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Convoke Confab On Falling Naira, Inflation, Food Crisis, Reps Tell FG
The House of Representatives, yesterday, urged the Federal Government to “convoke a Special Economic Roundtable” to proffer holistic and workable solutions to falling naira and rising inflation in Nigeria.
The House also urged the Federal Ministry of Agriculture and Natural Resources to come up with urgent emergency plans to expand the economy, especially in the areas of entrepreneurial and agricultural training.
The House further urged the Federal Ministry of Commerce, Trade and Investments to deploy intervention strategies to ameliorate the current economic situation and checkmate the food crisis in the country.
These resolutions were reached following the unanimous adoption of a motion titled ‘Need to Address the Fall of the Naira and the Worsening Rate of Inflation in the Country.’
The motion was sponsored by Messrs ShehuKakale, Julius Ihonvbere, Mukhtar Dan-Dutse, AmiruTukur, Amos Gwamna, Jatau Mohammed, Benjamin Mzondu, Ahmed Zanna and AbianteAwaji-Inombek.
Moving the motion, Kakale decried that the economic situation in the country is “deteriorating at a worrisome rate as insecurity, hyperinflation, massive unemployment and underemployment pervades all sectors of the economy, thus promoting social pressures and general dissatisfaction.”
He said, “The House also notes that with the ever-recurring policy challenges, corruption and the over-reliance on crude oil, if not urgently addressed may lead to a dangerous cauldron of ethnic tension, youth, discontent and criminality, which threatens to spread more poverty and violence in the country.
“The House further notes that insecurity is a major impediment to economic growth, which has cost Nigeria over $10.3billion in 2020, an amount more than the Federal Government’s total revenue for the same year.
“The House is aware that the growing case of insecurity in the land has badly affected agricultural production as farmers can no longer go to the farm, and traders can no longer travel for fear of being kidnapped, abducted or killed.
“The House is further aware that unless urgent and decisive steps are taken to ameliorate the worsening situation, it may degenerate into social decay and crises in homes that may increase the suicidal tendencies and statistics in Nigeria.
“The House is alarmed that the bourgeoning rise in inflation rate in the country has led to astronomical rise in food prices, taking them virtually out of the reach of the middle and lower classes.”
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RSG Woos Investors As PHCCIMA Unveils Port Harcourt Int’l Trade Fair
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MAN Tasks Rivers, Bayelsa On Blue Economy
The 2025 annual general meeting (AGM) and conference of the Rivers/Bayelsa states chapter of the Manufacturers Association of Nigeria (MAN) has come to a close with a strong call for both states to drive the blue economy.
The communique just issued after the AGM pointed to what it called emerging prospects in fish processing, seaweed cultivation, ship repair, and marine technology.
The communique which also mentioned human capital gaps that must be filled through technical and vocational training that are aligned with modern industrial needs, said the blue economy represents a viable pathway for Nigeria’s industrialisation.
It said MAN and Arican Marine Environment Sustainability Initiative (AFMESI) have the capacity to unlock Nigeria’s blue economy sustainably and inclusively, but said the region required dedicated infrastructure upgrades, including roads, waterways, and power.
The communique was signed by Vincent Okuku (Chairman of Rivers/Bayelsa States Branch); Michael Nosa Agana (Branch Vice Chairman/Chairman AGM planning Committee); and Chibuzor Eze (Executive Secretary, Rivers/Bayelsa States Branch).
The resolutions said the future of the Niger Delta economy lies in diversification rather than dependence on extractive industries. “Technology and innovation, value addition and local processing, strategic infrastructure, and a skilled workforce are essential pillars for the future of manufacturing in the region.
“Governments in the region must intensify support for manufacturing activities. Various forms of collaboration across sectors should be actively encouraged.”
It specifically advised Bayelsa and Rivers States to fully develop and harness the blue economy as strategic gateways for sustainable growth; and called for cross-border partnerships with neighbouring states to enhance trade, security, and environmental management.”
The Rivers/Bayelsa States branch of MAN held its first (41st) AGM outside Port Harcourt for the first time, hosted by Bayelsa State Government at the Chief D.S.P. Alamieyeseigha Memorial Banquet Hall, with the theme: ‘Trade, Technology, and the Future of Manufacturing in the Niger Delta.’
In his welcome address, the chairman of the branch, Okuku, commended the Bayelsa State Government under the leadership of Gov Douye Diri for its efforts in industrial development, investment promotion, and strong partnership with the private sector.
He also acknowledged the Rivers State Government for its commitment to rehabilitating industrial clusters, improving access roads, and delivering key infrastructure.
He, however, expressed concern over persistent challenges such as high energy costs, unreliable electricity supply, weak transport systems, rising logistics expenses, multiple taxes and levies, inconsistent regulatory frameworks, and pressure from host communities, which continue to hinder manufacturing growth in both states.
The President of MAN, Francis Meshioye, noted that the Niger Delta, with its abundant resources and strategic location, holds vast potential for industrial expansion. He called for policy frameworks that promote local manufacturing, enhance trade, and attract investments to the region.
Goodwill messages were delivered by the Minister of the Federal Ministry of Regional Development, Abubakar Momoh, represented by Wasa Festus, Director of Community Development and Education. Another goodwill message was also presented by the Bayelsa State Commissioner for Trade, Industry and Investment, Ebieri Jones.
In his remarks, Gov Diri praised MAN for its contributions to Nigeria’s manufacturing sector, noting its resilience, innovation, and strategic role in national development. He stated that the conference theme aligns with his administration’s mantra of “Assured Prosperity.”
Gov Diri offered 24-hour service to manufacturers wishing to relocate to the state, and highlighted the State’s ongoing transformation through deliberate investment in infrastructure, security, and human capital aimed at positioning Bayelsa State as a hub for industrial growth, particularly in the blue economy, agriculture, and manufacturing.
He further noted that hosting the 41st AGM fulfilled a long-desired aspiration of the State following the successful 2024 MAN event in Port Harcourt, Rivers State. He officially declared the exhibition open.
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NELFUND Warns Students Against Fake Loan Portal
The Nigerian Education Loan Fund has alerted the public to a fraudulent message circulating online, claiming that the NELFUND Student Loan Registration Portal is open.
The message directs applicants to a third-party link (http://gvly.xyz/Nelfund-Student-Loan, which NELFUND confirms is unauthorised and fraudulent.
In a post obtained from its X handle, yesterday, NELFUND urged students and the general public not to click on the link or provide any personal information, emphasising that the official loan registration portal is only accessible through the Fund’s verified channels.
The agency reminded applicants to exercise caution online and to report any suspicious links or communications claiming to be from NELFUND.
“Applicants are encouraged to always verify official announcements via NELFUND’s official website and social media channels,” NELFUND said.
This advisory comes as part of NELFUND’s ongoing efforts to safeguard students and ensure the integrity of the student loan application process.
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