Business

Bayelsa Pays N6bn On Contracts …As NYSC Loses 8 Members

Published

14 years ago

June 15, 2012

Bayelsa State Government, has released the sum of N6 billion to three construction companies for the completion of the three senatorial road projects in the state.

At the presentation of the cheques in Yenagoa, Governor Seriake Dickson, urged the contractors to give the people quality jobs.

The governor also signed two bills passed by the state House of Assembly into law.

The presentation of the N6 billion to the contractors marked the commencement of infrastructural development under the new administration in Bayelsa State.

The breakdown of the funds shows that N2billion was released to Julius Berger for the construction of Yenagoa-Oporoma road, representing the Central Senatorial road project, N2.5billion for the construction of the Sagbama/Ekeremor road in the West Senatorial road to Setraco and N1.5billion to China Construction and Company, for the Etegwe–Tombia road.

The Commissioner of Works and Infrastructure,Mr.Lawrence Erudkapo,said the three multinational construction companies were carefully selected based on their proven integrity and that the Etegwe-Tombia road would be built with eight bridges.

In his remarks, Governor Seriake Dickson,said the construction of the roads would open up the riverine communities for development.

He said the government was committed to transforming Bayelsa State.

The Governor also signed two bills recently passed by the State House of Assembly into law.

The new laws are the Bayelsa State College of Arts and Science Re-Establishment Law 2012 and Bayelsa State Thanksgiving Day 2012.

Governor Dickson said the College of Arts and Science would now take-off from the Science Secondary School along Okaka Road after an upgrade of facilities.

He renewed the commitment of the present administration to develop the education sector.

Earlier, while presenting the bills in company of other lawmakers,the Speaker of the State House of Assembly, Mr.Kombowei Benson,said the legislature would work hard to support the executive arm to succeed in its task to transform the state.

Meanwhile, the National Youth Service Corps (NYSC) in Delta State has said that five of its corps members who served in the 2011 Batch ‘B,’ lost their lives during the service year.

The state Coordinator of the scheme, Mrs Vivian Omeruo, disclosed this yesterday in Asaba at the passing out parade of 2011 Batch B corps members.

She, however, said that their deaths, which occurred “through various unfortunate circumstances, were heroic as they died in active service”.

Omeruo also said that 25 corps members were pencilled down for various sanctions ranging from repeat of service to extension of service for various disciplinary conducts.

She said that out of the 25 corps members, nine who absconded would repeat the service year.

The coordinator said the names of the nine corps members had already been forwarded to the National Directorate of the NYSC for ratification.

She said the remaining 16 would have extension of service for periods ranging from two weeks to four months.

In Jigawa, NYSC Coordinator, Mr Ishaya Dede, expressed satisfaction that corps members posted to the state were safe.

He said that recently, 200 corps members voluntarily re-deployed from neighbouring states to Jigawa because of the peace enjoyed in the state.

“Jigawa is a small state, yet we have more corps members now than Kano and some other states in the North.

“This is because some of them were re-deployed here for safety, good welfare and better facilities in our orientation camp,” he said.

Dede said that out of 1,500 corps members, who passed out, 12 of them received the state Governor’s award, while names of 30 others, who contravened the NYSC Act had been forwarded to the headquarters for further action.

In his remarks, Governor Sule Lamido of Jigawa lauded the contributions of the NYSC in the state to the campaign against HIV and AIDS, polio virus and mass illiteracy among others.

In Bayelsa, the state NYSC Coordinator, Mr Abdulrasheed Abiodun, said three corps members died during the service year, while the services of 12 others were extended for truancy.

Meanwhile, 30 out of the 906 corps members, who served in Gombe State were honoured with awards, according to Mr Teryima Igyuse, the state Coordinator of the scheme.

He listed the award to include 20 certificates of merit and 10 certificates of commendation for participation in community development service.

He said the best female among the award winners received the First Lady Hajiya Adama Dankwambo’s award.

Igyuse said four corps members, who absconded from service would repeat the service year, while the service of two others would be extended.

Business

FG Begins South-West Tour To Promote New Cooperative Bank

Published

2 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.

Business

Customs Impound N2.35bn Cocaine, 15 Trailers of Rice

Published

2 days ago

May 13, 2026

The Tide

The Nigeria Customs Service (NCS), Federal Operations Unit (FOU) Zone ‘A’, Ikeja, has impound Cocaine Substance valued at ?2.35 billion alongside 15 trailer-loads of foreign rice and a wide range of contraband across the South-West.

This was disclosed to Newsmen during a press briefing in Lagos by Controller of the Unit, Comptroller Gambo Aliyu,

Aliyu revealed that the seizures were made over an eight-week period, underscoring intensified enforcement efforts.

According to him, operatives foiled 473 smuggling attempts within the period, leading to the confiscation of 8,794 bags of 50kg foreign rice, 22 used vehicles, 328 bales of used clothing, and 31,705 litres of Premium Motor Spirit (PMS).

He said other seized items include a Mercedes-Benz vehicle and various food products such as poultry, vegetable oil, spaghetti, and sugar.

Aliyu clarified that the rice displayed at the briefing represented cumulative interceptions made at different locations and times across the zone.

“All the rice you see here are accumulative of seizures carried out at different places, at different times, and through different interdictions,”

Beyond the economic implications, the Comptroller emphasized the social cost of drug trafficking, warning that narcotics continue to destroy families and fuel criminal activities.

“It may surprise you to know that many homes are broken due to drugs.

” Our mandate is to cut off the supply chain, and that is exactly what we are doing,”.

Similarly Customs operatives at the Gbaji outpost intercepted a 71 year-old suspect along the Lagos-Abidjan corridor with 6.35kg of cocaine concealed in a Toyota Highlander.

The drugs, comprising both powdered and crystalline forms, were valued at ?2.35 billion.

Under a special enforcement drive, codenamed “Operation Hawk,” the unit also seized 3,340 parcels of synthetic cannabis, popularly known as “Ghanaian loud,” weighing 1,540kg.

The substances, along with three suspects, have been handed over to the National Drug Law Enforcement Agency (NDLEA) for further investigation and prosecution.

In a related operation, officers intercepted four cylinders of mercury hidden in a vehicle along the same corridor. Aliyu described the substance as hazardous and subject to international regulation.

Overall, the Duty Paid Value (DPV) of the seizures stands at approximately ?5.5 billion, reflecting the scale of enforcement activities.

Additionally, the unit recovered ?97.7 million through Demand Notices issued on under-declared consignments.

Aliyu reaffirmed the Service’s commitment to deploying modern technology—including geospatial intelligence, drone surveillance, and real-time tracking—to strengthen border security and clamp down on smuggling networks.

CHINEDU WOSU

Business

Dangote, Nicolai Tangen To Partner In strategic sectors

Published

2 days ago

May 13, 2026

The Tide

Chief Executive Officer of Norges Bank Investment Management, Nicolai Tangen ( manager of the world’s largest sovereign wealth fund) has expressed interest in partnering with Dangote Group to expand investments across Africa, particularly in strategic sectors such as power, energy, renewable energy, agriculture, fertiliser and cement.

This was made known during a meeting of Chief Executive of Dangote Group, Aliko Dangote with Nicolai Tangen, the manager of Norwegian investment institution (with assets estimated at about $1.9 trillion) .

Also present at the meeting were Svein Tore Holsether, Chief Executive Officer of Yara International, and Terje Pilskog, Chief Executive Officer of Scatec, a global renewable energy company.

The engagement reflects growing international investor confidence in Africa’s industrial and infrastructure potential, as well as the increasing role of indigenous conglomerates such as Dangote Group in driving large-scale economic transformation across the continent.

Industry observers say the proposed collaboration could create significant opportunities for investments in critical sectors linked to energy transition, food security, industrialisation and infrastructure development.

The Norwegian sovereign wealth fund, regarded as one of the world’s leading institutional investors, has in recent years increased its focus on emerging markets, with Africa seen as a major frontier for long-term investment and value creation.

Analysts believe a partnership between Norges Bank Investment Management and Dangote Group could unlock substantial capital flows into infrastructure and industrial projects across Africa, helping to accelerate economic growth and regional integration.

Nkpemenyie Mcdominic, Lagos