Delta Govt approves N1bn revolving fund for MSMEs

Delta Govt approves N1bn revolving fund for MSMEs

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The Delta State Government has approved a ₦1 billion revolving fund to be managed by the Bank of Industry (BOI) at a single digit interest rate to support Micro, Small, and Medium Enterprises (MSMEs) in the state.

The State Commissioner for Economic Planning, Mr Sonny Ekedayen, disclosed this on Thursday, during a post EXCO press briefing at Government House, Asaba.

Ekedayen said the initiative aimed to boost entrepreneurship, create jobs, and drive economic growth by providing accessible financing to small business owners at a single digit interest rate.

He said the fund was expected to offer low-interest loans, helping businesses scale up operations and improve productivity.

He said: “The good news will excite the Micro, Small, and Medium Enterprises (MSMEs) and the business community in the state, manufacturing companies, hoteliers, small scale industries among others.

“The Exco, in its wisdom, today approved a managed fund of N1billion with the Bank of Industry and it is another laudable
achievement of the Oborevwori-led administration.

“This is imperative because, apart from infrastructure, businesses operating within the confines of Delta State, no matter how small or big, will be eligible to accessing single digit loan from the Bank of Industry.

“I am sure that the commercial and business community in the state will be very happy about this because, as we all know, prime lending rate is in the region of about 30 per cent and most businesses will struggle to pay such rates.

“But with this, businesses in the state will be guaranteed of a loan facility of single digit from the Bank of Industry which is going to be revolving.

“I must emphasis that it is a loan and not a grant and only serious minded business men with proven track record will be given that money with subsidised interest rates with flexible tenure.

“Most commercial banks give their loans from 90 to 100 days but with this, the business community in the state can get loans from between one and five years, with some measure of moratorium in between.

“It is something I am very excited about because I know what businesses are suffering, especially by way of working capital.

“It is laudable and commendable for which I expect a major excitement from the business community.”

The Economic Planning Commissioner also disclosed that Exco approved the State’s Medium Term Development Plan for 2024-2027, describing it as the working document for the Governor’s MORE Agenda.

He added, “Also today, the Delta State Medium Term Development Plan number 3, (2024-2027) was approved and the importance of the medium-term plan cannot be over-emphasised because everything about projects approvals and implementation are all derivatives from this strategic plan.

“It encapsulates the vision and mission of the Governor as enshrined in his MORE Agenda and this document will drive everything about government spending and I can tell you, for free, that we are running all these without borrowing.”

Oborevwori, at maiden 2025 Delta Exco meeting, vows more bumper projects

Oborevwori, at maiden 2025 Delta Exco meeting, vows more bumper projects

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Delta State Governor, Rt Hon Sheriff Oborevwori, Thursday, said his administration was poised to deliver life- changing projects for the people ahead of his second year anniversary.

Governor Oborevwori disclosed this in his opening remarks at the maiden State Executive Council meeting for 2025 at Exco Chamber, Government House, Asaba.

He said his administration had lined up humongous projects across the three senatorial districts and urged Ministries, Departments and Agencies (MDAs) to fastrack the process of awarding the projects in line with his administration’s MORE Agenda.

He said: “Today is the first Exco meeting of the state this year and we are happy to make use of this dry season to achieve a lot in our infrastructure drive.

“Today, Deltans will know that my administration is ready to do more for them. There are a lot we hope to achieve with today’s Exco meeting because it promises to be the best Exco meeting since our administration started.

“We are touching all the Senatorial districts and all local government areas have been carried along with the huge amounts we are spending this period.

“Deltans will be very happy and that is what we want. We are doing this in line with our MORE Agenda because we have promised Deltans that we are going to advance the state through the MORE Agenda and that is what we are doing.

“We are doing it so that the people will be happy and I want to advise the Ministries, Departments and Agencies to make sure they fast track the process of award of these contracts.

“We are already in February; we just have few months to the rainy season and I believe that we will have a lot of projects for inauguration during our second year anniversary in office,” he added.

Experts call for enhanced cybersecurity infrastructure, education in Delta

Experts call for enhanced cybersecurity infrastructure, education in Delta

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By Christopher Odamah

With the growing application of information and communication technology in governance, experts have called for a comprehensive and strong cybersecurity policy and legislation to protect critical infrastructure and personal data. Such policy should align with state cybersecurity policies with national and international standards.

The envisaged policy should address critical issues such as safeguarding critical infrastructure, including power grids, water systems, and transportation networks as vital assets.

This was part of the communique adopted at a one-day Delta State Cyber Security Summit last week in Asaba. Organised by the office of the Delta State Webmaster in partnership with Upgraded Era Solutions Limited and the National Cyber Security Center under the auspices of the Inspector General of Police, it is the first ever Cyber Security Summit in Delta State.

The summit also called for the adoption of strategies to explore the latest cyber threats and vulnerabilities, such as ransomware attacks, phishing scams, and data breaches, and how to mitigate the risks.

According to exerts at the summit, Delta State should as a matter of priority establish a Cybersecurity Centre and invest in training programmes to equip officers with the requisite skills and tools to handle evolving cyber threats effectively.

It also recommended that the Delta State Government should implement robust cybersecurity policies and frameworks to protect critical infrastructure and digital assets.

It also recommended youth engagement and the establishment of a Delta State Cybersecurity Task Force to ensure sustained collaboration among all stakeholders.

The summit addressed the shortage of skilled cybersecurity professionals and the importance of investing in cybersecurity education and training programs to develop a robust cybersecurity workforce.

The Delta State Cybersecurity Summit unites government, law enforcement, and private organizations in addressing pressing cybersecurity challenges; to provide a platform for stakeholders to exchange ideas, share experiences and develop actionable strategies towards enhancing the state’s cybersecurity posture and also to strengthen the cybersecurity defenses and protect its digital assets.

Notable Security Agencies present at the event were NSCDC, Correctional Services, NDLEA, Nigerian Police, State Security Service (SSS) as well as Operation Delta Hawk.

Also in attendance attendance were top government officials,including officials from the office of the Accountant General of the State, Ministries of Economic Planning, Commissioner of Science and Technology, Information as well as Special Adviser to the Governor on Special Duties, Director General of Security, State of Orientation Bureau, Executive Assistant to the Governor on New Media, Executive Assistant Media, Executive Assistant Security and many other media aides to the Governor.

Members of Delta Online Publishers Forum (DOPF) and civil society organizations were also represented.

Delta EXCO Approves N936 billion proposed budget for 2025

Delta EXCO Approves N936 billion proposed budget for 2025

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Delta State Executive Council, (EXCO), Monday, approved a proposed budget of N936 billion for the 2025 fiscal year.

Briefing newsmen after the Exco meeting presided over by Governor Sheriff Oborevwori, the State Commissioner for Economic Planning, Mr Sonny Ekedayen, said the proposed budget comprised N587.4 billion, representing 62.75 percent for Capital Expenditure, while N348.7 billion, representing 37.25 percent, is for recurrent expenditure.

Ekadeyan, who was flanked by Commissioner for Information, Dr Ifeanyi Osuoza, and his counterparts in Works (Rural and Riverine Roads), Mr Charles Aniagwu and Riverine Infrastructure, Hon. Ebikeme Clark, said the 2025 proposed budget was premised on an exchange rate of N1,300 per dollar.

He said: “The budget size is N936,078,818,719 billion, broken down into capital and recurrent components of N587,361,060,084 billion capital, representing 62.75 per cent, while the recurrent component is N348,717,758,635 billion, representing 37.25 per cent.

“This budget reflects our commitment to key sectors with a balanced approach between recurrent and capital expenditures.

“This 2025 proposal is 29.12% larger than the current year’s budget, demonstrating our dedication to advancing the state’s development.

“Our focus areas remain clear: agriculture; support for micro, small, and medium enterprises; youth empowerment; tourism; entertainment; social safety nets through poverty alleviation; physical infrastructure; healthcare; and education.

“While this provides an overview of the proposed budget, it is still subject to review and will be officially transmitted to the State House of Assembly for further deliberation.”

Ekedayen who remarked that the Oborevwori’s administration is anchored on transparency and accountability, added that the 2025 budget will be 100% organically funded without any borrowing.

“A significant portion of the funding will come from the Federal Accounts Allocation Committee (FAAC) allocations, with our internally generated revenue serving as the secondary source.

“To give a clearer perspective, we anticipate that our Internally Generated Revenue will reach at least N140 billion.

“For the 2025 project proposals, this combination of Federal allocation and internally generated revenue will be the primary sources of funding.”

Also speaking, Commissioner for Information, Dr Ifeanyi Osuoza, said “Exco approved a range of impactful projects that aim to benefit communities across the State.

“With the two-year anniversary on the horizon, the Council emphasized the importance of future-oriented planning.

“Accordingly, all heads of Ministries, Commissioners, and Permanent Secretaries have been directed to ensure rigorous oversight of their respective projects, with a strict mandate for high standards. There is absolutely no tolerance for substandard or incomplete work.

“The Council also confirmed key appointments, including the appointment of HRM, Dr. Greg N. Oputa, as the Obi of Aboh in Ndokwa East, and Professor Epiphany Azinge, SAN, as the Asagba of Asaba Kingdom in Oshimili South Local government area.”

He added that several infrastructure projects were also approved, covering critical areas including Rehabilitation of Ugwhrughelli/Ehidi road and construction of chief Lyn Ivie Akporiche street, Ughelli North LGA and Amechi Aguisi street in Asaba.

“We also approved the construction of oil road/ old Okpe road in Jeddo Okpe Local Government. Exco also approved the construction of Ejeba road extention/Jelink road and the extention/Olomoro road in Isoko South Local Government.”

Commissioner for Works, Rural and Riverine Roads, Mr Charles Aniagwu, disclosed that Exco directed that contractors whose projects had lasted for more than one year without mobilising to site, would be determined.

He said Exco approved several new roads including the reconstruction of Uzere Asaba-Ase Bridge and adjoining Road in Ndokwa East and Isoko South Local Government Areas of the state.

“Exco also approved six internal roads in Isoko South as well, as Alisimie-Owa-Nta road in Ika North East, while internal roads and drainage were also approved at NYSC Orientation Camp at Issele-Uku in Aniocha North Local Government Area.

“We also approved the construction of access road to Airforce base at Osubi Airport, Opete Road by Plantation City to Opete Waterside in Udu Local Government Area among others, Aniagwu said”.

He said the approvals were in line with Governor Oborevwori’s desire to open up the communities for businesses.

On his part, Commissioner for Riverine Infrastructure, Hon. Ebikeme Clark said Exco ratified Governor Oborevwori’s approval for the construction of Model Secondary School in Oporoza and Construction of access road to Nigeria Maritime University Okerenkoko both in Warri South-West Local Government Area of the state.

Clark said: “The Nigerian Maritime University is a Federal institution but the Governor deemed it fit to construct the road connecting the temporary site to the permanent site of the university.

“The people of riverine areas are happy with the Governor and they believe that with time he would do more for them.”