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Okowa, Dikio, Others Harp On Reviving Niger Delta Economy

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Delta State governor, Dr. Ifeanyi Okowa, Interim Administrator of the Presidential Amnesty Programme (PAP), Col. Milland Dixon Dikio (rtd) and the Executive Director, Business Development, Nexim bank, Stella Okotete, have proffered solutions to the economic challenges of the Niger Delta region.

The trio spoke in Warri, Delta State at an economic summit organised by the Presidential Amnesty Programme (PAP) with the theme, ‘Restoring Wealth Creation in Niger Delta Region’.

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Okowa, who was represented by the Executive Secretary, Delta State Micro, Small and Medium Enterprises, Orezi Esievo, called for more private sector involvement in the development of the region, saying government alone could not do it.

The governor, who spoke on the importance of SMEs to any economy, said his administration is open to partnerships that will ensure sustainable wealth is created for the people of Delta State and the region as a whole.

In his remark, Dikio said the summit was aimed at highlighting the limitless opportunities readily available within the region to enable the ex-agitators have an idea of how to benefit from it.

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“This summit is a test-run of a larger one to come next year that will be all-encompassing. Basically, we are here to preach the gospel of shared prosperity. We can talk about how rich and prosperous Niger Delta is but if we don’t do something about it, it will be more wishful thinking”, Dikio said.

Okotete on her part worried that other regions in the country were taking advantage of their resources to create the needed wealth, while Niger Delta youths were relying on handouts.

She said with the agricultural resources in the region and the huge talents in the entertainment industry, people should form clusters and build the structures that will make it easier to access funding from institutions like the Nexim bank to begin export trade.

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Okotete said, “Non-oil sector is what is driving the economy of every country and in this region, there are a lot of resources that can be exported. The various governments in the region need to create an enabling environment for more investors to come.

READ ALSO: Security Challenges May Affect Conduct Of 2023 Elections, Former INEC Boss Warns

“The government needs to create a balance between economic and infrastructural development. It’s not just enough to build roads, yes roads are good but they should also build industries.

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“We must look at the export space. Export creates massive wealth. We must wake up and look into the future. Nobody will build the Niger Delta for us, it is only we that can do that. Let us start selling our region to the world and create a better future for our children.”

On his part, AVM Okorodudu (rtd), said it was unfortunate that since 2009 when the amnesty programme started, agencies of government like the Niger Delta Development Commission (NDDC), had failed to carry out their responsibility of reconstruction.

Okorodudu, who commended Dikio’s effort noted that funding the training of ex-agitators was an expensive venture, but added that it was a sheer waste of resources to train them without employing or engaging them.

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NNPCL Increases Fuel Price

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The Nigerian National Petroleum Company Limited, NNPCL, has increased the pump price of premium motor spirit across its retail outlets.

It was gathered that NNPCL retail outlets in Abuja have adjusted their fuel pump price to N955 per litre from N890.

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This is the case in NNPCL retail outlets along Kubwa Expressway, Wuse and other parts of Abuja.

READ ALSO:Fuel Station Manager, Three Others Arrested For Robbery

Similarly, the pump price hike has been implemented at filling stations in Kogi and Nasarawa.

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This means that the petrol pump price was increased by N65.

This comes after independent petroleum product marketers and filling station owners in Abuja increased petrol pump prices to between N950 and N971 per litre at the weekend. Their decision followed an upward review of the ex-depot petrol price by Dangote Refinery to N858 per litre, up from N820.

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Naira Appreciates Against Dollar As External Reserves Swell

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The naira appreciated against the dollar at the official foreign exchange market on Monday to begin the week on a bullish note amid swelling external reserves.

According to the Central Bank of Nigeria’s exchange data, the naira appreciated to N1,531.95 against the dollar on Monday from N1,533.74 traded last week Friday.

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READ ALSO:Naira Continues To Appreciate Against Dollar On Official Market

This showed that the Naira strengthened by N1.79 when compared to the N1,533.74 exchanged at the close of work last week.

Meanwhile, at the black market, the naira remained stable at N1560 per litre, the same exchange rate traded on Friday.

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The development comes as Nigeria’s external reserves had maintained a modest rise to $39.54 billion as of August 1st, 2025, up from $39.36 billion on July 30th.

 

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Naira Continues To Appreciate Against Dollar On Official Market

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The naira continued its appreciation against the dollar at the foreign exchange market on Tuesday.

Accordingly, the naira strengthened further to N1,533.18 against the dollar on Tuesday, from N1,534.21 traded the previous day.

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This represents a gain of N1.03 against the dollar on a day-to-day basis and marks the second consecutive day of appreciation at the official FX market.

READ ALSO:Woman Arrested For Killing, Selling Pregnant Nurse’s Body Parts

Meanwhile, on the black market, the naira depreciated further to N1,545 per dollar on Tuesday from N1,537 traded on Monday.

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Recall that the naira had similarly closed Monday’s trading session with mixed sentiments, recording gains at the official market but depreciating at the parallel market.

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