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CBN, SEC, Others To Lift Financial Sector With Fresh N1.54tn Investment

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Federal Government Ministries, Departments and Agencies, especially financial services regulators are to invest N1.54tn in five years to boost liquidity in the financial services sector.
According to the Federal Government National Development Plan 2021-2025, the government is planning to raise the liquidity thresholds in each segment of the financial system to the levels that will support the growth and development of the country.
The investment is also expected to strategically optimise all components of the nation’s balance sheet to unlock the liquidity required to support the stability, growth and transformation of the economy.
The Federal Government said it wants the total value of the payments system to be worth 500 per cent of the GDP by 2025, while the total private sector credit as a percentage of the GDP is expected to increase from 13.21 per cent to 25 per cent.
According to the document, the investment of these government institutions will be leveraged to organise and support the private sector to realise the goals of the NDP.
The NDP adds that private operators, such as banks, insurance companies, exchanges, and others in the various segments of the financial sector will be coordinated to invest and achieve their objectives.
Consequently, the Ministry of Finance, Budget and National Planning; Ministry of Industry, Trade and Investment; Infrastructure Concession Regulatory Commission; Central Bank of Nigeria; Securities and Exchange Commission, National Insurance Commission; National Pension Commission, and others have been tasked with raising the amount to raise liquidity thresholds of the financial sector over the five-year period.
The NDP read in part, “Achieving the stated objectives for this sector requires huge investments coming from relevant MDAs and industry players. For instance, core ministries like the Ministry of Finance, Budget and National Planning and the Ministry of Industry, Trade and Investment as well as Infrastructure Concession Regulatory Commission that are directly allocated capital expenditure from the budget will make investments in this sector to achieve the objectives.
“This will occur at the sub-national level. Estimated total public investment to the sector during the plan period is N1.54tn. In addition, the primary regulators of each of the financial sector components will contribute to such investments.
“These agencies include the Central Bank of Nigeria, Securities and Exchange Commission, National Insurance Commission, and the National Pension Commission. Operators in the financial sector will also invest to achieve the goal of the Plan for this sector.
“Some of these players that are government-owned are largely the DFIs, including the Bank of Industry, Development Bank of Nigeria, Bank of Agriculture, Nigeria Export-Import Bank, Infrastructure Bank of Nigeria and Nigeria Sovereign Investment Authority.”
The NDP document shows that the nation will continue to leverage the support of its development partners such as the World Bank, International Monetary Funds, African Development Bank, African Finance Corporation and International Finance Corporation.
According to the Federal Government, the post-COVID-19 economic recovery demands aggressive resource mobilisation for private and public sector investments, adding that a robust domestic financial sector and capital market are very critical as external investment inflows have tightened due to the broader uncertainties in the global economy.

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Don Seeks Funding of Language Centres

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A professor of English linguistics at the Rivers State University (RSU) Nkpolu Oroworukwu Port Harcourt, Prof. Isaac Enyi Ngulube, has advocated for better and improved funding for language centres in Nigeria, such as NINLAN Aba and Nigeria French Language Village, Badagry, for optimum value and effective local languages development.

He also called for funded research on the development of orthographies and language documents across the country to rescue local languages from extinction, as well as having a well-planned and implemented mother tongue education in all institutions in the country, from primary to tertiary.

Prof. Ngulube made with these assertions while presenting his inaugural lecture at the university’s 121st inaugural lecture with the topic “The Career of Rough Beats: Language, Literature and the Development of our Common Humanity” held in Port Harcourt, Wednesday.

The erudite scholar, in the lecture, stressed that the study of English language, linguistics, and literature is very broad, large, and difficult, adding that he overcame the rough roads through resilience and determination.

He described language as “a purely human and non-instinctive means of communicating ideas and emotions,” noting that “the word is a fundamental need in language; you cannot study language without the use of language.”

He urged parents to be cautious with their utterances, warning that “what they refer to their children as is what they will automatically end up becoming.”

He recommended a branded English language for every profession or course of study, stressing that embedding oral literature in the teaching of students from primary to tertiary level will enable them to know their traditions and roots of origin.

“Tell them the folk stories and moonlight tales; you are sending them back to their people. You must be a human being first before becoming a medical doctor, engineer, or anything else,” Ngulube said.

He also called for better and improved production of quality language and literature teachers, provision of modern teaching/instructional materials, improved welfare packages for teachers, and provision of better infrastructure at both primary and secondary school levels.

He used the opportunity to appreciate the Vice Chancellor for the approval of the Department of English Language and Literature, adding that it had been his long-held dream for the university.

In his speech, the Vice Chancellor, Prof. Isaac Zeb-Obipi, while highlighting the lecture, opined that the lecturer x-rayed the lecturer’s journey into the study of English language, linguistics, and literature, describing the field as broad, large, and difficult, but with determination and focus, he was able to defeat the beasts he encountered on his way.

Zeb-Obipi agreed with the lecturer’s recommendations on ways to improve indigenous languages in the country and directed that modalities be worked out for the university to have the Department of English Language and Literature, among others.

He highlighted RSU’s recent victory in the Bilingual Community Project organized by the French Embassy, describing it as proof of the university’s rising excellence in language studies.

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Ogoni Cleanup Programme, Enabling Pathways To Development Of Ogoni – Zabbey

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With significant achievements recorded across thematic areas of the Ogoni cleanup programme being executed by the Hydrocarbon Pollution Remediation Project (HYPREP), the Project Coordinator of the Project, Prof Nenibarini Zabbey, has said that all these are enabling pathways to the development of Ogoniland.

This is coming on the heels of milestone achievements in the following areas and their impact on Ogoni communities. They are mangrove restoration which is 94 percent complete; shoreline remediation which stands at 67.1 percent; and the phase 2 land remediation progressing to 36.55 percent.

Moreso, HYPREP has constructed 14 water facilities, providing potable water to 40 communities. With the commissioning of the water schemes in Bane and Gwara communities, the number of communities with access to clean and safe drinking water will be 45. The process of operationalising the Centre of Excellence for Environmental Restoration (CEER) which is at 92 percent complete, is ongoing. The same for the Ogoni Power Project which is progressing with wayleave compensation and construction works at Bodo and Wiiyaakaara substations ongoing

Similarly, the Ogoni Specialist Hospital and Buan Cottage Hospital are at 76.8 percent and 98.7 percent respectively.

This is alongside other public health interventions and the Human BioMonitoring Survey also in progress.

Under the livelihood
programme, over 7,000 direct jobs have been created for Ogoni women and youths, while over 5,000 have been trained in multiple skills and provided start-up kits, workshops, education grants, scholarships and other empowerment programmes. This quarter, training will commence in other demand-driven skill areas, such as cybersecurity, full-stack development, mud logging, software development, commercial diving, and underwater welding.

Zabbey had reeled out these achievements, during the third quarter interactive session between the Project Coordination Office engagement with Ogoni youths in Port Harcourt on Friday, in line with HYPREP’s strategic stakeholders policy to provide an interface opportunity to abreast Ogoni youths on the Project’s activities, while garnering their feedback.

Zabbey noted that, “This
quarterly engagement was,therefore, designed as an inclusive strategy to ensure that youth voices are heard, concerns are addressed, and progress updates are provided transparently. Also, it reflects our firm belief that a project of this magnitude must be people-centred, accountable, and participatory”.

” I am delighted to inform you that the Project remains on course to achieve its mandate as outlined in the UNEP Report on the Ogoni environment and the official gazette establishing HYPREP. HYPREP is committed to transparency and accountability in the implementation of the cleanup projects and activities”, he said.

He stressed that HYPREP’s achievements are pathways to a better Ogoniland, assuring that the Project’s goals are aimed at benefiting all categories of Ogoni youths, whether in business, farming, advocacy, education, entrepreneurship or community development.

”This Project belongs to all of you, and its success depends mainly on your participation, unity and constructive engagement. And with your support, we are confident that all challenges will be addressed in the overall public interest,” Zabbey said.

The Project Coordinator urged Ogoni youths to continue to support the Project by promoting peace, discouraging misinformation, and collaborating with project teams working in the communities, and address challenges through dialogue, rather than confrontation.

Prof Dinebari Badey, a Professor of Development Sociology in the University of Port Harcourt, delivered the keynote address, linking the nexus between HYPREP and youths in the development of Ogoniland through unity of purpose while Engr Solomon Akere, gave a talk on Ogoni youths in business.

Participants raised questions concerning the maintenance of the water projects, remediation efforts, and compensation for the Right of Way (RoW), among others.

In attendance were management staff of HYPREP who provided responses to the interventions.

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Community Health Practitioners Marks 2025 Week

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Members of the Association of Community Health practitioners of Nigeria (ACHPN),Rivers state Chapter have marked the 2025 Community Health week with a call for the state government to employ more community health practitioners to mann the various health centres across the 23 local government areas of the state .

The theme of one week event “strengthening the Nigerian healthcare system,the role of community health practitioners in reducing maternal and under _five mortality in line with sustainable development goals”attracted community health practitioners across the state.

Speaking at the opening ceremony of the event held at the conference hall of the state primary healthcare office in port Harcourt, the state chairman of the Association,Dr Justina Onuwa appeal to the state governor,Sir Siminalayi Fubara to approve the employment of more community health practitioners in other to effectively mann the primary health centres in the state.

Onuwa stated that the call become imperative following the decline in community health practitioners in the civil service and the need to ensure that the people in rural communities have more access to primary healthcare services in their localities.

The state chairman of ACHPN averred members of the association were not captured in the employment scheme during last employment of medical health workers by the state government.”our people need to be employed like other health care service providers”

She appeal to the state government to provide vehicles and office secretariat for its association and as well ensure that their members are promoted as at when due.

Also speaking,the state Health Educator,Dr Babbo Diana who represented the commissioner for health and Executive secretary RSPHCMB while congratulating them on their celebrations called them to partner with the state government to build more efficient healthcare services in the state.

She urge them to be passionate with their work, stressing that all hands must be on deck and everyone must play their roles in other to ensure the success of government primary healthcare services in the state.

In his good will message,the representative of the state Director of Health planning Research and statistics, Dietician Buduzhi Gift Oguzor described members of the association as foot soldiers of health services care providers in the state.

He called on them to be more dedicated in their responsibilities especially in the areas of infrastructure development, noting that the state of infrastructure under their custody are in a detoriating conditions despite the huge of resources released to them by the state government.

Earlier in her lecture on the theme “strengthening the Nigerian healthcare system,the role of the community practitioners in reducing the under _five mortality in line with the sustainable development goals”prof Alice Nte urge them to review their association curriculum in other to upgrade their profile and become more relevant and attend to the optimum value in the profession.

She opined that the WHO according to the Nigerian Demography survey didn’t included members of the association as stillbirth attendant, adding that they should restrategise and look into their curriculum and see where it can be updated.

The climax of the week long celebrations ended with road work,free medical care services and church thanks service.

Akujobi Amadi

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