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Transparency, New Master Plan Needed For Niger Delta Development – Executive Secretary NCDMB

Published

3 years ago

April 26, 2023

Editor

The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote, has identified transparency, prudent management of funds, and a new master plan as very vital for the sustainable development of the Niger Delta.

He said these and other things need to be put in place in order to attract private investors and other stakeholders to support the Niger Delta Development Commission (NDDC).

In his keynote address delivered at the NDDC Public-Private Partnership Summit 2023, which took place in Lagos, Tuesday, Wabote tasked the NDDC management to return the Commission to the path of transparency and accountability in order to attract and sustain local and foreign partners.

He also recommended that the NDDC should project itself positively through its choice of signature projects and interventions and open its accounts and project sites for public scrutiny.

According to him, “Capital is very shy and avoids controversies like a plague. In a situation where there are real or perceived infractions, corruption, lack of accountability, and other vices, the capital attraction becomes a big challenge.”

He identified NDDC sources of funding to include the Federation Account, Oil Producing Companies, State Governments, and local or international grants, adding that the Commission would be expected to demonstrate financial ingenuity before it could leverage for more capital.

The Executive Secretary based his recommendations against the backdrop of experiences at the Nigerian Content Development and Monitoring Board (NCDMB), currently highly rated in the country by many independent arms of the Federal Government and the private sector.

While blaming the failure of the Niger Delta Regional Master Plan launched in 2007 on insufficient funding, frequent changes in leadership, delays in budget approvals, and other issues, he canvassed for a modified or an entirely new Niger Delta Master Plan, to be developed with the support of key stakeholders of the region.

He further advised the Commission to stick to its core mandate and avoid being pressured by interest groups to derail or dabble into projects outside its responsibility, emphasizing that the assessment of proposals should be strictly based on their sustainability, “otherwise, it would be money down the drain.”

Wabote admitted that it was imperative for NDDC to explore innovative funding via PPPs as a credible option to meet the expanding developmental demands of the Niger Delta, hinting that “PPPs also bring with it corporate governance, technical expertise, and commercial acumen to enhance project delivery and successful operations.”

The high point of the summit was the signing of a Memorandum of Understanding (MoU) worth over $15 billion between the NDDC and Atlanta Global Resources Inc, an international infrastructure project financing firm, for the construction of a mega rail line that would connect the nine states that makeup NDDC and ease the infrastructure deficit in the region.

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News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

17 minutes ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

39 minutes ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.

News

N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

Published

3 hours ago

May 6, 2026

Editor

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.