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Fubara Empowers 3,066 MSMES With N4bn Soft Loan

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Rivers State Governor, Sir Siminalayi Fubara, has formally launched the N4billion matching fund loan scheme that will stimulate business activities in the State while also creating wealth.
The launching, which took place at the Dr Obi Wali International Conference Centre in Port Harcourt last Friday, signaled the commencement of the disbursement of Rivers State Government/Bank of Industry (BOI) Limited N4billion marching fund loan scheme for nano, small and medium-scale businesses in the State.
Governor Fubara said the lack of access to credit had continued to aggravate financial exclusion and choked the prospects for individuals to realise their economic aspirations for a better life.
But with the scheme, which is a partnership between Rivers State Government and BOI, now launched, Governor Fubara emphasised that a surest path has been secured to achieve entrepreneurial success while serving as an enabler of economic prosperity in the State.
“Today, we are all here to witness the formal launch and distribution of cheques to 3,066 micro, small, and medium-scale enterprises and 100 companies in the State from all 23 local government areas, including businesses owned by non-indigenes valued at over N3.6billion only.
“We are satisfied with today’s outing and professionalism, believing even more strongly that the potential outcome will be greater to both BOI and the Government and good people of Rivers State.”
Governor Fubara explained that as a campaign blueprint, he promised, during his electioneering campaigns, to support entrepreneurial development and the growth of businesses through access to credit in the form of soft loans.
The Governor said, upon assumption of office, he noticed more closely how most businesses, especially those of small scale, struggled and either died or gasped in accessing credit that were only offered by banks at neck-breaking interest without success.
Governor Fubara pointed out that: “As a State, we cannot talk about economic growth without stimulating business activities to create wealth and jobs through policies and programmes that will engender greater public access to credit and financial inclusion.
“MSMEs are well-known as critical drivers of inclusive economic growth and development. By empowering our people to cultivate available economic opportunities, access to credit is a powerful tool for achieving financial security.
“We can only keep imaging the economic value that the over 3,000 MSMEs would add to the positive economic dynamics of Rivers State and the local government areas in terms of gross domestic product, increased tax returns, employment creation, income distribution and production of good and services.”
Governor Fubara made it clear that even if the loan appeared very liberal, it is not given as charity, and insisted that beneficiaries must pay back so that others can access it to fund their businesses.
The Governor, therefore, instructed the management of the Rivers State Microfinance Agency (RIMA) to monitor the progress of the beneficiaries in their businesses and ensure a 100 percent recovery of the loans to guarantee the sustainability of the programme.
Governor Fubara noted the gains of the symbiotic economic partnership between the State Government and BOI, and the transformed commitment to further strengthen and cultivate it for the benefit of the people of Rivers State.
In his address, the Managing Director/Chief Executive Officer of Bank of Industry (BOI) Limited, Dr Olasupo Olusi, represented by the Executive Director of Corporate Services and Commerical, Mr Usen Effiong, said they were particularly interested in ensuring that the collaboration is realised in steering socio-economic growth, creating jobs, checkmating social vices and growing the IGR of Rivers State.
“BOI remains committed and a strong pillar of development financing in Nigeria for over 60 years. Our remarkable record and total assets exceed N4trillion, which makes BOI the largest and most successful development finance institution in the nation.
“It will interest us to know that our total investment in Rivers State as at today stands at N55.65billion, which accounts for 55 percent of the total investment in the entire South-South. So, Rivers State alone is taking the chunk of our investment.
“We, as the Bank of Industry Limited, play a major role in supporting Nigerian enterprises by providing financial services, advisory services, and watch businesses grow from Nano to Micro to Small, Medium and getting to large enterprises.
“Our mandate is to create development impact which is in line with the economic blueprint of His Excellency, the Governor of Rivers State, and this cuts across various sectors ranging from agriculture, oil and gas, power and aviation, hospitality. This, we believe will crystalize industrialization and economic sustainability in Rivers State.”
Delivering his welcome address, the Managing Director and Chief Executive Officer of Rivers State Microfinance Agency (RIMA), Pastor Jonathan Tobin, said it was exciting that they were given the opportunity to contribute to achieving the dream project of Governor Fubara christened, “Touching Lives, Creating Wealth.”
Pastor Tobin stated that the timing of the launching of the scheme is auspicious because it was coming when the operating capital of most businesses have been eroded.
He explained that there are grave inflation rate and fluctuation of the foreign exchange regime, which have posed unbearable challenges to most micro businesses.
Pastor Tobin said the interest rate for loan collected under the scheme is single digit, which is 7.5 percent per annum, and reckons as the lowest in the country.
“Today, Your Excellency, we have four categories of borrowers. Those who are borrowing from N1,000 to N1,000.000. Those who are borrowing from above N1,000.000 to N50,000,000 are treated by our partners, Bank of Industry.
“If you are borrowing from N100,000 to N450,000, all you need to provide is just your passport photograph, the passport photograph of your guarantor, your NIN, and local government identification.
“For those who are borrowing from N500,000 to N1,000,000, all they need to provide is two passport photographs, their NIN, their means of identification, BVN, a guarantor with a cheque leaf. These categories of borrowers are treated in RIMA,” he added.
Pastor Tobin said further: “Those who are borrowing from above N1,000,000 to N10,000,000 will be treated in Bank of Industry. All they need is just a proof of registration of their businesses, two guarantors, a valid identification card, and a simple business plan.
”For those who are borrowing N10,000,000 to N50,000,000, all they need is a Corporate Affairs Commission Registration, two years’ audited financial record, a Certificate of Occupancy, BVN, tax clearance of the company and or the directors.
”Your Excellency, as at today, we have brought on board 3,066 beneficiaries, and they all are requesting for N1.632billion. Interestingly, women borrowers account for 58 percent while the men borrowers account for 42 percent.”
He urged Rivers people interested in forging a good and sustainable business path to approach the agency for support yo enable them contribute to the economic revival and growth of the State.
Highlight of the event was the official launch of the loan scheme and presentation of cheques to some successful beneficiaries from across the 23 LGAs and some small business owners by the State Governor, Sir Siminalayi Fubara.

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Disu Takes Over As New IGP …Declares Total War On Corruption, Impunity

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President Bola Tinubu has charged the newly decorated acting Inspector-General of Police, Tunji Disu, to make the Nigeria Police Force better than he met it, as the country grapples with banditry, terrorism, and other criminal activities.

The President, who personally decorated Disu with his new rank at the State House, Abuja, said the appointment comes at “a defining moment for our nation’s security,” expressing confidence in the new police chief’s ability to restore public confidence in the Force.

“The commitment that I expect from you is for you to make it better than you met it. And I’m sure you can do it. Nigeria is challenged right now with banditry, terrorism and all sorts of criminal activities,” Tinubu stated during the decoration ceremony on Wednesday.

The President, who drew on his personal knowledge of Disu from his tenure as Lagos State Governor, said he believes in the dedication the new IGP exhibited while serving in Lagos.

“I know your record. I believe in the dedication that you’ve exhibited while you were in Lagos and I was the Governor of Lagos State.

“Now you assume this responsibility at a defining moment for our nation’s security,” the President said.

Tinubu outlined specific expectations for the new police chief, emphasising discipline, professionalism, and inter-agency collaboration.

“I expect you to strengthen the discipline, enhance inter-agency collaboration, and restore public confidence in the Nigeria Police.

“Lead firmly but fairly, demand professionalism at every level and ensure that safety of lives and property remains your highest priority,” he charged.

Acknowledging the magnitude of the task ahead, the President assured Disu of his full support.

“It is a daunting challenge. I know you can do it.

“You have my full support as you advance the security pillars of the Renewed Hope agenda.

“You are a straightforward individual, committed and respected. You have sufficient discipline,” Tinubu stated.

The President urged the new IGP to draw from the experience of his predecessor, Kayode Egbetokun, who attended the ceremony.

“You can draw from the experience of Kayode Egbetokun who had been there before you.

“You have been part of the thinking, and you’ve been part of the innovation.

“The challenge as you hold the baton of this leadership is the belief that you will excel and Nigeria will prevail,” he said.

Tge President expressed gratitude to the former IGP, Kayode Egbetokun for his service while linking his legacy to the success of his successor.

“To the outgoing Inspector-General of Police, I extend the gratitude of the entire country.

“Nigeria, we are a grateful nation to you for your dedication in service, expression of good leadership attributes within the Force.

“You have served with commitment and distinction, and Nigeria appreciates your contribution to maintaining law and order in our country,” the President said.

He added, “What you should look back and remember is this: you have not succeeded without a good successor.

“Therefore, the success of Tunji Disu as IGP, when confirmed, is part of your responsibility and the joy you should look forward to.”

Tinubu noted that Disu’s previous role as Principal Staff Officer to Egbetokun positioned him well for the new assignment.

“Having been part of your Principal Staff Officer, I have no doubt he understands the ins and outs of the operation.

“He will only improvise. He’s an operational person from what I know,” the President stated.

The decoration ceremony, which took place at 4:00 pm at the President’s office, had in attendance Chief of Staff to the President Femi Gbajabiamila, and other senior government officials.

President Tinubu personally pinned the new insignia on Disu’s uniform, marking the formal transfer of leadership of Africa’s largest police force.

In his response, Disu pledged to justify the confidence reposed in him, vowing to end impunity and enforce zero tolerance to corruption within the Force.

“The President mentioning a lot of activities about me, mentioning areas I’ve worked, mentioning successes I’ve recorded as a policeman, brought emotion to me, almost brought me to tears,” Disu told State House correspondents.

He added, “I will let them know that the era of impunity is over. I will ensure that I train them and encourage them to follow human rights. I will ensure that they know that I will try to follow a regime of zero tolerance to corruption.”

The new police chief emphasised that Nigerian citizens are the ultimate bosses of the police.

“One of the first lectures I’m going to have with my men, I’m going to talk to them, let them know that the citizen, the citizen of the country, are the boss. No police anywhere in the world can succeed without the cooperation of members of the public,” Disu stated.

Egbetokun, in his remarks, expressed confidence in his successor’s ability to surpass his achievements.

“I invested in likely successors in the Nigerian Police Force, and I’m happy that one of those that I’ve invested in has been found most suitable for the job. I have so much confidence that he would surpass what I have done,” Egbetokun stated.

The decoration came barely 24 hours after Egbetokun submitted his resignation letter on Tuesday, citing family issues that require his undivided attention.

The new Police Chief later proceeded to the Police Headquarters to assume duty following his decoration by President Tinubu earlier in the day.

He took his first salute as Inspector-General from members of the Quarter Guard and other officers at the Force Headquarters after returning from the Presidential Villa at about 4:15 p.m. He thereafter proceeded to the official handover ceremony with Egbetokun.

Disu outlined three priorities for his tenure: professionalism and modernisation; accountability and integrity; and community partnership.

However, multiple Presidency sources told our correspondent that Egbetokun was asked to step down during a meeting with the President on Monday evening at the Presidential Villa.

Disu’s appointment came just 48 days before his scheduled retirement on April 13, 2026, when he would have reached the mandatory retirement age of 60 years.

However, under the amended Police Act, which allows Inspectors-General of Police to serve a four-year tenure regardless of age, Disu may remain in office until 2030.

According to the Special Adviser to the President on Information and Strategy, Bayo Onanuga, President Tinubu will convene a meeting of the Nigeria Police Council shortly to formally consider Disu’s appointment as substantive Inspector-General of Police, after which his name will be transmitted to the Senate for confirmation.

Born on April 13, 1966, on Lagos Island, Lagos State, Disu joined the Nigeria Police Force on May 18, 1992, and has served for over three decades across multiple operational and leadership roles.

He rose to national prominence as Commander of the Rapid Response Squad in Lagos State, where he served for six years. Under his leadership, the unit won the Best Anti-Crime Squad award in West Africa in 2016.

On August 2, 2021, he was appointed to head the Intelligence Response Team, replacing the suspended Abba Kyari.

Before his elevation to IGP, Disu was Assistant Inspector-General of Police in charge of the Force Criminal Investigation Department Annex, Alagbon, Lagos. He was also a Commissioner of Police in Rivers State and the Federal Capital Territory, Abuja.

 

 

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Amend Constitution To Accommodate State Police, Tinubu Tells Senators

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President Bola Tinubu has appealed to the leadership of the 10th Senate to amend the constitution to provide a legal framework for the establishment of State Police to tackle insecurity nationwide.

President Tinubu made the appeal during an interfaith breakfast with senators at the Presidential Villa in Abuja, yesterday.

The president said that the creation of State Police has become urgent to address Nigeria’s evolving security challenges, strengthen grassroots policing, and enhance states’ capacity to respond swiftly to threats within their jurisdictions.

He noted that a decentralised policing structure would complement existing federal security architecture and promote intelligence-led, community-focused law enforcement.

“We are facing terrorism, banditry, and insurgency. But we will never fail to make a right response to this cause. What I will ask for tonight is for you (Senators) to start thinking how best to amend the constitution to incorporate the State Police for us to secure our country, take over our forests from marauders, and free our children from fear,” he said.

The president commended the cordial relationship between the Executive and the Senate, saying that unity is needed to defeat terrorism and banditry in the country.

“It is a good thing that we are working in harmony, we are looking forward to a country that evolves, a country that takes care of its citizens and protects all.

Tinubu thanked the Senate for its unflinching support towards achieving various economic reforms of his administration, especially the fuel subsidy removal and tax reform policy.

“I have a lot of credit for bold reforms. Without your collaboration and inspiration, those reforms would not be possible. We are reformists together. What we gave up and what we stopped is monumental corruption in the subsidy system. We don’t want to participate in monumental corruption and arbitrage foreign exchange.

You don’t have to chase me for dollars; you could see what Nigeria is today. You should be proud, and I am glad you are. What we are enjoying is a stable economy, and prosperity is beckoning us. We need to work hard, and this attendance means a lot to me,” the president said.

President of the Senate, Godswill Akpabio, commended the president for hosting the leadership of the Senate to the Interfaith breaking of fast.

He commended President Tinubu for providing the visionary leadership the nation needs at this critical time, stating that the administration’s bold reforms have now brought more revenue to governors at the sub-national level for the development of critical infrastructure.

The Senate President prayed for the administration, and for the nation’s peace and prosperity.

 

 

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We’ve Made Significant Strides In Health Sector -Fubara

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Rivers State Governor, Sir Siminalayi Fubara, has  declared  that his administration has made significant strides in the health sector in the past two and a half years.

Fubara, who stated this on Tuesday  at the Government House,  Port Harcourt, listed some of his notable achievements to include the revamping of  health facilities, the establishment of the health insurance scheme and the employment of over 2,000 health workers to boost the manpower and  efficiency of the sector.

The governor further disclosed that the administration has revived and expanded several abandoned health facilities, including the Zonal Hospitals in Bori, Omoku, Ahoada, and Degema.

He explained that the Ahoada Zonal Hospital is a 105-bed secondary facility that has capacity to cater for the health needs of the people in its catchment area.

In addition to the Zonal Hospitals, Fubara stated that his administration has also  paid very close attention to the Primary Healthcare Centres across the state to ensure that citizens of Rivers State, especially  those in the rural areas,  have easy access to healthcare within their communities.

According to him, the administration  approved the remodeling of 153 primary healthcare centers across the State to ensure their functionality.

“As an administration, we are very passionate about  the health of every citizen and resident of Rivers State. When we realised that many people have been under stress as a result of economic hardship, we decided to introduce mental health services at the primary healthcare level. We  are not just catering for those down with the common diseases such as malaria fever, we  want to ensure that our people get the right attention to their mental health at the right time.

“At the tertiary level, we have also  revamped the Intensive Care Unit of the Rivers State University Teaching Hospital  and provided it with modern equipment, including monitors, ventilators, and scanners. Most of these innovations are massive and unprecedented,” he said.

On staff welfare, Fubara also disclosed that he  approved the  promotions for over 400 staff of the Rivers State University Teaching Hospital and recruited an additional 500 staff.

In the same vein, the governor  said the  number of scholarships for indigenes of Rivers State studying at the  PAMO University of Medical Sciences has been increased from one hundred 100 to 150 under his watch.

 

 

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