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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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ECOWAS Court Orders Nigeria to Pay N52m compensation to Rivers, Lagos Evictees

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The ECOWAS Court has ordered Nigeria to pay two million Naira compensation each to 26 people who were forcibly evicted from various communities in Lagos and Rivers between 2004 and 2013.

The Tide source reports that the applicants, Mr Edwin Lenyie and 25 others had filed the suit No: ECW/CCJ/APP/34/17), seeking the enforcement of their fundamental human rights.

They also prayed the court to compel the Nigerian government to pay them compensation for forcefully evicting them from their communities without prior notice, compensation, or alternative shelter, rendering them homeless.

Delivering judgment yesterday, the court held that the Nigerian government failed in its responsibility to ensure access to legal remedies for the victims.

According to the community court, the action of the Nigerian government was in violation of Article 7 of the African Charter on Human and People’s Rights.

It held that the Applicants’ rights under Article 7 of the African Charter on Human and Peoples’ Rights (ACHPR), which guarantees the right to a fair trial and access to justice, were violated.

The court said that the hearings on the matter, which were held by the National Human Rights Commission (NHRC) “were never concluded, and no alternative means of redress were provided for them.”

“Inspite of initial hearings by the National Human Rights Commission (NHRC) in 2014, the proceedings were suspended indefinitely, leaving the Applicants without legal recourse,” the court said.

The court further dismissed Nigeria’s objections that the Applicants should have pursued their claims in Nigerian courts and on jurisdiction, saying it had the locus standi to entertain the case.

It further struck out the NHRC as a respondent in the case, and ordered that the Federal Government must bear full responsibility for the actions of its agencies.

The three-member panel of the court which has Justices Ricardo Gonçalves (presiding); Sengu Koroma (judge rapporteur); and Gberi-Bè Ouattara (member) held that the compensation/reparation would ensure that justice is served the victims.

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RSG Moves To Boost Immunization, Commissions Solarized Cold Room, Vehicles

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As part of efforts to ensure efficient immunization and vaccine efficacy, the Rivers state Government has commissioned a solarised walk-in cold room for vaccine preservation and vaccine vial crusher.

 

Also commissioned were nine operational Hilux vehicles and ten motorcycles for disease surveillance across some local government areas in the state.

 

Rivers Deputy Governor, Professor Ngozi Odu, who commissioned the facilities at the Rivers State Primary Healthcare Management Board premises in Port Harcourt, said the development marks a significant milestone in the government’s unwavering commitment to the health care and wellbeing of Rivers people.

 

The Deputy Governor said that with the ceremony, the state government is not only inaugurating the equipment but also strengthening the foundation of the health care delivery system

 

She said: “Today marks a significant milestone in our unwavering commitment to the health and wellbeing of our people.

 

“As we commission the solarised work in cold room to the surveillance motorcycles, we are not only inaugurating the equipment, we are strengthening the foundation of our health care delivery system.’

 

Professor Odu further said the installation of the cold room also represents the government’s dedication to maintaining vaccine efficacy as well as ensuring that every child and citizen receives life savings immunization.

 

According to her, the commissioned Hilux vehicles and motorcycles for disease surveillance also demonstrate the government’s proactive stance in safeguarding health facilities across the local government areas.

 

She said the present administration, under the leadership of Governor Siminalayi Fubara, has consistently prioritised health care infrastructure in the local government areas.

 

Professor Odu commended the United Nations Children Funds (UNICEF), the World Health Organization WHO, and others for their immense support.

 

In her remarks, Rivers Commissioner for Health, Dr. Adaeze Oreh, who spoke through her Permanent Secretary, Dr. Comfort Mekele Igwe said the commissioning would greatly enhance vaccine storage, handling, and distribution and underscores the government’s commitment to improve the efficiency, effectiveness, and sustainability of the Primary Healthcare System

 

Also speaking, the Executive Secretary of the Rivers State Primary Health Care Management Board (RSPHCMB), Professor Kinikanwo Green, said the commissioning is to strengthen health care delivery system in the state.

 

Green described the solarised walk-in cold room as one of the best in the country, stressing that it would take care of all vaccines.

 

He also explained that the vehicles will help health officers, especially in the rural areas to ensure proper supervision of immunisation as well as easy dispatches of vaccines to its destination.

 

According to the Executive Secretary, the situation will also enable the state to achieve universal health coverage

 

Speaking in similar vein, the chairman of RSPHCMB, Professor Blessing Jaja, said the board will continue to deliver on it core mandate and commended Governor Fubara for ensuring regular subvention as well promotion of its staff.

 

In their separate speeches, representatives of the World Health Organization (WHO), Dr Kolude Oluwafunmilola, and Dr Anselem Audu of UNICEF said the ceremony represents Rivers state’s commitment to quality health care.

 

They also commended the government for its efforts in advancing immunization in the state and assured of their continuous collaborations.

 

John Bibor

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Fubara Tasks New Surveyor-General On Professionalism  …Says Appointment Based On Merit

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Rivers State Governor, Sir Siminalayi Fubara, has urged the Surveyor-General of the State to work differently with professionalism, diligence and integrity, and ensure that every tenable, pragmatic module is deplored to enhance effective delivery of his duties and responsibilities.

 

Governor Fubara gave the charge shortly after swearing in Surveyor Peter Ogolo as the Surveyor-General of the State and Permanent Secretary of the Survey Department at Government House in Port Harcourt, last Tuesday.

 

The Governor described Surveyor Ogolo as a long serving public officer who ranks high among his peers, and has contributed immensely to the establishment of most development roadmaps for the State, stressing that his appointment was based purely on merit.

 

He said, “If you go into the history of how the then Greater Port Harcourt Development Authority was established, if you go into the history of other developments in this State, if you check the survey plans, you will see that Ogolo was the one who signed virtually all those things.

 

“This appointment is not because he is from Opobo. He is the most senior, most qualified, and even the one who interviewed the person he is succeeding now. The records are there with the Civil Service Commission.”

 

Governor Fubara stated: “So, I don’t need to give you any charge. You are already there. You know what the office entails. You just read your oath of office: do what is right. It is not about the faces you are going to see, do what is right. Be professional, defend and protect the interest of the State. I wish you all the best. God will guide you.”

 

Governor Fubara recalled the challenges that Surveyor Ogolo encountered that would have ended his career quite early but quickly added that because he listened to wise counsel, he is now celebrating being the Surveyor-General of the State.

 

He explained,  “But something happened in the course of his service. He was between losing his job or fighting for his life. He came to me, and I advised him: why don’t you leave, maybe, wait to fight another day.

 

“And that is why today he is alive to be the Surveyor-General. If he had stood to fight, that he is the most senior, that he is the most qualified, he wouldn’t have been here today,” he stated.

 

He advised the new Surveyor-General to serve the State selflessly and honestly, with abiding integrity, so that posterity will remember his legacies forever.

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