destroyed goods worth billions of Naira.
The Rivers State Governor, Chief Nyesom Wike, made the pledge on behalf of the state government during a visit to the Sokoto State Governor, Hon Aminu Tambuwal, last Wednesday.
Wike, who was conducted round the destroyed market by Tambuwal, said he was saddened by the devastating fire that razed over 60 per cent of the 16,000 shops in the market.
“We have come here to commiserate and sympathise with our brother, our friend and the good people of Sokoto State on what had happened to one of the biggest market in this country, the Sokoto Central Market.
“When I got the information last night, I was touched and I said as brothers, what affects you affects us. What affects Sokoto State affects Rivers State.”
The Rivers State governor, who empathized with the traders over the loss of their goods worth billions of Naira, thanked God that no life was lost in the disastrous inferno.
“There is nothing you can equate with life. That there was no life lost; we give glory to the almighty Allah. Having come here, I’ve seen the level of destruction, it is unfortunate. People have lost their goods; the state government will have to see how this market will be brought back to the way it is supposed to be.
“We sympathise with you. We identify with you and we know the negative effect on the economy of the various families; families who depend for day to day trading and sales of their goods.”
Wike expressed his appreciation to the various security and paramilitary agencies that prevented the fire from destroying the entire market.
He pledged that the government of Rivers State would support Sokoto State to rebuild the market and ameliorate the plight of the traders with N500million.
“On behalf of the government and the people of Rivers State, we will support the Sokoto State government to see how quickly they can rebuild this market” he added.
In his response, the Sokoto State Governor, Hon Aminu Tambuwal thanked Wike and the people of Rivers State for the kind gesture.
Wike also paid a courtesy visit to the Sultan of Sokoto, Muhammad Sa’ad Abubakar in his palace to commiserate with him over the demise of his junior brother, Hon. Abdulkadir Jeli Abubakar, who was Sokoto State commissioner for home affairs.
In his response, Sultan of Sokoto, Muhammad Sa’ad Abubakar, acknowledged the age-long relationship between Sokoto and Rivers State, and lauded Wike for sustaining it.
He explained that Wike’s visit and pledge to support Sokoto State was a demonstration of what Nigeria is and should be.
The Sultan further commended Wike for his remarkable developmental stride in Rivers State.
“I commend you and congratulate you for all what you have been doing for Rivers State in particular, because we have seen a lot of infrastructure being put in place and that is why they call you Mr Project in Rivers.
“You have just some few more years; please, do much more so that nobody will beat you when he takes over from you”.
Similarly, the Sultan lauded Tambuwal for his judicious management of the state resources which earned the state a World Bank grant under the State Fiscal Transparency, Accountability And Sustainability (SFTAS) programme.

Business

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

Published

4 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

4 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.