Business

Rivers Strategic Economic Dev: The Jesse Jackson, Emeka Anyaoku Testimonies

Published

15 years ago

September 21, 2011

At a time when most economies in different regions of the world including those of the most advanced societies are getting downgraded, the strategic economic and development initiatives in today’s Rivers State rather got top endorsement last week from highly rated quarters.

The architect of this great transformational development taking place in this corner of Nigeria, the governor, Chibuike Rotimi Amaechi, has been declared as ‘Nigeria’s hope and future’.

One of the foremost Back-American civil rights activists, the highly respected reverend, Jesse Jackson, thinks Governor Amaechi represents the ‘future and hope of Nigeria ’. Together with the former Commonwealth Secretary-General, Emeka Anyaoku, in the Garden City, both international icons put the weights of their reputations together to rate Amaechi. They declared him a high performer, a man to watch.

They did this while speaking at a dinner and command performance of Prof. Chinua Achebe’s political satire – ‘A Man of The People’. This took place in Government House, Port Harcourt as part of the 2011 Garden City Literary Festival in Government House, last Wednesday.

The renowned reverend who was full of praises for the country’s democratic growth observed that Governor Amaechi represents the new spirit in consolidating Nigeria ‘s fledgling democracy. Similarly, Anyaoku declared: “I could see Rivers State is fast approaching a level of development and from what I have seen, it is wonderful coming to the Garden City Literary Festival.”

The latest endorsements represent a huge vote of confidence in the efforts to reposition Rivers State as an emerging market worthy of the attention of serious investors within and outside of Africa .

Businesses in Nigeria tend to use their Port Harcourt presence to grow their turn-overs and bottomline. In doing so, they also grow the GDP of the state and help to confirm the Garden City as the economic hob of Nigeria and oil centre in West Africa. Multinational corporations seem to confirm this trend more than any other group of businesses.

This scenario comes with enormous responsibility on state government especially in providing security of lives and assets, infrastructure and social services such as education and health facilities to support the metropolitan complexity of the city.

Security in particular posed the greatest challenge few years ago requiring my boss, upon emerging as the next governor, to make difficult decisions and fight to retake the city from gangs and gunmen masquerading as militants and freedom fighters. Today, the Garden City is regarded as one of the safest cities in Nigeria .

Infrastructure has taken a huge chunk of the income of the state. Studies show that boost in infrastructure leads to a corresponding increase in the GDP of any society. This means that capacity is directly related to force of infrastructure and it is increase in business volume that would positively affect economic boom.

This explains the rush for massive road construction (over 900km, 35 bridges, five flyovers) in the state. This may sound abstract to outsiders but considering the riverine nature of the state and the difficult terrain that limits business communication, road development becomes a must.

Power alone has been isolated in various studies by both local and international groups as one most important factor that must be urgently addressed with suicidal determination if Nigeria was to think of any serious economic start-off. With less than 4000mw when at least 10000 mw is needed, businesses can only seek solace outside Nigeria , seek self-help through expensive alternatives or face certain liquidation. This is why our state governor is determined in his pursuit of a power self-sufficiency status in Rivers State, a quest that has cost the state over N100 billion even when another N75Bn is needed right now. Soon, the state will hit her desired target.

Rivers State is investing heavily in education and health as critical components of the economic drive. The governor is replacing the 1000 obsolete primary schools in the state with 750 model primary schools that have won local and international acclaim. There are 24 ongoing international standards secondary schools with computer capabilities, each built with N4.5bn.

Another strategic initiative by the present administration is the recourse to accessing capital to fast-track these mega projects which include flyovers, some key roads, the schools, the medical facilities including Clinotech Centre, the new UST, monorail project, etc.

– Ibim Semenitari, Mrs, is the Commissioner for Information and Communications, Rivers State; isemenitari@riversstate.gov.ng.

Business

Boat Mishap Kills Pastor, Wife And Church Members In Brass Water

Published

3 hours ago

May 18, 2026

The Tide

A boat accident in Bayelsa state has killed a serving Pastor, Wife and other church members along Brass waterways

The sad incident happened at Odioama in Brass local government area of Bayelsa State when the Pastor, wife and members of his church were in a programme.

?Tide confirmed that the lifeless body of the Pastor’s wife has been found and deposited in a mortuary while the remains of her husband ,the Pastor is yet to be recovered

as search party are still ongoing.

Although the real cause of the boat Mishap is not yet known as at the time of this report, our Correspondent gathered that the identities of the Pastor, wife and church members were not disclosed to the public.

The mishap, Tide gathered occurred on Friday morning when the church members were on a boat transit

The Bayelsa State government and the state police command are yet to issue official statement’s on the sad accident

By: CHINEDU WOSU

Business

Rivers Workers Seek Scrapping Of Contributory Pension Scheme

Published

3 hours ago

May 18, 2026

The Tide

The Rivers State Council of Nigeria Civil Service Union has called on the State Government to urgently scrap the contributory pension scheme, describing it as unfavourable to long-serving civil servants in the state.

Chairman of the union, Chukwuka Osuma, said this in an interview with newsmen in Port Harcourt, recently.

Osuma said the current pension structure has continued to worsen post-retirement hardship for workers.

He noted that the contributory pension scheme had failed to provide adequate retirement security for workers who had spent many years in service, especially those approaching retirement age.

According to him, civil servants who had served for more than 20 years were among the worst affected under the scheme, insisting that many retirees could no longer cope with prevailing economic realities.

He also informed that the Union has made moves to showcase their concerns, pleading with Governor Siminalayi Fubara to abolish the pension policy and introduce a more favourable arrangement for affected workers.

“The union was not opposed to pension reforms, the contributory scheme should only apply to newly employed workers or those with fewer years in service”, he said.

Osuma explained that workers who had already spent decades in the civil service ought to remain under a more secure pension structure capable of guaranteeing stability after retirement.

The labour leader further noted that inflation and the rising cost of living had continued to erode the value of retirement savings, thereby increasing the suffering of pensioners across the country.

He also appealed to the state government to consider extending the years of service in the civil service from 35 to 40 years and the retirement age from 60 to 65 years.

Osuma argued that such adjustment had become necessary in view of present-day economic realities and changing conditions in the workplace.

The unionist also reviewed that similar policies had already been adopted in some sectors and jurisdictions, expressing optimism that the State could also implement the reforms for the benefit of workers.

He however, commended Governor Fubara for approving an N85,000 minimum wage for workers in the state, noting that the amount was above the national benchmark of N70,000.

Osuma also acknowledged the government’s efforts in the area of workers’ promotions and bonuses, but insisted that pension reforms and extension of years of service remained critical to the long-term welfare and stability of civil servants in Rivers State.

By: King Onunwor

Business

FG Begins South-West Tour To Promote New Cooperative Bank

Published

5 days ago

May 13, 2026

The Tide

The Federal Government has launched the South-West zonal engagement and ministerial advocacy tour on the Cooperative Bank of Nigeria share capital mobilisation, sensitisation and cooperative sector digitalisation.

Reports say the initiative was launched through the Federal Ministry of Agriculture and Food Security.

According to reports, the advocacy tour, organised by the ministry’s Federal Department of Cooperatives, began on Monday in Lagos.

Speaking at the event, the Minister of State for Agriculture and Food Security and Supervising Minister of Cooperative Affairs, Dr Aliyu Abdullahi, said the initiative was part of President Bola Ahmed Tinubu’s Renewed Hope Agenda.

Abdullahi described the exercise as a strategic effort to reposition the cooperative sector as a key driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity.

“Today represents a defining moment in our collective determination to reposition the cooperative sector as a major driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity,” he said.

The minister noted the modern cooperative movement in Nigeria originated in the South-West following the 1934 Strickland Report, which led to the enactment of the Cooperative Societies Ordinance of 1935.

According to him, the decision to commence the sensitisation and share capital mobilisation tour in the region is symbolic, as it marks a return to the roots of cooperative development in the country.

Abdullahi said the advocacy tour was a direct outcome of resolutions reached at the 8th Regular Meeting of the National Council on Cooperative Affairs held in Abuja in March 2026.

He said the council approved the Renewed Hope Cooperative Reform and Revamp Programme, a comprehensive framework designed to strengthen the cooperative sector and align it with the administration’s goal of building a one-trillion-dollar economy.

“The reform programme focuses on seven strategic pillars, including governance reforms, cooperative financing and the establishment of the Cooperative Bank of Nigeria, digitalisation, capacity building, value chain development, inclusion of youths, women and persons with disabilities, and strategic partnerships,” he said.

He said the establishment of the Cooperative Bank of Nigeria and the digitalisation of the cooperative sector were the two major transformational initiatives under the programme.

“The Cooperative Bank of Nigeria is aimed at rebuilding a strong cooperative financial system capable of supporting cooperators, farmers, artisans, traders, SMEs, youths, women and persons with disabilities with accessible and affordable financial services,” he said.

Abdullahi emphasised that the proposed bank would be government-enabled but not government-funded.

“Government is not establishing the bank as an owner, nor will it rely on Treasury Single Account funds.

“The role of government through the FMAFS is to provide policy support, stakeholder coordination, regulatory facilitation and an enabling environment under the Renewed Hope Cooperative Reform and Revamp Programme,” he said.

Also speaking, the Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, reaffirmed the state government’s commitment to cooperative sector transformation.

She described cooperatives as critical tools for promoting inclusive growth, grassroots productivity, food security, financial inclusion and community wealth creation.

Ambrose-Medebem said Lagos State would continue to support reforms and collaborate with stakeholders to ensure the successful implementation of the Renewed Hope Cooperative Reform and Revamp Programme (2025–2030).

“Together, let us build a cooperative ecosystem that is modern, transparent, digitally enabled, financially inclusive and globally competitive.

“Let us build cooperatives that not only mobilise savings, but also mobilise prosperity,” she said.