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RESIDENCY TRAINING: FUBARA PAYS OVER N300M GRANT IN TWO YEARS FOR 389 DOCTORS

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Rivers State Governor, Sir Siminalayi Fubara, has approved the release of over N300million as grant to 389 medical doctors in the State Civil Service who are on residency training.

The released fund will cover two consecutive years – 2023-2024 –  Residency Training Grant requirements with payments ranging from N800,000 to N900,000 per resident doctor for each year.

A total of 215 resident doctors received the funding for the year 2023, while 174 resident doctors have so far received the training grant in 2024 in the State.

With this milestone, the administration of Governor Siminalayi Fubara has set a new record in the healthcare funding as residency training grant has only been paid twice in the past 16 years, with the last paid in 2018.

By this strategic action, Governor Fubara, has recommitted the resolve of his administration towards ensuring that the training initiative aimed at supporting the professional development of doctors, at both the Junior and Senior residency cadres, is not frustrated due to absence of the requisite grants that serve as enduring incentives to the health personnel.

It also shows that Governor Fubara considers such comprehensive support for residency training as strategic investment in improving the capacity of healthcare personnel which will eventually enhance the quality of healthcare services available to Rivers people in the health sector.

Governor Fubara particularly expressed the belief that with such support from his administration, the benefitting medical doctors will be dutiful with the residency training, which is an essential stage of graduate medical education, to acquire the competence needed to enable them offer the best service while working in the employ of the state government.

Reacting to the groundbreaking achievement, Hon Commissioner for Health, Dr Adaeze Chidinma Oreh, acknowledged the importance of the course updates and components to the capacity of the personnel to address the challenges in quality healthcare delivery in the State.

Dr Oreh said: “These are essential for doctors to stay current with the latest medical knowledge and practices, ensuring they can provide the best possible care to patients.

“Research is a critical component of medical training, and these funds help cover the costs associated with developing and presenting research proposals and dissertations.

“Also, travelling to examination centres can be costly, especially for doctors stationed in various parts of the State. For these examinations which are usually held outside the State, and in some cases, outside the country, this funding ensures that transportation costs do not hinder their ability to attend necessary examinations,” she added.

Dr Oreh further spoke on the  burden examination fees pose on medical personnel, saying: “The examination fees for the Parts I and II residency exams are very expensive, and by covering these fees, the government ensures that financial constraints do not prevent doctors from advancing in their careers.”

She thanked the Governor for paying priority attention to the welfare needs of personnel in the health sector, explaining that the Governor’s proactive action and political will to address critical issues that impede human capacity development was worthy of emulation.

The commissioner emphasised that the gesture of Governor Fubara, barely one year in office, will ultimately yield better health outcomes for Rivers people in particular and Nigerians at large.

City Crime

RSG Ready For 2030 Digital Transformation

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The Permanent Secretary, Rivers State  Information and Communications Technology (ICT) Department, Mrs. Elizabeth Akani, has said the State Government was set to meet up the 2030 target of the Federal Government towards the actualization of digital economy.
Akani said this at the Rivers State Sensitization Workshops on The Adoption of Nigeria Start-up Act and National Digital Literacy framework (NDLF), in Port Harcourt, weekend.
She noted that the State was ready for both the adoption and domestication of the Act.
According to her, up to 90-95% preparation have been fully covered by the state in readiness to welcoming the digital economy Act.
“Stakeholders talked about adoption and domestication of the Act, it was fruitful. The draft has been sent to the government”, she said.
She also noted that the move was in line with the digital transformation plan of the state and the country at large.
The Convener, Start South, Mr. Uche Aniche, who made case for full ICT Ministry for the state, said such will command the needed growth in the system.
Aniche stated that until they attained the lofty height, all about Tech-knowledge and growth may not fall in place as expected.
Other tech-operators, such as the Code Garden Chief Executive Officer, Mr. Wilfred Wegwu, who welcomed the idea, said it must be done in the nearest future.
Wegwu noted that technology has taken over the world at present, adding that government at all levels needed to key into the system.
He also stated that the system play major roles in various spheres of life, including relationships and collaboration.
He also revealed that the system now was up to forth Industrial Revolution (4IR), according to global shift ranking.
It will be recalled that the State Government has recently ordered to construct ICT centres across the 23 Local Government Area of the state in order to meet up the yearnings of the technology world.
By: King Onunwor
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Industry Braces For Glut And Investor Demands

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The oil and gas industry is in for a tough year ahead, as it must balance financial discipline, shareholder returns, and long-term investments in the sustainability of the business—while navigating a hypothetical glut.
The warning comes from Wood Mackenzie, which said in a new report that the industry was faced with conflicting trends over the next year that would make decision-making challenging. Among these is an expectation that the market would tip into an oversupply, pressuring prices, while the demand outlook for oil over the long term brightens up, motivating more investments.
“Oil and gas companies are caught between competing pressures as they plan for 2026. Near-term price downside risks clash with the need to extend hydrocarbon portfolios into the next decade. Meanwhile, shareholder return of capital and balance sheet discipline will constrain reinvestment rates,” Wood Mackenzie’s senior vice president of corporate research, Tom Ellacott, said.
The executive added that investors would also influence decisions, as they continue to prioritize short-term returns over long-term investments. This last part, at least, is not unusual in the current investment environment across industries. It could, however, make life even more difficult for oil and gas companies for a while.
The glut that Wood Mackenzie analysts expect is the same glut that the International Energy Agency has been expecting for a while now. Yet that very same International Energy Agency earlier this month issued a warning on the longer-term security of global oil supply, saying the industry needed to step up investment in new production because natural depletion at mature fields was progressing faster than previously assumed.
Per the report, if the industry has to maintain current levels of oil and gas production, more than 45 million barrels per day of oil and around 2,000 billion cu m of natural gas would be needed in 2050 from new conventional fields. It’s worth noting that this is maintenance of current production levels, assuming demand will not rise, which is a risky assumption.
Even with projects ramping up and new ones approved for development and not yet in production, a large gap still exists “that would need to be filled by new conventional oil and gas projects to maintain production at current levels, although the amounts needed could be reduced if oil and gas demand were to come down,” the IEA said.
However, demand could just as well increase, heightening the degree of uncertainty in the industry and making long-term planning even more challenging—especially for companies with higher debt-to-equity ratios. Wood Mackenzie expects those with gearing of above 35% would prioritise resilience over long-term growth, while those with better debt positions would turn to divestments and asset acquisitions to improve the quality of their portfolio.
Share buybacks will also remain on the oil industry’s table as a favorite tool for making shareholders happy, although, Wood Mac notes, these tend to dry up when oil slips below $50 per barrel. Interestingly, the analytics company does not seem to factor into its analysis a scenario where prices might go up instead of down, especially now that President Trump has signaled he would be willing to step up pressure on Russia to bring a swifter end to the war in Ukraine.
If prices do rise, for whatever reason, including failure of the massive 3-million-bpd glut that the IEA predicted to materialize, then the immediate outlook for the oil and gas industry becomes different—but not too different. Companies have already demonstrated they would not return to their old ways of splurging when times were good and tightening belts when times were bad. They would likely stick to spending caution and shareholder return prioritization, regardless of prices.
By Irina Slav
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ECN Commences 7MW Solar Power Project In AKTH

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As a landmark intervention designed to guarantee uninterrupted electricity supply, the Energy Commission of Nigeria (ECN), has commenced a 7MW solar power project at the Aminu Kano Teaching Hospital (AKTH)
The project is the outcome of ECN’s comprehensive energy audit and strategic planning, which exposed the unsustainable cost of diesel and the risks associated with AKTH’s dependence on the national grid.
Working in close collaboration with the Federal Ministry of Innovation, Science, and Technology under the coordinating leadership of Chief Uche Nnaji, the ECN planned and executed this critical project to secure the hospital’s energy future.
The Director – General, ECN, Dr. Mustapha Abullahi, said “the timing of this intervention could not be more crucial” recalling that only days ago, AKTH suffered prolonged power outages that tragically claimed lives in its Intensive Care Unit.
“That painful incident has strengthened our resolve. With this solar installation, we are ensuring that such tragedies are prevented in the future and that critical medical services can operate without fear of disruption”.
Abdullahi stated that the project is a clear demonstration of the Renewed Hope Agenda of President Bola Ahmed Tinubu in action and reflects ECN’s commitment to making Nigeria’s energy transition people-centered, where hospitals, schools, and other essential institutions thrive on reliable, clean, and sustainable power.
The ECN boss further reaffirmed ECN’s commitment to continued deployment of innovative energy solutions across the nation.
“This is not just about powering institutions; it is about saving lives, restoring confidence, and securing a brighter future for Nigerians”, he stated.
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