Business

When RSG Showcased Investment Oportunities At NBA Confab…

Published

9 years ago

August 30, 2017

The present administration in Rivers State under the watch of Governor Nyesom Wike has never missed an opportunity of promoting and marketing the corporate image of the state in any forum in terms of its boundless investment opportunities.
This is usually done inspite of the hullabaloo and desperate conspiracy of few to the contrary to demark the state to potential investors.
The State Government in its commitment and keeping to its avowal pledge to the people in terms of brining development, dividends of good governance and creating enabling environment for wealth creating seized the singular opportunity at the recently concluded Nigerian Bar Association (NBA) Annual General Conference (AGC) 2017 held at landmark centre, Lagos as a platform to showcase investment opportunities in the state to potential investors.
The event was held on Wednesday, August 23, at the HardRock Café of the Landmark centre. As early as 7am Rivers Lawyers and potential investors had all arrived for the event due to commence by 9.00am.
On the part of the Lawyers, NBA Port Harcourt had initially informed her members that the first 300 lawyers to arrive for the event would receive a special package. This promise the chairman of the occasion and Leader of the Bar in the state, OCJ Okocha, SAN ensured the organizers gave out the items promised without delay.
The event eventually started with the Hall Filled to Capacity., The State Government His Excellency E.N. Wike was unavoidably absent but was ably represented by the State Attoerney General and Commissioner of Justice, Chief Emmanuel Aguma, SAN.
The event became more lividly and excited with the presence of NBA National President, Abubakar Mahmoud and his team, chairman of Zenith Bank Plc, Mr Jim Ovia, Former Governor of Cross River State, Donald Duke and his amiable wife, (a Rivers daughter) Director General of the Infrastructural Concessioning Commission in the Presidency and notable investors.
Governor Wike set the ball rolling by describing himself, the Chief Marketer of the state, stressing further that Rivers State is one of the few pivotal states sustaining the Nigeria nation with its boundless blessings. That the state is truly blessed.
He said that the state has surivived the worst forms of partisan attacks and de-marketing and despite all these attacks, the state continues to not only blossom but to sustain the country’s economy.
He proudly beat his chest that inspite of the state hosting a sizeable proportion of the nation’s oil assets, there have never been any known and reported attack of any of the Nation’s oil assets located in Rivers State under his administration.
He explained that the people of the state are hospitable and that hospitality truly reflects Rivers experience.
The Governor emphasized that his administration is committed to the Nigerian Federation and the large market the federation provides for investment and trade.
He said his administration has achieved a lot within two years due to peace in the state, conceding to the fact that no society is free of crime and assured investors that the security architecture put in place by the state government to protect their lives and investments is solid as nothing is taken for granted.
He Further assured investors that the obnoxious tax regime that had hitherto been a bottleneck for businesses and potential investors had been sanitised, certificates of occupancy, and consents for both land and transactions and mortgages are now obtained with ease.
No doubt, Rivers State is the second largest economy after Lagos in Nigeria. The state is the centre of the oil and gas industry in the West Africa sub region with a total gross domestic product (GDP) of about US $21.07 billion annually, a population of about six million people, has a large area of land under agricultural cultivation including oil palm plantations and a very high literacy level.
Speaking later, the Executive Director, Bureau of Public Private Partnership(PPP) Hon Nimi Walson-Jack Esq told investors that Port Harcourt is being restored to its former glory as the “Garden City” of Nigeria.
Walson-Jack explained that the present administration in the State has under taken ambitious reforms to transform the state.
The reforms were focused on providing and rehabilitating infrastructure such as road networks to facilitate movement and case traffic congestion in the state, hospitals, schools, power facilitates, tax reforms, improved public sector performance and service delivery.
He explained that the state government policy of tax holidays for new industries, (excluding federal taxes,) abundant natural resources and the broadly improving economic infrastructure have all combined to make the state a highly attractive investment destination.
The Executive Director PPP added that the state government has enacted laws through the state House of Assembly to protect investments by the investors, that one of such laws is the Rivers State Public – Private Partnership Participation in Infrastructure Development Law 2009 (PPP Law) with the objectives to strengthen institutional governance, enhance private investments, attract private funds for investments and provide an enabling environment for private sector participation among other objectives.
He stressed that the state government PPP agenda is to create opportunities for the private sector to participate in the Infrastructural Development of the state, increase the value chain in agriculture and other sectors of the economy and seek genuine opportunities for economic growth. He listed the ongoing PPP projects to include Rivers Adama, Riv metal Recycling plant, Raddison Blu Hotel, Riv Taf hold Estate, the Reserve at Golf Estate, Sterling Ridge Estate, Reef Court Estate, Garden City Villa, Ikm Toll Road and other unregistered projects.
Walson-Jack further stated that the state PPP is currently negotiating the following projects, Port Harcourt shopping mall, Songhai Rivers Initiation Farms, Eligmbu poultry farm, poultry farm at Atali, construction of Abattoirs, Housing development, provision of site and services at Greater Port Harcourt City and Golden Jubilee Hostels and Mall. The old zoo at slaughter round about will be turned into amusement park with the building of five stars Hotel there while Greater Port Harcourt hosts the new zoo.
However, without pontification, but with accurate statistical data he said that the present administration of His Excellency E.N. Wike within two years two months in office has signed and issued 680 Certificates of Occupancy (C of O) to not only individuals but corporate organizations and potential investors in the state as compared with the immediate past Administration of Rt. Hon Rotimi Amaechi that signed and issued 461 C of O within the period of eight years.
He said that, this is a great achievement by the present administration to assure investors that their investments are safe.
In his remarks, Jim Ovia, Chairman Zenith Bank Plc said that the state is very very investors friendly, stressing that the per capital income of the indigenes is over $3 dollars as against the national income of $2 dollars per capital.
He said if the state was to been rated as a country, its economy could have be rated favourably among 15 growing economy of countries in Africa such as Rwanda, Kenya and Ghana, adding that the state has abundant talented young well educated personalities.
Ovia who is also the Chairman of the Nigerian Software Development Initiative stated that the state is safe and remains the envy of investors to invest their resources.
He commended the state Governor E. N. Wike for his administration’s determination, commitment, developmental strides, sagacity, boldness and courage to confront the challenging insecurity.
Also speaking Donald Duke Jokingly added that he is the greatest by investor in Rivers State marrying a Rivers daughter.
President of the NBA, Abubakar Mahmoud, SAN also commended the state government for organizing the event to showcase the investment opportunities in Rivers State to investors and urged other states to emulate the state in subsequent NBA activities to showcase their abundant potentials for investors to invest their resources thereby creating wealth and hard currently for such states.
In his remarks, the state Hourable Attorney General and Commissioner of Justice Emmanuel Aguma, SAN, assured potential investors that the state regulatory framework is good and urged them to share in the boundless blessings of the state.
In his closing remarks, Chairman of the occasion, OCJ Okocha, SAN, expressed happiness over the well organized event and assured investors of their safe investments in the state.
Group of lawyers at the event who spoke also commended the State Government for organizing the interaction session to showcase the abundant investment opportunities in the state that will no doubt creates wealth for the state, and job opportunities not only for the lawyers with new clients but the unemployed youths.

Philip Okparaji

Business

Boat Mishap Kills Pastor, Wife And Church Members In Brass Water

Published

5 days ago

May 18, 2026

The Tide

A boat accident in Bayelsa state has killed a serving Pastor, Wife and other church members along Brass waterways

The sad incident happened at Odioama in Brass local government area of Bayelsa State when the Pastor, wife and members of his church were in a programme.

?Tide confirmed that the lifeless body of the Pastor’s wife has been found and deposited in a mortuary while the remains of her husband ,the Pastor is yet to be recovered

as search party are still ongoing.

Although the real cause of the boat Mishap is not yet known as at the time of this report, our Correspondent gathered that the identities of the Pastor, wife and church members were not disclosed to the public.

The mishap, Tide gathered occurred on Friday morning when the church members were on a boat transit

The Bayelsa State government and the state police command are yet to issue official statement’s on the sad accident

By: CHINEDU WOSU

Business

Rivers Workers Seek Scrapping Of Contributory Pension Scheme

Published

5 days ago

May 18, 2026

The Tide

The Rivers State Council of Nigeria Civil Service Union has called on the State Government to urgently scrap the contributory pension scheme, describing it as unfavourable to long-serving civil servants in the state.

Chairman of the union, Chukwuka Osuma, said this in an interview with newsmen in Port Harcourt, recently.

Osuma said the current pension structure has continued to worsen post-retirement hardship for workers.

He noted that the contributory pension scheme had failed to provide adequate retirement security for workers who had spent many years in service, especially those approaching retirement age.

According to him, civil servants who had served for more than 20 years were among the worst affected under the scheme, insisting that many retirees could no longer cope with prevailing economic realities.

He also informed that the Union has made moves to showcase their concerns, pleading with Governor Siminalayi Fubara to abolish the pension policy and introduce a more favourable arrangement for affected workers.

“The union was not opposed to pension reforms, the contributory scheme should only apply to newly employed workers or those with fewer years in service”, he said.

Osuma explained that workers who had already spent decades in the civil service ought to remain under a more secure pension structure capable of guaranteeing stability after retirement.

The labour leader further noted that inflation and the rising cost of living had continued to erode the value of retirement savings, thereby increasing the suffering of pensioners across the country.

He also appealed to the state government to consider extending the years of service in the civil service from 35 to 40 years and the retirement age from 60 to 65 years.

Osuma argued that such adjustment had become necessary in view of present-day economic realities and changing conditions in the workplace.

The unionist also reviewed that similar policies had already been adopted in some sectors and jurisdictions, expressing optimism that the State could also implement the reforms for the benefit of workers.

He however, commended Governor Fubara for approving an N85,000 minimum wage for workers in the state, noting that the amount was above the national benchmark of N70,000.

Osuma also acknowledged the government’s efforts in the area of workers’ promotions and bonuses, but insisted that pension reforms and extension of years of service remained critical to the long-term welfare and stability of civil servants in Rivers State.

By: King Onunwor

Business

FG Begins South-West Tour To Promote New Cooperative Bank

Published

1 week ago

May 13, 2026

The Tide

The Federal Government has launched the South-West zonal engagement and ministerial advocacy tour on the Cooperative Bank of Nigeria share capital mobilisation, sensitisation and cooperative sector digitalisation.

Reports say the initiative was launched through the Federal Ministry of Agriculture and Food Security.

According to reports, the advocacy tour, organised by the ministry’s Federal Department of Cooperatives, began on Monday in Lagos.

Speaking at the event, the Minister of State for Agriculture and Food Security and Supervising Minister of Cooperative Affairs, Dr Aliyu Abdullahi, said the initiative was part of President Bola Ahmed Tinubu’s Renewed Hope Agenda.

Abdullahi described the exercise as a strategic effort to reposition the cooperative sector as a key driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity.

“Today represents a defining moment in our collective determination to reposition the cooperative sector as a major driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity,” he said.

The minister noted the modern cooperative movement in Nigeria originated in the South-West following the 1934 Strickland Report, which led to the enactment of the Cooperative Societies Ordinance of 1935.

According to him, the decision to commence the sensitisation and share capital mobilisation tour in the region is symbolic, as it marks a return to the roots of cooperative development in the country.

Abdullahi said the advocacy tour was a direct outcome of resolutions reached at the 8th Regular Meeting of the National Council on Cooperative Affairs held in Abuja in March 2026.

He said the council approved the Renewed Hope Cooperative Reform and Revamp Programme, a comprehensive framework designed to strengthen the cooperative sector and align it with the administration’s goal of building a one-trillion-dollar economy.

“The reform programme focuses on seven strategic pillars, including governance reforms, cooperative financing and the establishment of the Cooperative Bank of Nigeria, digitalisation, capacity building, value chain development, inclusion of youths, women and persons with disabilities, and strategic partnerships,” he said.

He said the establishment of the Cooperative Bank of Nigeria and the digitalisation of the cooperative sector were the two major transformational initiatives under the programme.

“The Cooperative Bank of Nigeria is aimed at rebuilding a strong cooperative financial system capable of supporting cooperators, farmers, artisans, traders, SMEs, youths, women and persons with disabilities with accessible and affordable financial services,” he said.

Abdullahi emphasised that the proposed bank would be government-enabled but not government-funded.

“Government is not establishing the bank as an owner, nor will it rely on Treasury Single Account funds.

“The role of government through the FMAFS is to provide policy support, stakeholder coordination, regulatory facilitation and an enabling environment under the Renewed Hope Cooperative Reform and Revamp Programme,” he said.

Also speaking, the Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, reaffirmed the state government’s commitment to cooperative sector transformation.

She described cooperatives as critical tools for promoting inclusive growth, grassroots productivity, food security, financial inclusion and community wealth creation.

Ambrose-Medebem said Lagos State would continue to support reforms and collaborate with stakeholders to ensure the successful implementation of the Renewed Hope Cooperative Reform and Revamp Programme (2025–2030).

“Together, let us build a cooperative ecosystem that is modern, transparent, digitally enabled, financially inclusive and globally competitive.

“Let us build cooperatives that not only mobilise savings, but also mobilise prosperity,” she said.