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Experts Want Impediments To Industrial Capacity Utilisation Addressed

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An Industrialist, Mr Lucky Onyesom, has urged the Federal Government to address the challenging economic environment which currently impedes capacity utilisation by manufacturers across the country.
Onyesom, the Managing Director, Master Chemicals & Fertiliser Limited, made the appeal at the first Annual General Meeting (AGM) of the company in Asaba on Wednesday.
He explained that providing urgent solutions would enhance industrial growth and boost the nation’s Gross Domestic Product.
The Managing Director identified the collapse in oil prices, global economic meltdown and COVID-19 as major causes of foreign exchange shortage in Nigeria since 2020.
He added that the naira’s depreciation also arose from the shortfall in revenue and resultant pressure on the foreign reserves.
According to him, the currency depreciation led to increased costs of materials in the year under review.
“Forecasted high inflation remained high in 2022 and this impeded improvements in business sentiment and dampened real purchasing power.
‘’A major raw material in our product chain, MOP Pellet, was a major issue that negatively affected the company’s performance during the year under review”, he said.
Onyesom described the company’s performance in the difficult macroeconomic environment as a testament of the commitment, diligence and resilience of its management and personnel.
He said these qualities worked to create long-term value for stakeholders based on the company’s vision and mission.
The Managing Director announced a proposal to increase the authorized share capital from 1,000,000 of N1.00 each to 100,000,000 shares of N1.00 each in 2023.
He added that while shareholders would be allotted 60,000,000, the remaining 40,000,000 will go to the directors.
Onyesom said the company planned to invest in Urea plant with 300 metric tons per day capacity, and had hired a consulting firm to work with a Chinese company to actualise the plan.
The management adopted the motions and ratified the decisions while the financial statement report, presented by a Lagos-base audit firm, Ogagavworia & Co, was adopted by the directors of the company.

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GoG Crucial To Bayelsa’s Dev, Growth – Diri

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Bayelsa State Governor, Senator Douye Diri, has said the location of the state around the resource-rich Gulf of Guinea (GoG) region presents unique opportunities for investment for its growth and development.
He also stated that his administration was ready to deepen collaboration to enhance the security of the contiguous maritime area.
The Governor stated this recently while speaking at the Nigerian Mission House in New York, during a High-Level Discourse on the Gulf of Guinea, with the theme: “Unlocking Energy, Oil/Gas, Mineral Resources, Aviation and Maritime Opportunities in the Gulf of Guinea: A Roadmap for Peace and Security”, on the margins of the 80th United Nations General Assembly (UNGA).
The Tide gathered that the event was convened by a policy think tank, “The New Diplomat”, in collaboration with Angola-based Gulf of Guinea Commission.
The State’s Chief Executive noted that Bayelsa, being the ancestral homeland of the Ijaw people, shares historical affiliation and geographical similarities with the Gulf of Guinea, saying that the huge economic potentialities of the area were yet to be fully exploited.
He said the State’s longest coastline in the country of over 200km offers opportunities in tourism, oil, gas and energy development as well as investments in glass, ceramics, fisheries, maritime and aviation, among others.
“The Gulf of Guinea, stretching approximately 6,000 kilometers from Cape Lopez in Gabon to Cape Palmas in Liberia, is one of the world’s most strategic maritime basins.
“It anchors nearly 60 per cent of Africa’s oil production, holds 4.5 per cent of global proven oil reserves, and 2.7 per cent of global gas, and supports seaborne trade expanding at unprecedented pace.
“Surrounding this basin is a vast market of over 500 million people across West and Central Africa, making the Gulf not only a lifeline for energy, but also a growth engine for trade, jobs, and food security.
“Bayelsa’s unique geography grants us unmatched prospects for oil and gas exports, maritime logistics, fisheries, and coastal trade. Our dual identity as an energy powerhouse and custodian of delicate ecosystems defines both our responsibilities and opportunities”, the Governor said.
He stressed that the objective of his administration was to create a safe and transparent environment where private investment, local enterprise and international partners can deliver shared prosperity for communities in the region.
He, however, noted that insecurity had been a serious challenge in the Gulf, particularly piracy, which he said required concerted effort among stakeholders to effectively tackle.
“As a government, we have pioneered a community-based crime prevention strategy – the first among Nigeria’s coastal states. We couple this with formal enforcement in partnership with the Nigerian Navy, Joint Task Force, Police and other agencies.
“We have re tooled local security outfits, established the Bayelsa Community Safety Corps, and deployed technological surveillance mechanisms.
“Bayelsa State’s partnership with United Nations Office on Drugs and Crime (UNODC) and the Government of Germany to launch a community-based crime-prevention programme has shown promising results, including the rescue of seven kidnapped victims in 2022″, the Governor added.
The UNODC Executive Director and Director-General of the United Nations Office in Vienna, Austria, Amb. Ghada Waly, said the Gulf of Guinea is an important economic powerhouse of the African continent.
Waly re-echoed the significance of shoring up security in the Gulf, saying the region had become a transit route for illicit financial flows, drugs and organised crime.
“According to the 2024 Nigerian Corruption Survey reported by the UNODC, over $40 billion had been lost in the last one decade through illicit financial flows and embezzlement. Corruption opens the door for criminal networks to infiltrate supply chain and erode the rule of law.
“With global demand for critical minerals set to rise, the risks will only grow. Without concrete action and sustained support, these threats will hold the region back from reaching its full potential.
“At the UNODC, we are working with our partners to curb organised crime in Nigeria and in the Gulf of Guinea”, she said.
In a welcome address, Nigeria’s former Ambassador to Thailand, who is the convener and Director of The New Diplomat, Oma Djebah, said the roundtable was organised to bring together global thought leaders, policy makers, private sector icons and the civil society “to advance pragmatic, enduring partnerships and a bright future for the Gulf of Guinea.”
He also stated that the proposed Gulf of Guinea Business Council (GoGBC) would foster collaboration between the private sector and governments in the Gulf of Guinea and development partners, saying that it would create jobs, improve infrastructure and unlock the region’s full economic potential.
The event was chaired by former Nigeria’s Foreign Affairs Minister and erstwhile United Nations Under-Secretary-General, Prof Ibrahim Gambari, and had in attendance Governor of Zamfara State, Dr. Dauda Lawal; Nigeria’s Attorney-General and Minister of Justice, Mr. Lateef Fagbemi; his Solid Minerals Development counterpart, Dr. Dele Alake; and Nigeria’s 21st Chief of the Naval Staff, Admiral Awwal Gambo.
Others were former France Ambassador to Nigeria and currently, Head, Africa Division at France’s Ministry of Foreign Affairs, Emmanuella Blatmann; Portugal’s Special Envoy to Africa and former Ambassador to Denmark, Rita Laranjinha; and the Charge d’ Affaires, Permanent Mission of Nigeria to the United Nations, Amb. Samson Itegboje, among others.

By: Ariwera Ibibo-Howells, Yenagoa

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IYC Lauds Police Over Real Estate Agent Killer’s Arrest

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President of the Ijaw Youth Council (IYC), Worldwide, Sir Jonathan Lokpobiri Snr., has applauded the Nigerian Police Force (NPF), Bayelsa State Command, for the timely investigation and arrest of Mr George Idumangi, suspected killer of a Real Estate agent in Yenagoa, Mr. Richard Ekpebu.
Lokpobiri gave the commendation at the Ijaw House, headquarters of the Council, while speaking with Journalists shortly after a monitoring tour of some ongoing projects being executed by the IYC.
He condemned crime and criminality and dissociated the umbrella Ijaw Youth body from nefarious activities, noting that the suspect, Mr. Idumangi, popularly called Pastor Brandy, once served in one of the adhoc committees of the Council and worked closely with a former Zonal Executive of the Council, but that it does not make the IYC an association of criminal-minded individuals.
“I want to commend the Nigerian Police for the timely investigation and subsequent arrest of Mr. George Idumangi, the prime suspect in the murder of Mr. Richard Ekpebu.
“I like to sound it very clear that though Mr. Idumangi, who is popularly called Pst. Brandy, has previously served in a committee of one of the former executive of the central zone of the IYC, that doesn’t make the IYC, which many of us have struggled to build, a criminal organisation.
“I sympathise with the bereaved families of Mr. Ekpebu. He’s one of us. Both Idumangi and Ekpebu are Ijaw youths. We’re against crime of any sort. We’ve responsible and well behaved members of the IYC in all walks of life doing Ijaw nation and Nigeria very proud.
“How on earth will you take another man’s life because of money? How much is the money in question? No man has the right to wrongfully take another’s life no matter what”, the Youth leader said.
Lopkpobiri, who also said under his leadership of the Council a number of youth developmental initiatives were being carried out, said one of such programmes is the ongoing construction of a Youth vocational centre alongside other projects to train and retrain Ijaw Youths in various skills and vocations.
He also called on the Nigerian Police and sister security agencies to apprehend and question the authenticity of any body seen using the number plate and insignia of the IYC in vehicles, saying the Ijaw Youth Council number plates and insignia we’re exclusively reserved for serving executive members of the Council.
“People can’t use the IYC logo, plate number and council insignia to be fomenting trouble.
“Henceforth I call on the Police and sister security outfits to arrest suspected members of the public, who aren’t executive members of the IYC, using our insignia and plate numbers to commit crime and criminality”, the IYC President added.

By: Ariwera Ibibo-Howells, Yenagoa

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Niger Delta

No Hiding Place For Erring Motorists In Delta – FRSC

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The Federal Road Safety Corps (FRSC), Delta State Sector Command, has warned motorists against violating traffic regulations, saying there will be no hiding place for them.
The new FRSC Sector Commander in the state, Mrs. Joyce Alexander, who gave the warning recently at a news conference in Asaba, said the era of impunity is over.
“The roads must be safe, and the corps will pursue that goal relentlessly. No individual, no matter how highly placed, will be shielded from the consequences of breaking the law”, she said.
According to her, “strict adherence to traffic rules and regulations would reduce crashes and improve safety on the roads.
“We are urging Nigerians to adhere to traffic rules and regulations to ensure safer roads.
“Motorists must ensure that they drive at recommended speed limit such as 35km/h in built-up areas.
“This is to minimise the risks of crashes while guaranteeing their safety and that of others.
“All hands must be on deck to stop the carnage; every road user must ensure safety whenever they are on the road.”
The Sector Commander also called for stakeholders’ support to reduce the rate of road accident.
“My coming here is to rejig and reposition the corps operation with our stakeholders, the people, government, unions, as well as all road users.
“We need to ensure that, at the end of the day, we have safe roads, and people can move from one point to another to transact their businesses”, she said.
She reiterated the commitment of the corps to ensuring safe, passable, seamless and crash-free roads.
Alexander appealed to parents and guardians not to allow their underage children to drive.
She warned that minors found driving would be arrested and sanctioned.

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