Connect with us


Rivers to Disburse N200m Interest-free Loans to Traders, Young Entrepreneurs



  • Rivers to Disburse N200m Interest-free Loans to Traders, Young Entrepreneurs

Rivers State Government has commenced the disbursement of N200 million per month interest-free loans to traders with a total of 397 traders benefitting from the first phase while the second is expected to start in the second week of next month.

Those to benefit are drawn from the 23 local government areas of the state.

The loans are meant for the beneficiaries to improve their respective businesses.

The state Commissioner for Special Duties and Chairman of the Committee on Entrepreneurs Interest Free Loans, Hon Emeka Onowu, said the loans would be disbursed monthly to the traders and young entrepreneurs for them to carry out small and medium-sized enterprises.

Onowu thanked the governor for the gesture and urged beneficiaries to invest the money wisely and to utilise it for the purpose it was meant and not to use it for frivolities.

He he stated that despite the economic recession in the country, the state government graciously released the first tranche of of the loan.

The commissioner felicitated with the state governor over his resounding victory at the March 9, 2019 governorship election.

He stated that the loan would go a long way to boost the morale and improve the businesses of the traders.

Onowu further noted that the state government’s goodwill came as a shock since Governor Wike was just coming out of election processes,

He enjoined beneficiaries to invest the money wisely and to utilise it for the purpose it was meant and not to use it for frivolities.

Meanwhile, a group, National Association of Rivers Daughters, has commended Governor Wike for being humble and magnanimous in victory at the last turbulent governorship election in the state.

The group was reacting to the emergent political realities in the state, especially the governor’s call on political opponents to join hands with him, to advance the course of development in the state.

In a statement signed by its National President, Mrs Millie Charlsba Johnson, and National Publicity Secretary, Mrs. Tambari Onwukogba, the association further praised Wike for the initiative which they described as exemplary even as they called on the former Governor of the state and Minister of Transportation, Hon. Chibuike Amaechi,other leaders and members of the All Progressives Congress (APC) and opposition parties to accept the hand of fellowship extended to them by the governor to work for peace and mutual coexistence as he prepares to take Rivers State to a greater height in his second tenure of four years.

The association which is planning to use the opportunity of their 2019 annual general meeting scheduled to hold in Port Harcourt to interface with their root, especially, all the political stakeholders, to foster peace and brotherly love among the people of Rivers State.

“We met Governor Wike when we were on courtesy call while he was serving as Minister of Education during our annual general meeting in Abuja.

“After that courtesy visit, we left Wike with the memory of a man who has passion and commitment to any matter that concerns our dear state, and more importantly, a man of his words, who has to be trusted.

“As daughters of the state married out, we are always concerned about the happenings, and progress of our place of birth, and will not fail to commend or admonish our people, who by their actions or inactions, draw our darling state backwards” the statement further stated.

The Rivers daughters who are excited with Wike’s fair distribution of projects and appointments in his inclusive administration, pleaded with all participants in the last general elections to put the past behind them and work for the unity and development of the state.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.


Siemens Energy Nigeria Appoints Seun Suleiman as Managing Director




Seun Suleiman is the New Managing Director of Siemens Energy Nigeria

Mr. Seun Suleiman is the new managing director of Siemens Energy Nigeria, the company announced on Wednesday.

According to the statement released by the energy company, Suleiman will be responsible for the entire management of operations and decisions on business policies and corporate strategy.

Commenting on his appointment, Suleiman said, “It is an absolute honor to lead the business for Siemens Energy Nigeria and I look forward to delivering on the brand’s promise of excellence.

Suleiman joined Siemens Energy in 2014, bringing over 15 years’ experience and deep expertise in the private sector across Europe and West Africa.

The statement said, “He is an accomplished business strategist and success-driven leader with strong business acumen. Suleiman has also been a core member of the executive management team at Siemens Energy serving in roles as Sales Director West Africa – Service Distributed Generation Oil & Gas and Vice President Service & Digital.

“Prior to this, he also held various functional and managerial positions with ABB Ltd UK, ABBNG Nigeria, Schneider Electric Nigeria and Dresser-Rand Nigeria Ltd.

It added that Suleiman was experienced in establishing operational excellence with specific competence in the power, oil and gas sectors.

Continue Reading


FG Reopens Osubi Airport Warri for Daylight Operations




FG Reopens Osubi Airport Warri for Daylight Operations

The Federal Government on Monday said the Osubi Airport in Warri has been reopened for daylight operations.

The Minister of Aviation, Hadi Siriki, disclosed this in a tweet.

The airport was closed in February 2020 over mismanagement and debt allegation involving aviation service providers and airport management.

However, Oberuakpefe Afe, a lawmaker representing Okpe/Sapeie/vaie federal constituency, recently moved a motion for the Federal Government through the ministry of aviation and relevant authorities to reopen the airport for flight operations.

On Monday, Hadi Siriki said “I have just approved the reopening of Osubi Airport Warri, for daylight operations in VFR conditions, subject to all procedures, practices and protocols, including COVID-19, strictly being observed. There will not be need for local approvals henceforth.

Continue Reading


Nigerian Brand, JR Farms Acquires 11% Stake in Rwandan Firm




Nigerian Brand, JR Farms Acquires 11% Stake in Rwandan Firm

JR Firms, an agribusiness firm with headquarters in Nigeria, has announced partnership with Sanit Wing Rwanda through the acquisition of 11 per cent stake in the company.

The CEO of the company, Mr Rotimi Olawale, explained in a statement that the partnership was in furtherance of its goals to ensure food security, create decent jobs and raise the next generation of agrarian leaders in Africa.

The stake was acquired through Green Agribusiness Fund, an initiative of JR Farms designed to invest in youth-led agribusinesses across Africa.

Sanit Wing Rwanda is an agro-processing company that processes avocado oil and cosmetics that are natural, quality, affordable, reliable and viable.

The vision of the company is to become the leading producers of best quality avocado and avocado by-products in Africa by creating value across the avocado value chain.

With focus on bringing together over 20,000 professional Avocado farmers on board and planting of three million avocado trees by 2025 through contract farming, the company currently works with One Acre Fund in supply of avocado to its processing facility.

The products of the company which include avocado oil, skin care (SANTAVO), hair cream and soap are being sold locally and exported to regional market in Kenya.

With the new partnership with JR Farms- the products of the company will enjoy more access to markets focusing on Africa and the European Union by leveraging on partnerships and trade windows available.

Aside funding, the partnership comes with project support in areas of market exposure, capacity building, exposure and other thematic support to grow the business over the next four years.

JR Farms has agribusiness operations in Nigeria, Rwanda, United States and Zambia respectively.

In Nigeria, the company deals in cassava value chain processing cassava to national staple “garri” which is consumed by over 80 million Nigerians on daily basis, while in Rwanda, it works in the coffee value chain with over 4,000 coffee farmers spread across the East Central African country.

Continue Reading