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NCDMB, NEXIM Bank Sign $50m WCCB, WOGI Funds’ Pact

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The Nigerian Content Development and Monitoring Board (NCDMB) and the Nigerian Export-Import (NEXIM) Bank have signed a strategic memorandum of agreement (MoA) to provide much-needed financial support to key players in the Nigerian oil and gas industry.
Speaking during the signing ceremony at the NCDMB office in Abuja, the Executive Secretary of the board, Engr. Simbi Wabote said that the $30million Working Capital & Capacity Building Fund boosted by matching funds by NEXIM Bank and the $20million Women in Oil and Gas Intervention Fund were developed by the NCDMB to further grow Nigerian content and increase local capacity of Nigerian oil service providers whose operations were devastated by the effects of the global Covid-19 pandemic.
While thanking President Muhammadu Buhari, the Minister of State for Petroleum Resources, Chief Timipre Sylva, and the NEXIM Bank for making the milestone event a reality, Wabote assured that the board would carry out periodic audits to ensure that the funds were judiciously utilised.
He also assured that defaulters would be held liable as the loans do not constitute free money.
In his remarks, the Managing Director of the NEXIM Bank, Mr. Abba Bello, said that the involvement of the bank was to help stimulate and build capacities in the Nigerian oil and gas industry, which provides over 50 per cent of Nigeria’s GDP.
He further said that the effort was aimed at making Nigeria competitive among other oil economies and African countries.
In his remarks at the event, the Chairman, Petroleum Technology Association of Nigeria (PETAN), Mr. Nicolas Odinuwe, who witnessed the signing along with his counterparts from the Oil and Gas Trainers Association (OGTAN), Mazi Sam Onyechi; and the representative of the Nigerian oil service providers – Oil Producers Trade Section (OPTS), Mr. Joseph Ofili, said the intervention was coming at a time it was most needed.
The three groups make up the targets for the intervention schemes, which offer loans for capacity building, invoice discounting, acquisition of low-end equipment and assets for execution of oil and gas contract services.
Odinuwe thanked all parties for their efforts, adding that as a critical stakeholder in the oil and gas industry, PETAN, which is the largest and foremost advocacy group for indigenous oil and gas service companies in Nigeria, was happy that the stated loans would give traction to the sustainability of local content in the industry, and country at large.

By: Nelson Chukwudi

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Okonjo-Iweala Celebrates Forbes’ World’s Most Powerful Women Recognition

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World Trade Organisation Director-General, Dr. Ngozi Okonjo-Iweala, has celebrated her inclusion on Forbes’ 100 World’s Most Powerful Women list for 2025, marking her eighth appearance on the prestigious ranking.

In a post via her verified X (formerly Twitter) handle yesterday, Okonjo-Iweala expressed her gratitude and reflected on the responsibility that comes with influence.

“Nice to make (for the eighth time) the @Forbes List of the 100 most powerful women of the world 2025 and to be on the cover of the magazine. With power comes responsibility! We are doing our best to fight for and reform the rules-based multilateral trading system, which the world needs to avoid a chaotic approach to world trade that would hurt the smallest and the least powerful countries,” she wrote.

She also congratulated her fellow African women on the list, including Namibia’s President Netumbo Nandi-Ndaitwah, the Democratic Republic of Congo’s Prime Minister, Suminwa Judith, CEO of Bidvest, Mpumi Madisa, CEO of EbonyLife Group, Mo Abudu, and Barbados’ Prime Minister, Mia Mottley.

The annual Forbes list recognises women who hold significant influence in business, politics, culture, and global leadership.

Okonjo-Iweala, ranked 92nd, is the first woman and first African to serve as WTO Director-General, a position she assumed in March 2021.

Forbes described her as “an economist and international development professional” with over 30 years of experience across Asia, Africa, Europe, Latin America, and North America.

She previously served two terms as Nigeria’s Finance Minister and briefly acted as Foreign Minister in 2006.

The WTO boss also chaired the Board of Gavi, the Vaccine Alliance, which has immunised more than 760 million children globally.

Okonjo-Iweala holds a bachelor’s degree from Harvard University and a doctorate from the Massachusetts Institute of Technology and is recognised for her belief in the power of trade to lift developing countries out of poverty and promote sustainable development.

 

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Association Seeks Government Intervention in Desilting of Canal 

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The Rumuokania 2 New layout Landlords Association in the Obio/Akpor local government area of Rivers State is seeking the intervention of the Rivers State Government in the desilting of the canal which transverses several  communities including Mgbaraja,Ogbogoro,Egbule,Elioparanwo,Ozuoba and other communities in the area.
The Association which said this at a media briefing in Port Harcourt also lauded Governor Siminalayi Fubara for the construction of the Rumuoke/pipeline internal roads.
The landlords said the canal impede the free flow of water from the affected communities thereby causing severe flooding whenever it rains in the area.
The Association also commended the governor for the ongoing construction and rehabilitation of road across the state, adding, the gesture has not only rekindled hope of Rivers people for a better tomorrow,but has bought prosperity across communities in the state.
According to a Press release made available to news men during the briefing,”We are gathered here today to express immense appreciation to His Excellency, the Governor of Rivers State,Sir Fubara, GSSRS,for the construction of the Rumuoke/pipeline Internal roads.
“We also wish to use this medium to request the desilting of the Canal transversing the area and the construction of adjoining roads to the area.
“We acknowledge with profound gratitude the transformative governance going on in Rivers State under the purposely and impactful leadership of Governor Fubara.
“The visible impact of his administration across all sectors, particularly the rehabilitation and construction of new roads,has rekindled hope among the people and brought prosperity to our communities”The Association said.
The landlords particularly praised the Governor for the successful  completion of  the  Rumuoke Road from Okilton junction off Ada George Road to Road 9-2nd & 3rd Avenue, Road 10-2nd Avenue and 3rd Avenue, and Pipeline Road upto the canal, expertly executed by Monier Construction Company (MCC).
They noted that,prior to the intervention of the Governor,the road was in an extremely deplorable state, impassable, and prone to flash floods whenever it rains.
“Most houses and business premises were often flooded as people could hardly leave or access the area,while economic activities were completely paralyzed.
“The newly constructed internal roads have completely eased traffic in the area, boosted economic activities, and improved the quality of life of residents of Rumuokania and Rumuoke communities”
The release which was jointly signed by pastor Joel Gbandi, chairman of The Association and Lucky Ashley Atiegoba secretary,on behalf of the Landlords also expressed gratitude to the Governor for the  construction of all internal roads in the area.
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It however drew the , attention of the Governor to an emerging issue which they said poses  threat to the durability of this critical road infrastructure.
According to the landlords,”at the terminus of the newly constructed pipeline road, the adjoining canal is severely blocked, impeding the free flow of water .
“The canal serves as a vital waterway, traversing several communities, including Rumuokania, Mgbraja, Ogbogoro, Egbelu, Elioparanwo, Mini-Orlu, Rumue-vorlu, Rumuokwachi, Ozuoba, Iwofe, Rumuolumeni, Rumuepirikom, and Mini-kete, among other communities.
“This obstruction has caused water to back up onto the surface of the newly constructed road, leading to accelerated erosion and hazardous conditions for surrounding buildings, motorists, and pedestrians alike within RumuokaniaRumuoke communities.
“It is against this backdrop that we respectfully request the kind intervention of our dear Governor in this regard:
” We humbly request the desilting of the canal to restore proper drainage and prevent water overflowonto the newly constructed internal roads and flooding within the communities.
“. We also request the construction of adjoining roads to the area to provide alternative pathways and improve overall accessibility in the area.
“Addressing these germane concerns will not only safeguard the investment of the state government in road infrastructure in the area but will also mitigate flooding, enhance safety, and further elevate the living standards of residents of Rumuokania and Rumuoke communities”the landlords said.
By: John Bibor
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Rivers Judges Begin Christmas Vacation Dec 23

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Judges of the High Courts of Rivers State will proceed on this year’s Christmas and New Year vacations on Tuesday, 23rd December 2025.

This was contained in a statement signed by the Registrar, State High Court, David Ihua-Maduenyi, on behalf of the Chief Judge of the State, Justice Chibuzor Amadi, and made available to newsmen over the weekend.

The statement stated that judges will commence the yuletide vacation from Tuesday, 23rd of December 2025, and resume on Monday, January 12, 2026.

According to the statement, the directive is in compliance with the provision of Order 49 Rule 4(C) of the High Court of Rivers State Civil Procedure Rule, 2023.

The statement added that during the period of the vacation, all judicial divisions of the High Court of the State shall remain closed, while a vacation judge shall be designated to entertain only urgent applications and matters filed during the vacation.

 By: Akujobi Amadi 

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