Business
Mobil Empowers 40 Women In Onne
A total of 40 women from Onne in Eleme Local Government Area of Rivers State have been given starter Packs to commence business on their chosen fields of trade at the and of a four-week intensive skills acquisition training sponsored by oil giant, Mobil Producing Nigeria (MPN).
The women who were drawn from the four clans of Onne were trained in agro and agro-processing enterprises such as egg production, Snail farming, honey production, Yam, wheat, plantain flour production and fish farming techniques.
Handing over the starter-packs at a brief ceremony at Onne, Wednesday, an Executive Director with Mobil Producing Nigeria, Mrs Gloria Essien-Danner said the programe was aimed at equipping Onne women with economic skills that will make them self employed and employers of labour in years to come.
The Executive Director revealed that the programe was the direct off-shoot of a baseline study for an integrated and sustainable Socio-Economic Rural Development Plan for Onne, adding that the report of that study showed that “about one-third of the house holds are fully managed by women and that women do take care of the provision of basic needs of the household, hence, the need for economic training.”
She reiterated the commitment of mobil producing Nigeria to adding values to its host communities by building capacity of the indigeneous population adding that the company believes that the training of women translate to training a nation.
In his remarks, the Chairman of Eleme Local Government Council who was represented by Hon. Okaka Telewin, Councillor Ward 7, thanked MPN for the gesture and challenged other companies doing business in the area to borrow a leaf from MPN with regard to embarking on programmes and projects that directly impacts the life of the people positively.
Responding on behalf of the beneficiaries, the president of Onne Women Development Foundatin, Mrs Obarijima Padmoore Wawah, thanked MPN for facilitating the programe and disclosed that apart from offering the beneficiaries Micro enterprise skills, it has also challenged and awakened in them the quest to succeed.
“We strongly believe that all of us that have benefited from this programe will be shining examples and inspiration to other women in Onne,” Mrs Wawah said.
The women foundation president recalled that in 2010, MPN Sponsored the training of 48 women in tailoring, tie and dye, catering and computer appreciation and gave the beneficiaries starter packs to commerce business activities in addition to the provision of mosquitoes treated nets to households in Onne.
“It is evident that of the more than 150 companies operating within our community, MPN is the closest to Onne People, especially the women,” she declared.
Items handed over to the beneficiaries included wooden battery cages, feeding and drinking troughs, electrical appliances, day-old broilers and pullets as well as feeds for those trained in poultry production. Those trained in snail farming got concrete pens with wire meash cover, feeder, water cans, breeders stock snail and feeds, while graduates in plantain, wheat, yam flour production had drying materials and equipment, sealing machines plastic sachets, Oven and bunches of plantain.
Dignitaries who graced the occasion included the Port Manager of Onne Port, Alhaji AA. Goje and the paramount ruler of Onne, HRM, J.D. Osaronn and his council of chiefs.
Sogbeba Dokubo
Business
Private sector gets N2.2tr credit in 30 days — CBN
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.
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