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RSG Approves Access To N15bn CBN Infrastructure Fund
Rivers State Executive Council has given approval for the state to access N15billion facility from the Central Bank of Nigeria (CBN) Infrastructure Fund, in order to accelerate the completion of three critical projects.
The three major projects are the Oyigbo-Okoloma Road; Chokocho-Igbodo Road and construction of the 10th flyover by Governor Nyesom Wike’s administration at Rumuokwurushi-Elimgbu.
Briefing journalists at the Government House, Port Harcourt after the Executive Council meeting, last Wednesday, the Commissioner for Finance, Hon Isaac Kamalu, said the state government felt that one way it could fast track the completion of these projects will be to access the CBN Infrastructure Fund, considering that the facility has a very low interest rate of 5percent.
“Council in her deliberations at the Executive Council meeting today (Wednesday) approved that the Rivers State Government should access the Central Bank of Nigeria Infrastructure Support Facility to the tune of N15billion.
“This will be utilised as further support for the critical infrastructure that the state is embarking and presently prosecuting, which are the Chokocho-Igbodo Road in Etche Local Government; the Oyigbo-Okoloma Road in Oyigbo Local Government Area and the Rumuokwurushi-Elimgbu flyover.
“You will recall that prior to now; the Rivers State Government had accessed funds for these projects. However, these funds even if put together will not be able to accomplish these three critical projects mentioned. And so, government felt that one way it could fast track the completion of these projects will be to participate in this Central Bank Infrastructure Facility, considering that the facility has a very low interest rate of 5percent, repayable within 20 years with three years moratorium.”
Kamalu expressed optimism that the N15billion facility will be very good support to ensure that these projects are delivered on time and serve the interest of the state.
The council also took the decision to recover dilapidated government quarters from civil servants and illegal occupants within Old and New Government Residential Area (GRA), Port Harcourt, and reallocate them to competent private individuals.
The Commissioner for Information and Communications, Pastor Paulinus Nsirim, explained that the council took this decision because some of these properties were fraudulently acquired by retired civil servants through dubious processes of allocation and sale.
According to him, some of these government properties also fell into utter deterioration due to the abject neglect and lack of maintenance by the occupants.
“The properties were totally in uninhabitable condition and were converted into commercial and business uses; in some cases, they were sublet to private tenants, as well as the use of the premises for poultries, fish ponds, barbing saloons, and other unauthorized uses.
“The Task Force set up by the Rivers State Government to look into this matter found out that some of these properties were found to be under illegal occupants by non-civil servants, some of whom are non-indigenes.
“This has, therefore, necessitated the recovery of these properties as part of government’s urban renewal programme, with the civil servant – occupants being reallocated to alternative private properties through financial support provided by the state government.”
Nsirim said the recovery of these properties and their subsequent reallocation will form part of the first phase of the ongoing urban renewal programme of the Rivers State Government within the Old and New GRA, Port Harcourt.
The Administrator of Rivers State, Retired Vice Admiral Ibok-Ete Ekwe Ibas, has assured the commitment of Rivers State government to workers’s welfare and industrial harmony in Rivers State.
The Sole Administrator gave the assurance after meeting with leadership of organized labour unions at the Government House, Port Harcourt on Wednesday.
Ibas reaffirmed government’s policy of prompt payment of salaries and pensions to workers and retirees, stating that all local government employees are not receiving the approved minimum wage.
He disclosed that approval has been given for payment of newly employed staff at Rivers State University Teaching Hospital and the Judiciary, while medical workers in Local Government Areas will now receive correct wages.
Ibas explained that, Government is reviewing implementation challenges of the Contributory Pension Scheme ahead of the July 2025 deadline, adding that Intervention buses have been reintroduced to ease workers’ transportation ,with plans to expand the fleet.
He said specialized leadership training for top civil servants will commence within two weeks, while due consideration is being given to implementing the N32,000 consequential adjustment for pensioners and clearing outstanding gratuities.
Ibas commended Rivers State workers for their dedication to service and called for sustained partnership with labour unions to maintain industrial peace.
“This administration recognizes workers as critical partners in development. We remain committed to addressing your legitimate concerns within available resources,” he stated.
The State NLC Chairman, Comrade Alex Agwanwor, thanked the Administrator for the steps taken so far with regard to workers welfare while appreciating his disposition towards alleviating the transportation problem faced by workers.
He also expressed appreciation for the government’s openness to dialogue and pledged continued cooperation towards achieving mutual goals.
The Rivers State Government assured all workers of its unwavering commitment to their welfare and called for continued dedication to service delivery for the collective progress of our dear State.
The Nigeria Labour Congress (NLC), Rivers Council, has called for policies that will improve the economic situation of the country in order to ensure enhanced living standard for workers.
The State Chairman, Mr Alex Agwanwor, made the remark on behalf of the unions affiliated to Labour Congress during the 2025 workers day celebration in Port Harcourt, yesterday.
Agwanwor highlighted the demands of the Unions which included the immediate payment of pension arrears, implementation of the N32,000 minimum wage for pensioners, and payment of gratuities and death benefits without further delay.
“We are calling for the regulation and protection of e-hailing drivers, implementation of increments and promotions, and resolution of long-standing issues in the polytechnic sector,” he said.
Agwanwor on behalf of the unions appealed to President Bola Tinubu to reinstate the democratically elected Governor, Deputy Governor, and members of the Rivers State House of Assembly.
He stressed the importance of democratic governance and good working relationship with elected representatives.
According to him, the unions expressed disappointment over the imposition of taxes, increase in electricity tariff, and high cost of goods and services, which have further worsened the plight of workers.
“We urge the federal government to take measures to alleviate the suffering of citizens,” he said.
Vice-President Kashim Shettima says President Bola Tinubu is committed to unlocking Nigeria’s full potential and position the country as a leading force on the African continent.
Shettima stated this when he hosted a delegation from the Hertie School of Governance, Berlin, led by its Senior Fellow, Dr Rolf Alter, at the Presidential Villa in Abuja last Wednesday.
He said Nigeria was actively seeking expertise from the global best institutions to enhance policy formulation and implementation, particularly in human capital development.
The Vice-President noted that President Tinubu was determined to elevate Nigeria to its rightful position as a leading force in Africa.
“The current crop of leadership in Nigeria under President Bola Ahmed Tinubu is ready and willing to unleash the full potential of the Nigerian nation on the African continent.
” We are laying the groundwork through strategic reforms, and at the heart of it, is human capital development.”
He described the Hertie School as a valuable partner in the journey.
According to him, Hertie School of Governance, Berlin, has track record and institutional knowledge to add value to our policy formulation and delivery, especially in this disruptive age.
Shettima reiterated the government’s priority on upskilling Nigerians, saying ” skills are very important, and with our Human Capital Development (HCD) 2.0 programme.
“We are in a position to unleash the full potential of the Nigerian people by enhancing their capital skills.”
The Vice-President acknowledged the vital support of international development partners in that effort.
” I want to thank the World Bank, the European Union, the Bill and Melinda Gates Foundation, and all our partners in that drive to add value to the Nigerian nation,” he maintained.
The Vice-President said human capital development was both an economic imperative and a social necessity.
Shettima assured the delegation of the government’s readiness to deepen cooperation.
” We need the skills and the capacity from your school. The world is now knowledge-driven.
“I wish to implore you to have a very warm and robust partnership with the government and people of Nigeria.”
Shettima further explained recent economic decisions of the government, including fuel subsidy removal and foreign exchange reforms.
“The removal of fuel subsidy, the unification of the exchange rate regime and the revolution in the energy sector are all painful processes, but at the end of the day, the Nigerian people will laugh last.
“President Tinubu is a very modern leader who is willing to take far-reaching, courageous decisions to reposition the Nigerian economy,” he added.
Earlier, Alter, congratulated the Tinubu administration for the successful launch and implementation of the Human Capital Development (HCD) strategy.
The group leader described the development as ambitious and targeted towards the improvement of the lives of the citizens.
He expressed satisfaction with the outcome of his engagements since arriving in the country.
He applauded the zeal, commitment, energy and goodwill observed among stakeholders in the implementation of Nigeria’s HCD programme.
Alter said the Hertie School of Governance would work closely with authorities in Nigeria across different levels to deliver programmes specifically designed to address the unique needs of the country.
He, however, stressed the need for government officials at different levels to be agile and amenable to the dynamics of the evolving world, particularly as Nigeria attempted to successfully accelerate its human capital development aspirations.