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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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NAF, US Officials Meet To Fast-Track Delivery Of Attack Helicopters

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Officers of the Nigerian Air Force have met with senior officials of the United States Government and representatives of Messrs Bell Textron to fast-track the acquisition of 12 AH-1Z attack helicopters.

The meeting took place during a Programme Management Review meeting led by the Chief of the Air Staff, Air Marshal Sunday Kelvin Aneke, from 5 to 6 January 2026 in San Diego, California, United States.

A statement by the NAF spokesperson, Ehimen Ejodame, yesterday, said the meeting focused on assessing the status of the helicopter acquisition and measures to ensure the timely delivery of the 12 AH-1Z platforms.

According to the statement, Aneke said the review was aimed at strengthening programme oversight, accountability and adherence to agreed timelines and budget.

“In a strategic move to enhance the operational capacity of the Nigerian Air Force, the Chief of the Air Staff, Air Marshal Sunday Aneke, led a Programme Management Review meeting with senior United States Government officials and representatives of Messrs Bell Textron from 5 to 6 January 2026 in San Diego, California, USA.

“The engagement focused on fast-tracking the acquisition of 12 AH-1Z attack helicopters, a critical capability enhancement aligned with the CAS’s Command Philosophy of building and sustaining a highly motivated, professional, and mission-ready force capable of delivering decisive airpower effects in synergy with surface forces for the attainment of national security objectives, ” the statement partly read.

Aneke expressed appreciation to the United States Government and Messrs Bell Textron for their continued cooperation, professionalism, and transparency in the execution of the helicopter acquisition programme.

He noted that the structured review reflects the NAF’s deliberate emphasis on programme discipline, accountability, and results.

“We deeply value the professionalism and openness demonstrated throughout this process, and we remain fully committed to working closely with our partners to ensure the timely and successful delivery of these platforms,” the CAS stated.

The CAS further emphasised that the acquisition of the AH-1Z helicopters represents more than a platform upgrade, describing it as a reflection of the enduring defence cooperation between Nigeria and the United States.

According to him, the programme underscores a shared responsibility for regional and global security, built on mutual trust, shared values, and a common vision for peace and stability.

“This partnership speaks to our collective resolve to confront evolving security challenges through collaboration and sustained capability development,” he added.

Reaffirming the NAF’s sense of urgency and commitment, Air Marshal Aneke assured the US team that his administration would take all necessary measures to ensure the helicopters are delivered in the shortest possible time.

He also charged the programme management team to work smartly and proactively to complete production on schedule and within budget.

“Timelines and standards must be met concurrently. We must remain focused, innovative, and solutions-driven,” the CAS stressed.

The CAS expressed profound gratitude to the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, President Bola Tinubu, for his unwavering support to the Nigerian Air Force.

He noted that the acquisition of the AH-1Z helicopters would significantly enhance the NAF’s combat capability, operational efficiency, and mission readiness, thereby strengthening the Service’s ability to deliver decisive airpower in support of national security and stability.

He added that the advanced capabilities of the helicopters would enable the Nigerian Air Force to conduct highly precise operations, minimise collateral damage, and provide timely and effective support to ground forces, ultimately saving lives and protecting property across affected communities.

The CAS reassured Nigerians of the NAF’s unwavering commitment to eliminating terrorist and criminal threats with professionalism, restraint, and accountability, while sustaining public trust and confidence in the Service’s operations.

Recall that Nigeria’s purchase of 12 AH-1Z attack helicopters was first approved by the United States government in April 2022, when the U.S. State Department, through the Defence Security Cooperation Agency, cleared a possible Foreign Military Sale of the helicopters and related equipment to the Government of Nigeria.

According to Military Africa, the formal production and delivery contract for the 12 AH-1Z helicopters, valued at $455 million, was awarded to Bell Textron on 12 March 2024 by the U.S. Department of Defence.

 

 

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Fast-Track Approval Of NDDC N1.75trn Budget, Group Begs N’Assembly

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The Niger Delta advocacy group, the 21st Century Youths of Niger Delta and Agitators with Conscience (21st CYNDAC), has called on the National Assembly to expedite consideration and approval of the 2025 budget of the Niger Delta Development Commission (NDDC) to enable the Commission accelerate its development programmes across the region.

In a statement issued yesterday by its Coordinator, Izon Ebi, the group said swift passage of the budget would empower the Managing Director and Chief Executive Officer of the NDDC, Dr. Samuel Ogbuku, to fully implement his renewed developmental strategy and extend projects to all target communities in the Niger Delta.

The group recalled that the NDDC, on December 30, 2025, presented a ?1.75 trillion budget proposal for the 2025 fiscal year to the Senate and the House of Representatives.

Explaining the proposal, Ogbuku had noted that the 2025 budget is about nine per cent lower than the ?1.985 trillion proposed and appropriated for the 2024 fiscal year.

He said the ?1.75 trillion estimate comprises ?776.5 billion as Federal Government contribution, ?752.8 billion from oil companies, ?109.4 billion as revenue brought forward from 2024, ?53.67 billion as recoveries from Federal Government agencies, and ?8.35 billion as internally generated revenue.

The group praised Ogbuku’s leadership, describing him as having transformed the NDDC into “a beacon of renewed hope” for the Niger Delta region.

The group said it was impressed by what it called Ogbuku’s charismatic leadership, grassroots engagement and developmental drive, which it noted align with President Bola Tinubu’s Renewed Hope Agenda.

According to the group, Ogbuku’s consultations with traditional rulers and stakeholders across the Niger Delta have helped identify priority needs of communities, strengthened collaboration in the fight against crude oil theft and contributed to a noticeable decline in criminal activities in the oil and gas sector.

The statement also highlighted the Commission’s partnership with the World Health Organization (WHO) on health insurance and medical outreach programmes, improved monitoring and supervision of projects, and the deployment of solar-powered streetlights across communities, which it said has enhanced security and economic activities at night.

The group urged lawmakers to act swiftly on the budget, stressing that timely approval would further boost development, peace and stability in the Niger Delta.

It also announced that it had conferred on Ogbuku the award of “Extraordinary Leader of 2025 in the Niger Delta Region.”

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Arrest Arise TV Crew Attackers Or Face Boycott, Journalists Tell Rivers Police

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Port Harcourt based media practitioners under the aegis of Port Harcourt Press, have urged the Rivers State Police Command to arrest and prosecute all suspects involved in the recent attack and harassment of Arise TV crew in Port Harcourt.

The media practitioners, at a World press conference in Port Harcourt, described as dangerous the continuous harassment of journalists by various political actors in the ongoing political crisis in the State.

The text of the briefing which was read by a former State Commissioner for information and Communications and federal lawmaker in the State, Hon. Ogbonna Nwuke, described as condemnable the attack on the Arise TV crew by suspected political thugs in Port Harcourt, while conducting an interview with Dr Leloonu Nwibubasa, a former commissioner in the State.

According to him, “That harrowing event of Friday, January 2, where the Arise TV crew were brutally attacked by armed men in a hotel in Port Harcourt while conducting interview with Dr Leloonu Nwibubasa, former Honourable Commissioner for Employment Generation and Empowerment, smacks of nothing but act of intimidation, threat to both the Nigerian media and human lives especially in the forceful carting away of broadcast equipment.”

The group further noted that the attack was not only an insult on the press freedom but on the larger society.

The group regretted the inability of the Police to arrest and bring to book the perpetrators of the act till date, warning that it may be forced to boycott police activities if those involved are not arrested and brought to book.

“From all indications, the police appear to be playing to the gallery. While the broadcast equipment were reportedly recovered, no definite arrest have been made. This body, therefore, demands an urgent and thorough investigation of this matter and those find  culpable brought to justice within two weeks.

“Failure to address this issue with the urgency it requires and not carrying out satisfactory actions as required in their prosecution will attract sanctions such as withdrawal of coverage of all police activities in Rivers State by media organisations and journalists as we stand in solidarity with the NUJ,” the group warned.

John Bibor

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