Rivers
PHCCIMA Breaks Down Rivers 2025 Budget
The Port Harcourt Chamber of Commerce, Industry, Mines and Agriculture (PHCCIMA) has given its breakdown of the Rivers’ 2025 budget.
The PHCCIMA President, Dr. Chinyere Nwaoga, gave the breakdown in a statement on Tuesday, saying the budget will unlock trapped N500 billion tax revenue from trapped or recovered assets.
She recalled that PHCCIMA had on December 31, 2024 lauded the appropriation bill of 2025 as presented by the State Governor, Siminalayi Fubara, and promised to analyse the budget.
“We promised to analyse the budget and share our position after extensive research and analysis.
“We set up a think-tank committee to review the monetary policy with the private sector practitioners and we have come up with a position”, she said.
Nwaoga noted that the 2025 total budget approximates N1.2 trillion to be N388 billion higher than the 2024 figure of N800 billion.
However, she noted that when adjusted for inflation, “the Net Present Value of the current budget is approximately N1.1 trillion”.
She explained that the naira’s depreciation by 90 per cent year-on-year from January 2024 has reduced the budget’s net value to about N700 billion.
According to her, this further illustrates how the fiscal policies at the centre can impact even the best run states.
She commended the Rivers government’s plan to spend N678 billion on capital expenditure, which is roughly 30 per cent more than the operating expenditure.
“The plan to allocate N31 billion to Agric and support programmes for youths posits a strategy for genuine empowerment”, she stated.
The PHCCIMA President also advised the government to create a credible youth and women database for articulated disbursements and monitoring.
She said: “There may be need to update or recreate a strategic state wide enumeration targeted at Rivers State population”.
Nwaoga also suggested that the government should consider allotting a percentage of accrued funds to an investor guarantee programme to attract investment funds aimed at commerce.
She noted that “the policy to explore counterparty funding with the Universal Basic Education (UBE) to support education is smart”.
The PHCCIMA boss commended the government’s plan to source and save funds for the budget through various means, including FAAC, IGR, statutory allocation, mineral funds, VAT, refunds, and others.
According to her, the budget demonstrates financial prudence and less emphasis on bank borrowing.
She suggested that the government should re-enact the Rivers State Statutory Savings Account and ensure that assets do not deplete in value.
Nwaoga recommended that “we estimate an additional N100 billion, and the expansion of the under-declared and undeclared revenue sources with corporates”.
She stressed the need for the government to emphasise attracting new investments and unlocking value from existing assets.
“Rivers State Government should emphasise attracting new investments and unlocking value from existing assets”, she said.
She, however, urged that the government should continue to pursue clearing the backlog of pension liabilities and consider implementing a revised salary structure to motivate the workforce.
A former supervisory councillor for Health in Etche local government of Rivers state, Eld Chimezie Ogbu has been honoured with an excellent service Award by the Adventist men Organisation (AMO), Port Harcourt west mission.
Eld Chimezie Ogbu, received the award for alongside fifteen others for his contributions and support to the association and uplifting humanity.
Elder Chimezie Ogbu left receiving the Rivers west mission AMO Excellent Service Award from the former AMO Director and the former General manager, RSNC, Eld Vincent Ake during the extra ordinary meeting of AMO held at Rumuolumini, Sunday.
Speaking during an extra ordinary and end of year meeting, the Director of Adventist men Organisation, Port Harcourt west mission, Dr Sam Emejuru said the award was in recognition to Hon Ogbu’s contributions and support to the association, noting that Eld Chimezie Ogbu have been one of the sponsors of the Association in the mission.
Dr Emejuru who was a fomer chairman of the state secondary school Board noted invaluable contributions of the recipients to the association and the church at large and urged them to continue to be generous in the development of church and humanity.
In an interview with the tide, Hon Chimezie Ogbu, a serving elder in the seventh-day adventist church, Rumuolumeni District expressed appreciation to the Association, adding that the award will encourage him to do more
He highlighted the importance of investing in God’s vineyard and to help humanity and dedicated the award to God Almighty and members of his family.
Members of landlords of Ceenamore and Iroko Drives in Cedarwood Estate, Rumuaholu, in Obio/Akpor Local Government Area of Rivers State, have urged the Inspector General of Police and the State Police Commissioner, CP Olungbenga Adepoju, to urgently act on the petition they sent to him regarding the alleged move by the Managing Director of Niger Delta Technology & property development Ltd, Engr. Stephen Nyegwa, to demolish their estate.
The group alleged that the MD of Niger Delta Logistics Limited had purportedly, through a court judgment notice, claimed that he had gotten an order to demolish the estate.
Speaking to journalists at the estate, Mr. Manuabuchi Elem Chioma, one of the affected landlords, said the call becomes very imperative following the continued harassment by Mr. Nyegwa and his associates, noting that they woke up and discovered that their houses have been marked for demolition.
Also speaking, Barrister Victor Okezie urged the police to act swiftly to save landlords of the estate from the impending problem, stressing that they are ready to comply if there is a confirmed valid court judgment.
Nigeria Liquified Natural Gas (NLNG) and the Nigerian Content Development and Monitoring Board (NCDMB) have inaugurated an ultra-modern, specialised Information and Communication Technology (ICT) centre in Port Harcourt, Rivers State, for youth empowerment in innovations.
The fully equipped ICT centre, located at Baptist High School in the city, was inaugurated as part of the close-out ceremony for the Human Capital Development Basic Training Programme.
Executive Secretary, NCDMB, Mr. Felix Ogbe, stated this in a statement issued on Friday by the Manager of Corporate Communication and Public Affairs at NLNG, Mrs. Anne-Marie Palmer-Ikuku.
He described the ICT centre as a gateway to knowledge and innovation, as well as a window to future opportunities.
Represented by the organisation’s General Manager of Institutional Strengthening, Mr. Olugbenga Sheba, Ogbe explained that the project was designed to equip young Nigerians with digital skills to prepare them for a technology-driven world.
“The remodelled ICT centre is more than a building. It is a statement of belief that students here can learn coding, design, and innovation that connects them with the wider world.
“It represents our confidence that when given the right tools, Nigerian students can become creators, innovators, and entrepreneurs”, he said.
Ogbe commended NLNG for its continued collaboration with the NCDMB and its steadfast commitment to advancing Nigerian Content objectives.
He added that the partnership demonstrated what could be achieved through meaningful collaboration between government and corporate stakeholders, noting that such investments would help build a stronger and more prosperous Nigeria.
NLNG’s General Manager, External Relations and Sustainable Development, Dr. Sophia Horsfall, reaffirmed the company’s commitment to compliance with Nigerian Content regulations and its dedication to improving lives sustainably.
She emphasised that NLNG was passionate about enhancing human capital development and promoting technological inclusion, both of which were aimed at improving employability and industry-relevant skills among young Nigerians.
According to Horsfall, the project aligns with NLNG’s vision of empowering communities through education and technology.
“The upgraded ICT centre, which complies with existing NCDMB regulations, is an investment that provides students with a modern learning environment and equips teachers with improved tools to deliver quality education”, she said.
The Tide reports that the ICT centre has been upgraded to a 40-seater facility and equipped with 20KVA solar and inverter system.
The facility also includes renovated classrooms and administrative buildings, as well as digital smart boards and modern learning tools.
Meanwhile, Palmer-Ikuku, in the statement, announced the graduation of 30 trainees under the Human Capital Development Basic Training Programme jointly organised by both organisations.
She stated that the trainees earned international certifications after completing rigorous training in Engineering, Marine Operations, Health, Safety and Environment (HSE), and Entrepreneurship, among other disciplines.
According to Palmer-Ikuku, the training underscores the shared mission of NLNG and NCDMB to build local capacity, promote technological inclusion, and support Nigeria’s broader vision of sustainable development through education and skill acquisition.
By: Theresa Frederick & Charity Amiso
