Business

Okowa, Dikio, Others Harp On Reviving Niger Delta Economy

Published

4 years ago

December 16, 2021

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’.

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.

“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.

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.

“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.

“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.

Related Topics:Dikio Niger Delta Economy Okowa

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Nigerian Stock Market Hits 10th Consecutive Uptrend As investors Gain N308bn

Published

1 day ago

October 10, 2025

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The Nigerian Stock Market recorded its 10th consecutive uptrend as investors raked in N308 billion gain on Thursday.

This comes as the Nigerian Exchange Limited, NGX, market capitalisation, which opened at N92.490 trillion, appreciated by 0.33 per cent to close at N92.798 trillion on Thursday.

Also, the All-Share Index added 0.33 per cent, or 485.25 points, to close at 146,204.34, compared with 145,719.09 recorded on Wednesday.

Increased trading in Eunisell Interlinked, Caverton Offshore Support Group, Sunu Assurances, Industrial and Medical Gases, Mecure, and 27 other advancing stocks boosted market performance on Thursday.

To this end, the market breadth also closed positive with 32 gainers and 21 losers.

Further analysis showed that Eunisell Interlinked and Caverton Offshore Support Group led the gainers’ chart by 10 per cent each, closing at N44 and N6.93 per share, respectively, while FTN Cocoa Processors led the losers’ table by 6.67 per cent, closing at N5.60 per share.

Market activity showed a decline in the number of deals and volume traded but an improvement in trade value.

Accordingly, a total of 346.99 million shares worth N27.43 billion were traded in 24,691 deals, compared with 525.72 million shares worth N13.61 billion exchanged in 25,597 deals on Wednesday.

Fidelity Bank topped the activity chart with 42.01 million shares valued at N861.54 million.

According to DAILY POST, NGX has continued its bullish run from last month’s end to date.

Business

CBN Sets POS Maximum Transactions In Fresh Guidelines

Published

3 days ago

October 8, 2025

Editor

The Central Bank of Nigeria has rolled out fresh guidelines for agent banking, known as Point of Sales, across the country.

The apex also in the guidelines pegged daily POS transactions at N1.2 million per agent and N100,000 per individual.

CBN disclosed this in a circular signed by its Director of the Payments System Management Department, Musa Jimoh.

The guidelines further mandate all financial institutions to publish the list of all their POS agents on their website and to display it in their branches.

CBN noted that the guidelines would take effect from April 1, 2026.

“The Guidelines aim to establish minimum standards for operating agent banking in Nigeria, enhancing agent banking to provide financial services and promoting financial inclusion, encouraging responsible market conduct and improving service quality in agent banking operations.

“This circular takes effect from the date of release, while the implementation of agent location and agent exclusivity shall be in effect from April 1, 2026.

“POS agents are restricted to a maximum of N1.2 million per day. Individual customers are limited to N100,000 in daily transactions.

“These limits are intended to curb misuse, enhance financial integrity, and protect consumers within the agent banking framework,” it stated.

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Naira Records First Appreciation Against US Dollar At Official Market

Published

3 days ago

October 8, 2025

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The Naira recorded appreciation on Wednesday against the United States dollar at the official market, the first time in three days this week.

The Central Bank of Nigeria’s exchange rate data showed that the Naira strengthened to N 1,470.62 per dollar on Wednesday, up from N1,471.09 traded on Tuesday.

This means that the country’s currency firmed up slightly by N0.47 against the dollar on a day-to-day basis.

Monday and Tuesday, the Naira recorded negative sentiment at the official foreign exchange market.

However, at the black market, the Naira remained unchanged at N1,500 per dollar on Wednesday, the same rate exchanged on Tuesday.

The apex bank data indicated that the country’s external reserves, a determinant of the exchange rates, stood at $42.57 billion as of October 7, 2025.