Niger Delta
Bayelsa Pledges Judicious Use Of Loans
The Bayelsa State government has vowed not to misappropriate any loans approved under the administration of Governor Douye Diri.
According to the government, contrary to claims, the state has not received the N10 billion agricultural loan from the Central Bank of Nigeria for the proposed development of the state’s oil palm potentials.
The Commissioner for Finance, Mr Maxwell Ebibai, who made this known at the weekend during the state’s transparency briefing for July and August, said the government had not collected and misappropriated the fund.
The N10billion CBN agric loan was part of the N17billion facility which the state House of Assembly approved in November 2020 for the Diri administration to borrow from multiple sources.
“Also, N4billion would be accessed from Sustainable Development Goals Counterpart Fund, and N3billion as a revolving temporary credit facility with a 12 months’ tenor to fund state financing gap, when there is a shortfall in monthly revenue accruing to the state,” he said.
The governor had in his letter of request for the approval of the House said: “The facility from the Central Bank of Nigeria will aid the state government to develop our oil palm potential, while the Sustainable Development Goals (SDGs) Counterpart Fund is a prerequisite for the state to attract a matching grant under the SDGs.”
Ebibai said during the briefing that there was the need to clear the air in the wake of the claims in some quarters that the government had received the N10billion loan and misappropriated it.
He said: “As citizens of Bayelsa State, we agree that it is the right of every citizen to make constructive criticism and where people are not cleared with certain facts, it is appropriate that we seek clarification.
“The state government has not collected the N10billion loan for agric palm, plantain, and cassava and rice cultivation. Let us not go around raising issues about money that has not been collected.
“Money that has not been received or collected cannot be misappropriated. This can be checked with the Central Bank of Nigeria, if they have availed Bayelsa State of those facilities.
“This current government is too responsible to collect N17billion loan from the CBN and not do anything with that money.”
He added: “Let it be clear that, the government of Senator Douye Diri is too responsible to collect loan from the CBN and not do anything with that money. This government is focused and we owe the citizens of the state to apply whatever fund we received in the most transparent manner possible. Nothing has been received and nothing has been spent.’
News
China Alerts Rivers, A’Ibom, Abia Govs To Economic Triangle
The Mayor of Housing, My-ACE China, has alerted the Governor of Rivers, Akwa Ibom, and Abia states to what he calls an emerging ‘Economic Triangle’ within their states.
Mr China, a real estate success strategist who has won numerous local and international awards, has thus drawn the attention of the governors of the concerned states to the emerging development and has urged them to intentionally accelerate the emergence of the economic triangle.
Speaking to newsmen in Uyo, Akwa Ibom State capital at the conclusion of his business trip to the state, Mr China, who is the managing director of the Housing and Construction Mayor Limited, said the envisaged economic corridor would compete favourably with the Lagos economic hub or even better.
He said: “Talking about ‘Economic Triangle’, the only place that can wrest economic power from Lagos is Akwa Ibom, Abia, and Rivers states axis or corridor. This corridor contains more than Lagos has, if they can be interconnected with smooth roads, ports, and if their blue potentials are unlocked. They will not only wrest power from Lagos but would be more lucrative.”
The investor who is behind the emerging Alesa Highlands Green Smart City in Eleme, near Port Harcourt, said the new ‘Economic Triangle’ has a bigger potential due to massive land assets with the corridor plus blue economy and the existing hydrocarbon industry.
Explaining, Mayor of Housing said Aba (Abia State) provides the biggest fabrication capacity in West Africa to supply goods to the Gulf of Guinea; Port Harcourt provides access to the Gulf of Guinea for off-taking Aba products, and the Uyo provides deep sea port at Ibaka and international airport facilities as well as forest reserves for massive agro-economy.
He said with sea ports in Rivers State and deep seaport in Akwa Ibom, and international airports in Rivers and Akwa Ibom, Aba can focus on adequate power supply and fabrication boom to supply a new booming market around the economic triangle.
By doing this, he said, jobs would spill out in huge quantities and more manufacturers would be drawn from all over Africa to boost the fast coming African Continental Free Trade Agreement (AfCFTA). He said Nigeria would thus have two major trade nodes in West Africa; Lagos and the PH/UYO/Aba triangle.
He said goods going to or coming from Chad, Niger, and the rest of Central Africa can head to the Lagos ports or to the Ibaka/PH ports zone in the new economic triangle.
He said with power supply made stable, good roads, excellent security system, and ease of doing business enthroned in the zone, the South-South and South East would become the biggest economic nerve in the near future.
Mayor of Housing called on governors of the three states to be intentional about the new corridor, put away political differences (if any), and create this corridor by agreeing on projects each state would execute with a short period of time so the states would be linked by good roads, communication, security, trade laws, concessions to investors, etc.
He remarked that northerners were already heading to the Onne Port in Rivers State to export goods, saying creating a commission to oversee the development of the ‘Economic Triangle’ would fast-track its emergence.
He observed that people of the three states are peaceful and usually preoccupied with zeal for economic prosperity, saying that if they are linked to such huge opportunities staring at them in the emerging economic triangle, they would totally shun violence and focus on prosperity.
Mr China insisted that the emerging economic triangle would form a big node not only into the Gulf of Guinea economic zone but into Africa because AfCFTA is about production, certification, market availability, and easy transport nodes by sea and air. He said the new economic triangle boasts of all the factors.
“They can only realise this by working together, through collaboration. One state cannot do it but a triangle of the three will create it through seamless interconnection, ports, industrial park, etc. The people will be the richest and internally generated revenue (IGR) will be the biggest in the country,” he said.
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