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Nigeria Needs Financial Engineering To Surmount Economic Challenges – Ogomudia
DAN DENT( ASABA)
SPONSORED BY: H&H
Former Chief of Defence Staff, General Alexander Ogomudia (rtd.), on Friday, said Nigeria requires great financial engineering to enable the country resolve the multifaceted economic challenges bedevilling its sustainable development.
General Ogomudia disclosed this at the public presentation/launch of a book titled “200 Most Outstanding Deltans” held at the Unity Hall, Government House, Asaba.
He added that financial engineering was also needed to generatee resources that would oxygenate the economy of the nation as well as the foreign reserves needed for the country to interface with the global economic system.
According to him, the present situation in the country, if left unresolved, could lead to inability of government to pay salaries with the attendant consequences of social upheavals unless the government would continue to take loans.
“We were told that Nigeria needs a total of N13.57 trillion naira to run as a country but we are barely able to generate N5.5 trillion naira in revenue out of which, last year, we spent N4.2 trillion naira on debt servicing thus leaving only N1.3 trillion naira as against N13.57 trillion which we needed to run the country.
“You will agree with me that resolving this kind of economic challenge will require great financial engineering.
“This kind of engineering is also needed to generate resources we need to run our country and the foreign reserves needed for us to interface with the global economic system.
“This situation, if left unresolved, could lead to inability of government to pay salaries with the attendant consequences of social upheavals unless we are going to continue to take loans,” the retired General said.
Speaking on the book (200 Most Outstanding Deltans) jointly authored by Pastors Powell Tos, Kennedy Bienose and Mr Nelson Egware, Ogomudia said the publication was a power house of individuals whose personal achievements are truly outstanding.
According to Ogomudia who was the Chairman at the ceremony, the public presentation/launch of the book, by implication, speaks to the subject of development be it in Delta State, some other states or in Nigeria generally as a country.
“To some people, the event of today is an ordinary one but to me, it is unique and special since it mirrors a perspective to development which recognises achievements, hard work and the idealism of performance per excellence.
“From the names of those who made the list in this first edition, it is clear that putting the list together, like the Secretary said, is a herculean task.
“I am aware that Delta State parades some of the best talents in this country. Therefore, the list would have been a lot longer than what we have now but I believe that subsequent editions, like the Secretary said, would definitely address all that have been ommitted,” he said.
While congratulating the outstanding personalities, Ogomudia noted that their recognition through the publication, was a further manifestation of a little mustard seed which, he said, was planted by Governor Ibori at the onset of democratic governance in 1999, adding that Ibori set the stage for the recognition of Deltans who were able to make it to the top of their careers.
“Today’s event, therefore, marks another dimension in performance and recognition of individual achievements since it has some historical perspectives through the launching of this book.
“The 200 outstanding Deltans who made the list, have made history today. Indeed, their achievements and joint contributions made today’s event possible. If they didn’t achieve, l am sure nobody will waste his time trying to put together a list,” he stated.
“Occasions like this, according to him, work for our youth because they are our hope for the future, adding that they must recognise that the profound challenges of the future which stretched before them are enormous.
“To this extent, you must note that every generation has its own challenges and yours, l doubt if it could be an exception.
“If you are prepared to play any role of your own which off course, you must do, you must recognise that the future is already here with most economies now being technologically driven.
“In addition, competition for the best jobs and industries will come from the cutting edge technologies which you must endeavour to play a role.
“The challenges will also include mind bogging inventions that are coming up daily which are also knowledge driven for which you must prepare yourself adequately,” Ogomudia said, pointing out that the event should serve as a catalyst that will spur the youth into working hard in order to meet the challenges ahead.
In his remarks at the ceremony, Governor Ifeanyi Okowa thanked the authors of the book for their painstaking effort in putting the book together.
The Governor who was represented by his deputy, Deacon Kingsley Otuaro said in a population of about 6 million people that are outstanding in their different respect, picking 200 most outstanding “is undoubtedly, a very painstaking work.”
“l want to use this opportunity to say that whoever that is there, is there in a representative capacity of the fact that we are all true Deltans and we are all winners,” he added.
Earlier in his welcome speech, the Secretary of the organising committee, Pastor Kennedy Bienose disclosed that the book is a document for posterity, adding that there would be subsequent editions, even as he said that the e-version of the book would be available soon.
The book reviewer, Godfrey Ubaka who is the Editor-In-Chief of The Pointer Newspaper said the book which was lucidly presented was aimed at celebrating excellence.
The highlight of the ceremony was the unveiling of the book by the Minority Leader of the House of Representatives, Hon. Ndudi Elumelu and Speaker of the State House of Assembly, Chief Sheriff Oborevwori, among other dignitaries.
News
IBEDC Celebrates Christmas, Urges Customers to Prioritize Safety and Energy Responsibility
IBEDC Celebrates Christmas, Urges Customers to Prioritize Safety and Energy
Responsibility.
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
The Management of Ibadan Electricity Distribution Company (IBEDC) Plc extends heartfelt Christmas greetings to all Christians, esteemed customers, and Nigerians at large.
In a statement, the Managing Director, Engr. Francis Agoha highlighted that the birth of Jesus Christ symbolizes sacrificial love—a virtue that humanity should strive to embody.
Engr. Agoha assured customers that IBEDC has implemented measures to ensure network stability and smooth operations throughout the holiday season. “In anticipation of customer needs during the holidays, we are fully prepared to address faults quickly to minimize disruptions in power supply,” he stated.
He also called on customers to avoid energy theft, including tampering with meters or making illegal connections. “Energy theft is a criminal act that affects service quality for everyone and hampers our collective progress. I encourage customers to report any suspicious activities immediately,” he said.
Additionally, Engr. Agoha warned against tampering with electrical installations due to their severe safety risks, including the potential for injury or fatality. Customers are urged to report any faults, energy theft, or other issues to IBEDC offices or the Customer Care Line: 07001239999.
IBEDC also encourages customers to use its secure and convenient payment platforms to ensure an uninterrupted electricity supply during the holidays.
These platforms include the IBEDCPAY app (available on Android and iOS), Quickteller, Payarena, Jumia, Watu, Buypower, IRecharge, and ATMs. IBEDC offices will be open from 9 am to 3 pm during the holiday to report faults, make inquiries, bill payments, and vending services.
“We sincerely thank our customers for their continued support throughout the year and urge everyone to prioritize safety by avoiding hazardous practices, such as cooking under power lines, drunk driving, etc.,” added Engr. Agoha.
Merry Christmas and a prosperous New Year filled with peace, joy, and progress.
News
Overriding Public Interest: Delta warns against impeding govt projects
Overriding Public Interest: Delta warns against impeding govt projects
DAN DENT (ASABA)
SPONSORED BY: H&H
Delta State Government has cautioned citizens against impeding projects meant to serve the general public, saying such actions were illegal and constituted an abuse of the law.
Commissioner for Works, Highways and Urban Roads, Comrade Reuben Izeze (middle) discussing with the Chief Press Secretary to the Governor, Sir. Festus Ahon (right) shortly after Inspecting the maintaininers of Uti Road on Wednesday, while the Project Manager Mr. Milad Boutros (left) look on. PIX: SAMUEL JIBUNOR.
The State Commissioner for Works (Highways and Urban Roads), Comrade Reuben Izeze, gave the warning in Effurun on Wednesday during an inspection of the DSC Roundabout Link Road to PTI Junction.
According to him, “no citizen is bigger than the state; I learnt that a citizen has said a particular portion of the road that has been approved cannot be constructed because that is his private property.
“I want to sound it to our people as a note of warning, that, to impede government project in the name of private property is an abuse of the law.
“If your property is on the right of way and we know it is not a road, this administration has made it a point of duty to pay compensation for the use of such properties in the overriding public interest.
“This project has an overriding public interest; if your property is in the right of way and your property has approval, the best we can do, as we have always done, is to give you compensation.
“But to say you stop government officials from doing their job because you feel you are bigger than the government or you are bigger than the law is absolutely unacceptable.”
Commissioner for Works, Highways and Urban Roads, Comrade Reuben Izeze (right) taking the measurements of the Rod while the zonal Chief Engineer Uvwie and Opke local government Area, Engr. Kporon Ennah (left) look on. PIX: SAMUELm JIBUNOR.
Speaking further, he said; “so, we are constructing a drainage that would discharge all the water on this road. If you look at this place, it was originally a swamp.
“Meanwhile, this place had all along been intended to be a road that should take traffic from the East-West Road to reduce the volume of traffic on DSC Roundabout and PTI Junction straight to the Eku highway.
“We have come to see what the contractors are doing and I must express my displeasure at the poor quality of engineering work that I have observed here in this drainage.
“In fact, as things stand, considering the volume of water that will be coming from the Julius Berger projects, the existing volume of water from the swamp.
“What is being done here, therefore, necessitates that this drain be done according to the engineering specifications because the volume of water we will be dealing with is enormous.
“However, on getting down here and measuring the distance between the reinforcements, we discovered that the contractor apparently did not pay attention to details.
“So, I have instructed them to remove everything, start afresh and we will come back. They should not put the reinforcement until I have come to inspect what they have done to be sure that they have complied with the spacing as provided for in the Bills of Engineering Measurement and Evaluation.”
News
Brutality Victim: Anambra State Executive Council Approves Medical Expenses of Victim
Brutality Victim: Anambra State Executive Council Approves Medical Expenses of Victim
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Governor Chukwuma Charles Soludo undertakes the medical expenses of a victim of brutality by some contractors of the Anambra State Waste Management Authority (ASWAMA), Mr. Okechukwu Akaneme.
The governor took this humanitarian decision to relieve the victim while strongly denouncing such despicable conduct. In addition to the governor’s gesture, the contractor has been relieved of his engagement with the state agency (ASWAMA) immediately, to serve as a deterrent to others.
In a statement by the Commissioner for Information, Law Mefor, the victim who was assaulted is being hospitalised.
The Council has resolved to pick up his medical overheads, while sympathising with Akaneme ‘s family and prays for his quick recovery.
This profound empathy reflects Soludo’s sincere dedication to offering not just solutions but also a genuine commitment to providing helping hands, support, and hope to the people whenever and wherever required in the state.
END
Press Release
Anambra State Executive Council Awards More Road Contracts
The 37th Anambra State Executive Council (ANSEC) has awarded the contracts for the construction of new roads in the state in preparation for the yuletide season.
This is aimed at ensuring a memorable Christmas for Ndi Anambra, who will be celebrating the season in the state, from across the country and other parts of the globe.
In a release by the Commissioner for Information, Law Mefor, ANSEC at its 37th Meeting, approved the construction of the 3.75 km Igwe Orizu Road, in Nnewi, to New Idea Construction Company Ltd, and to be completed within six months.
The 10.8 km Nkwor Nnewi to Nkwor Oraifite was awarded to Infratech Construction Ltd at N7.2 billion, with a 12-month completion timeline, while the Oraukwu-Abatete-Nimo bypass in Idemili North measuring 4.922km was awarded to GMG Global Construction and Development Company Ltd, with a delivery date of six months.
At the meeting, the Council observed that many roads awarded at the last executive council meeting, including the New Tarzan Road and the three roads whose contracts were revoked and re-awarded, have not been reported.
Recently, Governor Soludo kept his promise with the completion of the 12.5km Ezira-Umuomaku-Enugu Umuonyia-Achina Road, linking several communities, and the 11.9km Mmiata-Anam-Nzam road, linking the headquarters of Anambra West Local Government Area (LGA).
With the ongoing and completed road projects in the state, Governor Soludo has literally turned Anambra into a construction site in his pursuit of transforming the state into a country-wide destination brand.
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