News

Nigeria’s Revenue Very Low, Can’t Fund Infrastructure Dev, IMF Confirms

Published

6 years ago

October 16, 2019

The International Monetary Fund (IMF) has said Nigeria currently has one of the lowest revenues in the world.
The IMF said this is particularly so because of the drop in oil prices and poor revenue base in non-oil sectors.
The Chief of the World Economic Studies Division of the IMF’s Research Department, Oya Celasun, gave the indication, yesterday, during the public presentation of the World Economic Outlook at the ongoing World Bank/IMF annual meetings in Washington DC.
Nigeria has been battling with budget deficits year-on-year even as it funds almost half of annual budgets on borrowings – locally and internationally.
The IMF also said per capital income for Nigeria still remains largely week.
She also said the CBN forex restrictions were limiting investments into the Nigeria’s economy.
The IMF also noted that though there was a slight positive growth projection for Nigeria this year, but it was not sufficient to turn per capital growth into positive.
There was slight upward review for growth this year, the IMF said, adding that the growth came mostly from strong agricultural production early in the year but not quite enough to turn per capital growth into positive.
For some time now, we have been emphasising the need for comprehensive package to lift growth, Celasun said.
“One element of that will have to be strong non-oil revenue mobilisation.
“Nigeria has one of the lowest revenue in the world and this is hit hard by drop in oil prices” she explained.
“It is essential for the country to spend more on priorities like social safety and Infrastructure. Other area is the need for tight monetary policy and unified exchange rate. A restricted exchange rate has been distorting private and public sector decisions and cutting back investments,” she noted.

News

HYPREP Tightens Security At Project Sites

Published

4 hours ago

November 30, 2025

The Tide

Following the rupture of the ground tank of its water facility in Ebubu Community in Eleme Local Government Area of Rivers State, the Hydrocarbon Pollution Remediation Project (HYPREP) has tightened security across all its project sites in Ogoniland.

HYPREP, which dropped this hint in a statement signed by its Head of Communications, Dr Enuolare Mba-Nwigoh, said the Project Coordinator, Prof Nenibarini Zabbey had given the directive for security to be tightened across all its project sites in Ogoniland.

Mba-Nwigoh noted that the tightening of security across the project sites has become necessary to forestall interference with the facilities.

He further disclosed that following the rupture of the ground tank of the Ebubu water facility, a team led by HYPREP’s Director of Technical Services, Prof Damian-Paul Aguiyi has visited the scene of the incident to assess the situation, stressing that the water facility has been cordoned off for public safety.

The statement indicated that following the incident, HYPREP has henceforth barred non-project personnel and non-facility staff from gaining access into any of its active project sites in Ogoniland without authorisation.

While appealing to residents of Ebubu Community and the public to remain calm, the Head of Communications assured them that the Project is taking prompt steps to restore water to the community, saying, the cause of the unfortunate incident is being investigated.

He equally noted that the Chief Security Officer of HYPREP has been directed to immediately tighten security across all its project sites in Ogoniland.

The statement said HYPREP is deeply concerned about the incident, stressing that despite the setback, the Project reiterates its commitment to delivering sustainable cleanup in Ogoniland.

News

198 UNIBEN Students Bag First Class

Published

7 days ago

November 24, 2025

The Tide

A total of 198 students of the University of Benin (UNIBEN ) Edo State, bagged a First Class degree out of 14,083 students to be awarded first degree at the institution’s 51st Convocation and Founder’s Day ceremony.

Vice Chancellor of UNIBEN, Prof. Edoba Omoregie, disclosed this on Monday in Benin at a pre-convocation press briefing.

He said 4,217 students bagged a Second Class Upper, 7, 928 got a Second Class Lower, while 578 bagged a Third Class degree.

He said 15 new approved programmes by the National Universities Commission (NUC) would commence in the 2025/2026 academic session.

According to him, “The wheel of progress is on course and moving steadily in the University of Benin. This administration is poised to deliver on its mandate of effective, practical teaching, sound learning, result-oriented research and impactful community service.

“We must applaud the President Bola Ahmed Tinubu, for establishing NELFUND, and by so doing significantly reducing the financial stress of students in the process of acquiring tertiary education. We enjoin students and their parents to take full advantage of the federal government’s benevolence in instituting the fund.”

Prof. Omoregie disclosed that Nigeria’s Minister of Regional Development, Engr. Abubakar Momoh, would deliver the Founders’ Day lecture with the topic, “Reforms for a Shared Prosperity”.

The UNIBEN VC said Director General of the Nigerian Institute of International Affairs and Former Vice Chancellor of Igbinedion University, Okada, Edo State, Professor Eghosa Osaghae, would deliver the Convocation Lecture on the theme, “Making Our Universities Great”.

News

Bayelsa Education Fund, British Council trains tra 1,000 teachers

Published

7 days ago

November 24, 2025

The Tide

The last batch of 400 public school teachers in Bayelsa State on Monday commenced training under the sponsorship of Bayelsa Education Development Trust Fund (EDTF) and the British Council.

This batch will bring to 1000 the number of public school teachers in the state who have benefited in the partnership arrangement.School supplies

The EDTF, British Council and Teachers Training, Registration and Certification Board collaborated in the capacity development programme.

Speaking at the opening ceremony of the five day capacity building program, Commissioner for Education Dr Gentle Emelah reiterated the commitment of the Bayelsa government to training and capacity of teachers in the state.

He noted that the improved teaching methodology in the state was responsible for the state producing the best student in the 2025 West African School Certificate Examinations.

Prof Ebimiowei, Executive Secretary at EDTF, noted that the collaboration is aimed at improving learning outcomes for pupils and students of public primary and secondary schools in Bayelsa.

“You will agree with me that until the cutlass is sharpened, it will have no impact on the hands of the farmer and so it is with our teachers., you need to be sharpened very well to give good delivery in your various classes and schools.

“Let me at this juncture appreciate the British Council for accepting to train 1,000 teachers, 50 education managers and 60 trainers for Bayelsa,” he said.

On his part, Chairman of the EDTF board, High Chief Fidelis Agbiki expressed appreciation to the Commissioner for Education Dr Gentle Emelah for his supportive role to the fund.

Agbiki urged the beneficiaries to justify the enormous resources invested by the government of Bayelsa by being dedicated within the five days the exercise would last.

He said; “This board will not operate on business as usual but on business unusual as we will push the frontiers outside the box to ensure that we get value for money,” Agbiki said.

Chairman of Development Partners Committee of the EDTF applauded the commitment of the partners for the successful completion of the programme, urging them to sustain the tempo

Speaking on the programme, Mr Fwanshishak Daniel, Head, English and Schools, British Council noted that the Bayelsa government had shown exemplary commitment to educational development.

He explained that the commitment has enabled the British Council and Bayelsa government to achieve within one year greater milestones that took other states three years to achieve.

He explained that the resources of the British Council have been made available to Bayelsa with the training of 60 resource persons from the state who will in turn train other teachers to improve education.

According to Daniel, the training will lay emphasis on new teaching methods, use of digital tools for self development and access to school amongst others.

Dr Peremoboere Ogola, Acting Chairman of TTRC, which facilitated training, thanked the EDTF for supporting training of teachers in Bayelsa with world class resources of the British Council.

She noted that another batch of newly recruited teachers are currently undergoing training at State government owned University of Africa, Toru Orua, Sagbama LGA in Bayelsa