Business
UPTH Road Rehabilitation Excites Users
Commuters and other
users of the road leading to the University of Port Harcourt Teaching Hospital (UPTH) have commended the on-going construction work on the road.
The Tide gathered that construction work on the road, which started last week, is being undertaken by the Federal Government, through the Niger Delta Development Commission (NDDC).
It could be recalled that the bad state of the road was part of the reason resident Doctors went on strike.
They had complained that robbery cases increased during the period as a result of the bad road leading to the hospital.
Speaking to newsmen on the development, the Public Relations Officer of the hospital, Kem Elebiga, appreciated the Federal Government for constructing the road.
He expressed the hope that the Federal Government would be able to address all other issues that are presently affecting the hospital.
“I appreciate what the Federal government is doing, through the NDDC to fix the road which has negatively affected commuters and other road users”, he said.
He said the road construction would go a long way in addressing the discomfort experienced by road users, especially patients to the health institution.
“The bad state of the road particularly affected patients who in their fragile conditions should not have been allowed to go through a road that was in such sorry state.
“We also believe too that in other areas, the Federal government will be able to help us improve services in the hospital.
In a related development, Rivers State Governor, Barr. Nyesom Wike, has assured that businesses would not be affected by the reconstruction of the Bille, Bonny and Nembe waterside jetty in Port Harcourt.
Governor Wike gave the assurance recently during the formal Flagg-off of reconstruction work on the jetty.
He assured while addressing the crowd that those doing business there would not be driven away.
“All those that have been here before will not be driven away by anybody because you are the owners of this place”, he said.
The governor assured them that the intention of government as to construct the jetty to a reasonable standard.
“What we want to do is fix the jetty properly so that when we are through, the motor park and shops will be given a facelift.
“This will create an enabling environment water for travelers and other people doing business in and around the jetty”, he said.
He further called on the traders to give maximum support to the company handling the project even as he called on the company to engage them in some of the needed labour aspect of the project.
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
