News
AfDB Dissatisfied With $210m Nigeria Agro-Industrial Zones Project

The African Development Bank has expressed dissatisfaction over the slow progress of the first phase of Nigeria’s Special Agro-Industrial Processing Zones project, raising concerns about the disbursement of the $210m loan allocated for the initiative.
According to the bank’s latest Implementation Progress and Results Report dated January 30, 2025, obtained from its website by The Tide yesterday, 98.39 per cent of the total loan remains undisbursed more than two years after the project was approved.
The SAPZS-I project was approved in December 2021 as part of efforts to drive agro-industrial development in Nigeria by establishing processing hubs, supporting infrastructure, and improving agricultural productivity.
However, the project has suffered significant delays, leading to warnings from the AfDB and the introduction of remedial measures to hasten implementation.
The report read, “Procurement of supervision consultants for the DBO contractors is at RFP stage in the case of Kaduna State and REOI stage for Oyo, Imo and Cross River State Design Build and Operate bidding documents have been cleared for four states of Kaduna, Cross River, Oyo and Ogun states and Kaduna has already advertised its DBO.
“All these will result in improved implementation, disbursement, and rating in the year 2025. However overall performance status from the time of project approval to date is relatively slow, especially with respect to project disbursement.”
It reveals that of the total loan amount of $210m, only 1.61 per cent has been disbursed as of December 2024
The ADB was to provide $160m of the total loan, while the Africa Growing Together Fund would provide an additional $50m.
Further checks by The Tide showed that AGTF is a $2bn facility sponsored by the People’s Bank of China and administered by the AfDB.
Despite the availability of these funds, the pace of disbursement has been sluggish.
Further breakdown of the figures shows that only 1.93 per cent of the AfDB’s portion of the loan has been disbursed, leaving 98.07 per cent undisbursed.
Similarly, the AGTF’s portion has recorded a disbursement rate of just 0.58 per cent, with 99.42 per cent of the funds yet to be utilised.
The bank identified administrative inefficiencies, weak capacity among project staff, and delays in procurement processes as key factors hindering the disbursement and implementation of the initiative.
The AfDB has also raised concerns about the slow progress in Imo State, which has not commenced any major activities under the project.
Unlike Kaduna, Cross River, Oyo, and Ogun states, which have made some progress, Imo has lagged.
The bank has formally warned the Imo State Government to begin implementation immediately or risk losing its share of the loan.
The report states that the bank has informed “the Government of Imo State on the need to start activities or the bank will recourse to a cancellation of the loan.”
Meanwhile, the bank has also directed the Ogun State Government to provide an acceptable Service Level Agreement to ensure continued funding.
The Tide learned that a service level agreement defines the level of service expected from a vendor, laying out metrics by which service is measured and remedies should service levels not be achieved.
It is often a critical part of any technology vendor contract.
Despite the project’s potential to drive agro-industrial growth, the bank noted that weak capacity among the staff managing the initiative has posed a major challenge.
The National Project Coordinating Unit and Participating State Implementing Units were found to lack the expertise needed to efficiently manage financial resources, procurement processes, and environmental and social safeguards.
The report highlights that, as part of efforts to address these shortcomings, the bank has deployed two experienced consultants to support project staff and ensure they meet the bank’s fiduciary requirements.
Due to the weak capacity at the PSIUs and the NPCU, the bank noted that it is providing “handholding support to both National Coordinating Office at the Federal level and PSIUs in terms of financial management, procurement processes, Environmental and Social Safeguards etc; reinforced by regular technical workshops on Bank fiduciary requirements.
“The Bank has also provided additional two experienced consultants to backstop and hand hold the project staff on the implementation of project activities.”
News
Ibas Inaugurates RSIEC, Service Commissions, Healthcare Board In Rivers …Charges Appointees To Embrace Principles Of Service

The Administrator of Rivers State, Vice Admiral (Rtd) Ibok-Ete Ibas, has charged newly appointed Board members to uphold the highest standards of discipline, competence, integrity, and unwavering dedication in their service to the State.
He emphasized that such commitment is critical to stabilizing governance, restoring democratic institutions, and advancing the principles of good governance in the State.
This was contained in a statement by the Administrator’s Senior Special Adviser on Media, Hector Igbikiowubo on Monday.
Ibas issued the charge on Monday while inaugurating the reconstituted Rivers State Independent Electoral Commission (RSIEC), Rivers State Civil Service Commission, Rivers State Local Government Service Commission, and the Rivers State Primary Health Care Management Board at Government House, Port Harcourt.
The Administrator urged the new appointees to embrace their roles with diligence, patriotism, and a commitment to transforming Rivers State through excellent service.
Addressing the Chairman and members of RSIEC, Ibas underscored their pivotal role in ensuring credible local government elections that reflect the will of the people.
“Your task is clear but demanding: to conduct free, fair, transparent, and credible elections at the grassroots level. You must resist bias, favoritism, and external interference while restoring public confidence in the electoral process,” he stated.
“The independence of your actions is crucial to sustaining peace, stability, and grassroots governance. I urge you to act with fairness, impartiality, and professionalism—even in the face of difficult choices,” Ibas added.
The Sole Administrator also charged the Rivers State Civil Service Commission on the need to eliminate mediocrity and foster a culture of excellence through merit-based recruitment, training, and promotions.
“The civil service must transition from favoritism to competence, integrity, and accountability. Your commission will lead reforms, including digital transformation and standardized practices across ministries, departments, and agencies,” he said.
He disclosed that extensive training programmes are underway, with a committee set up to overhaul the public service framework for greater efficiency.
Meanwhile, Ibas urged the Rivers State Local Government Service Commission to ensure professionalism and discipline in local government administration.
“As the closest tier of government to the people, you must drive reforms that insulate the system from politics and mediocrity. Your mandate includes merit-based recruitment, training, and enforcing standards for effective service delivery,” he stated.
In the same vein, the Administrator charged the Rivers State Primary Health Care Management Board with revitalizing healthcare delivery across the state’s 23 local government areas.
“Primary healthcare is the foundation of a sustainable health system. Your board must ensure facilities are adequately staffed, equipped, and operational focusing on maternal health, immunization, malaria control, and community health services,” he said.
He emphasized data-driven operations, incentives for rural health workers, and restoring the referral system to improve healthcare access.
He also assured the Board of sustained government support, including funding, for the effective discharge of their mandates but warned that board members would be held accountable for their performance.
The newly inaugurated members include: RSIEC: Dr. Michael Ekpai Odey (Chairman) with Prof. Arthur Nwafor, Prof. Joyce Akaninwor, and others as members.
Civil Service Commission: Dr. Livinus Bariki (Chairman), Amb. Lot Egopija, Mrs. Maeve Bestman, and others.
Local Govt. Service Commission: Mr. Isreal Amadi (Chairman), Rear Adm. Emmanuel Ofik (Rtd), Dr. Tonye Pepple, and others.
Primary Health Care Board: Dr. Dawari George (Chairman), Dr. Chituru Adiele (Executive Director), Prof. Kaladada Korubo, and representatives from key ministries.
News
Rivers PDP Debunks Sale Of LGA Election Forms

The Publicity Secretary of the Peoples Democratic Party (PDP) in Rivers State, Dr. Kenneth Yowika, has debunked claims that the party has commenced sale of forms for chairmanship and councillorship elections across the 23 local government areas of the state.
Yowika made the rebuttal in a statement made available to newsmen on Wednesday, describing the publication on the social media as baseless and untrue.
He urged members of the PDP to disregard the claim, saying that official communication regarding the sale of forms would be disclosed through the appropriate channels.
“With reference to information trending on social media, it has been falsely claimed that the sale of forms for Chairmanship and Councillorship elections in the 23 Local Government Areas (LGAs) of Rivers State will begin soon.
“However, the party has firmly denied these rumours, stating that they are baseless and untrue.
“The party has its own established methods of reaching out to its numerous supporters.
“The People’s Democratic Party, a law-abiding organisation, will patiently await the release of guidelines from the recently inaugurated Rivers State Independent Electoral Commission (RSIEC) before considering any sale of election forms.
“The PDP is urging its members to remain calm as official communication regarding the sale of forms will be disclosed through appropriate channels,” the statement read.
Enoch Epelle
News
South-South contributes N34trn to Nigeria’s economy in 2024 – Institute
Prof. Pius Olanrewaju, President of the Chartered Institute of Bankers of Nigeria (CIBN), has stated that the South-South region contributes N34 trillion to country’s economy in 2024.
He made the remark at the South-South Zonal Banking and Finance Conference in Calabar, yesterday.
He spoke on the theme, ‘’Building An Inclusive South-South: Economic Diversification as a Catalyst For Development.’’
Olanrewaju, who quoted the data from the Cable Data Index, said the feat was more than 21 per cent of Nigeria’s real Gross Domestic Product (GDP).
The president described the growth as ‘’ impressive,’’ saying that it was not driven by oil alone but significant expansions in trade, services, and the creative industries.
According to him, to fully harness this potential, coordinated financial, technological, and policy support is essential.
“As we work to reposition the South-South for broad-based prosperity, the financial system must play a central role, not merely as a source of capital, but as a catalyst for innovation, ideas incubation, and inclusive economic growth.
“This conference, therefore, provides a strategic opportunity for stakeholders to reimagine the South-South economy, not merely as a resource belt, but as a region of diverse capabilities and resilient enterprises.”
Olanrewaju added that Nigeria must move beyond old models and chart a new course for the development of the South-South region, where financial institutions and stakeholder collaborate to diversify the economy for shared prosperity.
He, however, commended Gov. Bassey Otu for his pledge of land for CIBN Secretariat in Cross River and being the first sitting governor to willingly undergo and complete the Chartered Bankers Programme.
On his part, Gov. Otu said that the conference discussion on the economic diversification in South-South region was timely against the backdrop of global trade and economic volatility that was affecting the nation’s economy.
Represented by his deputy, Mr Peter Odey, Otu said the South-South region must now act with urgency to diversify its economy while leveraging its shared natural endowment in agriculture and extractive resources.
“This conference must help develop tailored financial solutions that reflect the unique strengths and realities of states like Cross River in the south-south.
“Diversification should be evidence-based and must be backed not just by financial advice but project focused financing and real investment support,” he noted.
He said that Cross River had taken the bold step to invest in its agricultural sector by launching an Agro processing hub.
Otu further said that the state had invested in aviation by acquiring more aircrafts for Cally Air, construction of the Bakassi Deep Seaport and injecting N18 billion in its tourism sector.
Similarly, Mr Tolefe Jibunoh, Cross River Branch Controller of the Central Bank of Nigeria (CBN) said that the region was blessed with natural resources, cultural diversities and immense human potentials.
Jibunoh, who was represented by Mr Segun Shittu, Head, Currency Control Office, CBN, Calabar, noted that strategic diversification could unlock unprecedented opportunities for growth in the region.
He added that the CBN remained steadfast to maintain monetary possibilities and promote a sound financial system as a catalyst for sustainable economic development for the benefit of all.
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