News
Buhari Scores Self High On Economy
President Muhammadu Buhari says the focus on job creation, consistency in policy and innovation stimulated a 5 per cent growth of the economy in the second quarter, 2021, which is the highest in six years.
The president stated this, yesterday, at the launch of the Nigeria Jubilee Fellows Programme in State House.
He assured that Jubilee Fellows Programme will further consolidate on the success recorded.
The President also listed some of the key drivers of economic growth and diversification in the second quarter to include telecommunications, transportation, electricity, agriculture and manufacturing.
“Tuesday, 22nd June 2021, I set up the National Poverty Reduction with Growth Strategy (NPRGS) steering committee to coordinate our work to fulfil my promise to lift 100 million Nigerians out of poverty in 10 years. This is building on the positive results from the Economic Recovery and Growth Plan and the targeted response to the effects of the Covid-19 pandemic with the Economic Sustainability Plan.
“These efforts have yielded results with Nigeria recording its biggest economic growth in six years with a GDP growth of 5 per cent in the second quarter of 2021. The sectors that drove this growth are trade, telecommunications, transportation, electricity, agriculture and manufacturing. Each of these sectors showed significant improvement and thus created more jobs for our populace.
“An important part of our policies and strategies is the focus on employment and creating opportunities for our people. When this government was elected in 2015, we committed to increasing job opportunities for Nigerians and as part of our social investments programme we recruited 500,000 graduates into our N-power programme,’’ he noted.
In 2019, the President said he directed that the number of graduates be increased to 1 million.
“These graduates are recruited to work in agricultural, health and education institutions across the country. The N-power programme also has a non-graduate component that provides skills to tens of thousands of Nigerians in areas such as technology, masonry, auto repairs, and carpentry.
“We estimate that about 2million people join our labour force annually. We continue to work with our partners to provide more opportunities to create jobs and the Nigeria Jubilee Fellows Programme in partnership with the United Nation’s Development Programme being one of such opportunities,’’ he added.
The President said, “The jubilee programme will provide a pathway for young Nigerians to gain work experience in top tier organisations, gaining relevant skills and building the right networks for the future in various sectors including information and communications technology, financial services, trade, manufacturing, agriculture and agro-processing.
“Other sectors include mining, telecommunications, creative industries and technology, education, health, research and development, and public sector institutions. We believe that building the right skills and experiences across these sectors are important to sustain the economic growth we are experiencing.’’
He said the programme will build on other efforts of the government to support young Nigerians such as the N75billion youth fund in the Ministry of Youth and Sports Development, which was created to support young Nigerians in business or with business ideas, with N25billion released annually for three years.
“The Economic Sustainability Plan (ESP) was our response to the Covid-19 pandemic. We have set up a survival fund that has helped many businesses stay afloat in the worst economic periods of the last 5 years, more than one million Nigerians have benefitted from the fund, with more than 500,000 benefitting from the MSMEs Payroll support track, approximately 270,000 beneficiaries of the artisan support track, and about 50,000 beneficiaries of the MSME grant scheme,’’ the President added.
According to him, the International Labour Organisation estimated the equivalent of an unprecedented 255million jobs being lost around the world as a result of the Covid-19 pandemic.
Buhari noted that the Nigeria Jubilee Fellows Programme, being a fully paid post-NYSC work placement programme would provide an opportunity for mentors who were already engaged in various industries, gained relevant experience and built capacity over the years to provide mentorship and support for young Nigerians.
“Beyond the skills and work experience, we will be building a new culture of mentorship and guidance that can chart a new course for skills development and work experience in our country.
“We believe that as this programme creates new opportunities for 20,000 recent graduates annually, the beneficiaries will use the opportunities presented to them and maximize their 12 months of engagement,’’ he said.
The President encouraged all eligible Nigerians to apply for the jubilee programme.
He urged private sector organizations to join by providing work placement opportunities, mentors and funding.
“I would like to say thank you to the United Nations Development Programme and the European Union for their support on this vital initiative. And I hereby declare the program open,’’ he said.
In his remarks, the Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo said the government remains appreciative of the role of the private sector in transforming economies by creating employment and employment opportunities and investments.
He said start-ups, largely driven by young Nigerians, attracted $170million in the past year, which was the highest on the African continent, explaining that the Nigeria Jubilee Fellows Programme was to celebrate the nation’s 60th anniversary.
Adebayo noted the role of Vice President Yemi Osinbajo in driving the initiative to fruition and support of the United Nations Development Programme (UNDP).
The Resident Representative of UNDP, Mohammed Yahya assured that the UN will continually support Nigeria to move human potentials across the country to capacities and skills that will place the country on a better pedestal.
“Each day, young Nigerians continue to break barriers with their capacity and ingenuity,’’ he said, “Young Nigerians have produced outstanding innovations. There is no shortage of talents in Nigeria.’’
The EU Deputy Head of Delegation, Alexandre Borges Gomes; and UN Resident Coordinator, Edward Kallon; commended the initiative, saying the programme benefitted from wide consultations.
This reaffirms the lawmakers’ commitment to enacting laws and taking legislative actions geared towards the overall development of the State.
The Assembly gave the approval during its Second Legislative Sitting of the Fourth Session held last Friday.
Speaking on the MTEF document during plenary, the House Speaker, Rt. Hon. Martin Amaewhule, noted that by the provision of Section 10(1)(b) of the Rivers State Fiscal Responsibility Law No. 8 of 2010, the MTEF ought to have been laid before the House in September 2025.
Amaewhule explained that traditionally, the document is expected to be presented four months before the commencement of the next financial year and immediately after the expiration of every three-year fiscal cycle.
He, however, stated that in the interest of the State and its people, the House considered it necessary to deliberate on the document, describing it as a precursor to the 2026 Budget Estimates.
The Speaker expressed concern that the year had already progressed significantly before the presentation of the framework.
During deliberations on the document, members examined the assumptions and projections contained in the MTEF and observed that strict adherence to the outlined fiscal parameters would ultimately serve the interest of Rivers people.
The lawmakers maintained that effective implementation of the framework would promote prudent financial management and enhance developmental planning across the State.
Following the debate and positive consideration by members, the Speaker put the question to the House and members voted overwhelmingly in support of the approval of the MTEF.
Meanwhile, during the same sitting last Friday, the House also received a petition from the Chairman of Obio/Akpor Local Government Council, Dr. Gift Worlu.
The petition was presented by the member representing Obio/Akpor Constituency II, Hon. Emilia Amadi.
According to the petition, concerns were raised over an imminent security breach, threats to lives, destruction of property and alleged forceful takeover of property by some lawless persons within parts of the Local Government Area.
Presenting the petition before the House, Hon. Amadi appealed to the lawmakers to revisit the matter and take necessary steps aimed at safeguarding lives and property in the affected communities.
The House is expected to further deliberate on the petition and consider measures to address the concerns raised in order to sustain peace and security in the area.
King Onunwor
News
Fubara Reaffirms Commitment To Blue Economy, Private Sector Growth …Calls For Protection Of Marine Resources
Rivers State Governor, Sir Siminalayi Fubara, made this known during the opening ceremony of the 2026 Annual General Meeting and Conference of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), held in Port Harcourt, last Thursday.
Represented by his deputy, Prof. Ngozi Odu, Governor Fubara described the conference theme, “The Gulf of Guinea and Blue Economy: Pathways to Trade, Investment and Security Towards a $1 Trillion Economy,” as both timely and strategic.
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?The governor welcomed the leadership of NACCIMA, delegates from the 115 Chambers of Commerce across Nigeria, members of the diplomatic corps, captains of industry, investors, and other distinguished guests to Rivers State.
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?He commended the National President of NACCIMA, Engr. Jani Ibrahim, for choosing Rivers State as the host of the 2026 conference, noting that the decision had drawn national attention to the immense economic opportunities embedded in the blue economy.
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?Fubara stated that the blue economy possesses the capacity to generate revenue that could surpass earnings from the oil and gas sector if properly developed and managed.
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?He stressed the need for Nigeria and other countries along the Gulf of Guinea to take deliberate steps toward maximizing the benefits of their maritime resources while guarding against the continued exploitation of coastal assets by foreign operators.
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?Expressing concern over the activities of foreign fishing trawlers operating in Nigerian waters, the governor noted that many harvest seafood resources without making meaningful economic contributions to the country.
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?He emphasized the need for stronger monitoring mechanisms and enhanced protection of Nigeria’s marine resources.
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?”We must wake up and hit the ground running. If we do not capitalize on and utilize our blue economy, other nations will utilize it for us,” he stated.
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?The governor thanked NACCIMA for what he described as a timely wake-up call on the importance of the blue economy and maritime security, adding that the successful hosting of the conference in Rivers State demonstrates the state’s safety, hospitality, and readiness for business and investment.
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?Earlier in his remarks, the President of NACCIMA, Engr. Jani Ibrahim, expressed appreciation to the Rivers State Government for hosting the 66th Annual General Conference of the Association and for the warm reception accorded delegates.
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?He noted that the state’s commitment to hosting the conference reflects its readiness for business and has helped restore investors’ confidence in its economic potential.
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?According to him, NACCIMA highly values the cordial relationship between the Rivers State Government and the organized private sector, emphasizing that the association remains the foremost voice of the Nigerian business community.
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?In her welcome address, the President of the Port Harcourt Chamber of Commerce, Industry, Mines and Agriculture (PHCCIMA), Dr. Chinyere Nwoga, described the conference as a historic milestone, noting that it was the first time in the Chamber’s 66-year history that it was hosting the national body of NACCIMA.
Nwoga commended the national leadership for entrusting PHCCIMA with the hosting rights and pledged the Chamber’s continued commitment to advancing the objectives of the association and promoting sustainable economic growth through private sector engagement.
Fubara gave the order during his visit to the site of the collapsed building last Thursday to assess the situation.
He said the site will remain “completely sealed off” until the government gets to the “root cause” of the incident.
He described the incident as unfortunate but observed that preliminary investigation had shown that the developer had earlier refused to subject his site to inspection by the state authorities and comply with the necessary building regulations.
The governor, who inspected the site alongside the Commissioner for Physical Planning and Urban Development, Sir Amairigha Edward Hart, and the Permanent Secretary of the Ministry of Special Duties, Dabite Sokari George, explained that he couldn’t visit the site the previous day because he was awaiting formal briefing from the relevant agency of government on the situation.
“We’re here to see for ourselves the very unfortunate incident that took place here. I didn’t come yesterday because I wanted to get the report first, and the Commissioner did brief me that the incident site, first, is not as claimed by the developer, that it’s not under the jurisdiction of the state; that it’s under the jurisdiction of the Federal Housing Authority.
“He also informed me that when the project was ongoing, they came here severally to inspect what was happening and also to see the level of compliance. But unfortunately, that the developer kept claiming that we don’t have any right to interfere,” he said.
Fubara said that the issue was no longer about interference but about the life lost to the building collapse and the collateral damage brought upon the family of the deceased.
He extended condolences to the families of the victims, insisting that the incident could have been avoided if the developer had complied with the rules guiding the engineering design and construction of such a structure in the 21st century.
“We feel very sorry and very regretful that such an incident should be happening in this 21st century because technology has advanced, engineering has developed. I wonder what kind of engineer would even allow this kind of project to go on when everything about it from inception has been faulty.
“I think that at this point, nothing is going to happen on this site any more. We are going to make sure that this place is completely sealed off until we get to the root cause of this incident,” the governor said.
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