Empowerment
Again Senate considers ‘uneven’ disbursement of N483bn intervention loan
The Senate on Wednesday reconsidered the alleged uneven disbursement of intervention loans to the tune of N483 billion by development financial institutions to the six geopolitical zones in the country.
The Senate raised a 7- man Ad- hoc Committee to carry out a holistic investigation into the matter and report back to the in four weeks for further legislative action.
Chairman of the Committee is Senator David Umahi. Other members are senators; Babangida Oseni, Ali Ndume, Sani Musa, Tokunbo Abiru, Ipalibo Banigo and Chizoba Chukwu.
This followed the debate on a motion by Senator Ali Ndume (Borno South) which was supported by 64 other senators on the need to holistically investigate the disbursement of the loans by Development Bank of Nigeria, NIRSAL and related Banks to micro, small and medium scale enterprises (MSMEs) in Nigeria from 2015 to date.
Recall that Senate witnessed its first rowdy session last Wednesday over the same subject matter when Akpabio rejected the motion to debate the alleged uneven distribution of N500 billion credit facilities to Micro, Small and Medium Scale Enterprises (MSMEs) across the country.
Ndume, had upon the commencement of plenary session, drawn attention of the Senate to a motion he sponsored on the same issue of imbalance in the distribution of the money adding that the outcome of that motion was not concluded before the end of the tenure of the 9th Senate.
Recall alao that the same motion by Ndume and three others was investigated by an ad- hoc committee in the 9th Senate and a report was submitted by the panel headed by Senator Sani Musa (Niger East).
Deliberating on the motion at plenary on wednesday, the Senate noted that the huge disparity and un- even distribution of half a billion Naira to states in the six geopolitical zones of Nigeria and the states in the country in 2021 by the Development Bank of Nigeria .
“Aware that the Bank’s Annual Integrated Statutory Report 2021obtsined on 13th July, 2022 from the organisation’s website showed that the Bank disbursed a loan worth Four Hundred and Eighty Three Billion Naira (N483,000,000,000) only out of which only 11 percent went to the 19 states of Northern Nigeria, while 47percent went to Lagos State alone.
“Also aware that the 13 percent of the loan that went to the North totals about about Fifty Three Billion , One Hundred and Thirty Million Naira (N53,130,000,000) while the 47 percent that went to Lagos State alone totals Two Hundred and Twenty Seven Billion and Ten Million Naira (N227,010,000,000) only..”
According to the breakdown of the loan presented by Sen Ndume, “the South West got 57 percent worth N274,740,000,000; South South got 17 percent worth N81,940,000,000; North Central got 11 percent worth N53,020,000,000; South East got 9 percent worth N43,380,000,000; North West got 5 percent worth N24,100,000,000; North West and North East got just One percent worth N4,820,000,000.”
Recall that the Development Bank of Nigeria exists to alleviate financing constraints being faced by Micro, Small and Medium Scale Enterprises (MSMEs) in Nigeria through providing finances , partial credit guarantees and technical assistance to eligible financial intermediaries on a market – conforming and fully financially sustainable basis.
Ndume also noted that the top five sectors considered for the loan were oil and gas (42.0 percent), manufacturing (16.0 percent) , agriculture, forestry and fisheries (7 .2 percent), trade and commerce (6.3 percent), and transportation and storage (3.5 percent),
However, there was mild drama as senators took time to dissect the motion
Seriake Dickson (PDP Bayelsa) while suggesting an addition prayer asjed that
the Ad- hoc investigation should be extended to look at all intervention loans by the CBN including Covid- 19 palliative, Anchor Borrows loan etc.
But the additional prayer was dropped on the pretext that will make the assignment of the ad- hoc committee unending.
Contributing earlier, Sen. Orji Uzir Kalu (Abia North) said loans are gotten up in application and following satisfaction of requisite requirements including bank guarantees.
Olamilekan Adeola (Ogun West) said Ndume had the notion that his North East zone was short changed but forgot that the development financial institutions had laid down procedures to disburse loans but appealed that the motion be given a second look if Ndume felt bad about the facts.
Sen. Sani Musa (Niger East) who headed the former ad- hoc committee said it should be noted that there is difference between bank loans and palliatives .
While agreeing that development institutions has criteria gor granting loans , he said the institutions might not be strictly followed .
He disclosed that 65 percent of loans disbursed by DBN has been repaid.
Musa also said interest of northerners in applying for the loan may be restricted by religious belief that no interest should be paid on.loans while financial institutions take 17 percent on loan.
But Ndume interjected him saying he perfectly understood workings of development institutions and their requirements . But claimed he got information presented from the website of the DBN and microfinance institutions involved.
A financial expert and retired banker, Sen. Isah Jibtil advised that the DBN among other institution is not wholly Nigerian institution but has foreign bodies like the World Bank and International Monetary Fund (IMF) as investment partners and they have their criteria which cannot be compromised by the Nigerian system.
He advised that Nigerians that failed to meet such requirement should approach other less cumbersome institutions such as the Bank of Industry and Bank of Agriculture.
Empowerment
Senator Jibrin Isah Echocho’s Legacy of Compassion Reshapes Kogi East
In an era where public service is often measured by fleeting promises, Senator Jibrin Isah Echocho is charting a different course, one rooted in tangible impact and enduring compassion.
The Igala Vanguard, a prominent socio-cultural group in Kogi East, has applauded the senator’s transformative approach to governance, emphasizing his unwavering commitment to healthcare access and economic empowerment.
Senator Echocho’s intervention in settling hospital bills at three major general hospitals has become a beacon of hope for struggling families.
For many, healthcare costs often force heartbreaking choices between medical treatment and basic survival. By lifting this burden, the senator has restored dignity and well-being to vulnerable residents.
“This isn’t just about paying bills; it’s about saving lives and ensuring no one is denied care because of poverty,” remarked Engineer Lawrence Akpa, leader of the Igala Vanguard.
The initiative has triggered discussions about sustainable healthcare reforms and inspired calls for other leaders to adopt similar strategies to fortify public health systems.
But Senator Echocho’s impact stretches beyond healthcare. His empowerment programs, targeting widows, youth, and low-income earners—are equipping citizens with the tools to rebuild their lives. From vocational training and small business grants to educational scholarships, the senator is laying the foundation for long-term economic resilience.
“These programs are creating a ripple effect,” said Akpa. “They are breaking cycles of dependency and giving people the means to take charge of their futures.”
Widows who once faced economic exclusion now run thriving businesses. Youths who lacked direction are mastering trades. Students who risked dropping out are now chasing academic dreams. The senator’s interventions are not just short-term fixes but blueprints for self-reliance.
Senator Echocho’s story has become a rallying point for leadership with empathy. The Igala Vanguard is now calling on other political leaders to replicate his model of service—one that prioritizes impact over optics.
“What he’s doing in Kogi East transcends politics,” Akpa added. “It’s about restoring faith in governance and proving that leadership can indeed be a tool for change.”
Community voices echo this sentiment. Residents have described the senator’s programs as a lifeline, particularly in rural areas where poverty and lack of infrastructure pose daily challenges.
While celebrating these achievements, the Igala Vanguard also expressed optimism about future initiatives. They urged Senator Echocho to sustain the momentum and expand his programs to reach even more underserved communities.
The group reaffirmed its support for his vision, stressing the need for collective efforts among stakeholders to address lingering socio-economic disparities in the region.
As Kogi East moves forward, Senator Echocho’s leadership offers a powerful reminder of what governance can achieve when anchored in compassion, vision, and action. His legacy, still unfolding, promises not just relief but renewal for the people of Kogi East.
Empowerment
Lawan Urges Holistic Economic Reforms Beyond Temporary Relief Measures
Former President of the Senate, Ahmad Lawan, has sounded the alarm over Nigeria’s soaring interest rates, which he described as a chokehold on entrepreneurship, agricultural growth, and sustainable development.
Speaking in Yobe North during a food distribution exercise targeting vulnerable communities, Lawan highlighted the broader structural challenges stifling Nigeria’s economic potential. While acknowledging the importance of providing immediate relief to struggling citizens, he advocated for transformative policies to address the root causes of economic hardship.
Lawan’s remarks signal a call for a shift from reliance on short-term interventions to sustainable economic strategies. His emphasis on affordable financing reflects the need for systemic changes to empower small businesses and farmers.
A statement by his is Media Adviser, Dr. Ezrel Tabiowo, quoted him to have said,“We can’t continue to manage hunger with handouts,” Lawan stated. “The focus must be on creating an environment where businesses and farmers thrive independently through affordable credit facilities and secure environments.”
According to Lawan, Nigeria’s commercial banks charge prohibitive interest rates of up to 34 percent, a figure he argues discourages investments and keeps the nation’s productive sectors in a state of stagnation.
“In countries where businesses flourish, loans are accessible at less than 1 percent interest rates. We must adopt similar practices to unlock Nigeria’s economic potential,” he said.
Lawan also linked food insecurity to rising insecurity, especially in northern Nigeria, where farmers are increasingly unable to access their farmlands due to banditry. He urged the federal government to intensify efforts to restore peace and create enabling conditions for agricultural revival.
“Food security is a matter of national security,” he declared. “We cannot expect sustainable growth when our farmers are unable to cultivate their lands due to fear of attacks.”
Acknowledging the reforms initiated by President Bola Tinubu’s administration, Lawan expressed optimism for economic improvements by 2025.
However, he stressed the need for state governments to complement federal efforts by implementing local strategies that promote food security, job creation, and access to credit.
“Governance cannot be centralized,” Lawan said. “States must take ownership of development plans tailored to their specific challenges and strengths.”
Lawan’s critique of Nigeria’s banking system underscores the need for urgent reforms to lower borrowing costs and expand access to financing for small and medium enterprises.
“The current interest rates imposed by commercial banks are callous and unsustainable,” he argued. “Unless we reform our financial systems to support entrepreneurs and farmers, our fight against poverty will remain a losing battle.”
While the food distribution organized by the Senator Ahmad Ibrahim Lawan (SAIL) Foundation offered short-term relief, Lawan insisted that Nigeria’s long-term economic trajectory depends on policies that promote self-reliance.
“Temporary relief measures have their place, but our focus must be on equipping Nigerians to build sustainable livelihoods,” he emphasized.
Lawan’s advocacy highlighted the intersection of economic policy, security, and agricultural development. His push for affordable loans, agricultural security, and federal-state collaboration underscores the urgency of addressing Nigeria’s economic vulnerabilities.
As Nigeria grapples with inflation and food insecurity, Lawan’s call for reforms sets the stage for debates on how to transition from crisis management to sustainable economic growth.
Empowerment
Peter Obi Empowers 25 youths with N75m, Urges them to Embrace Hard Work, Integrity
The Labour Party (LP) presidential candidate in the 2023 general elections Peter Obi has admonished youths to imbibe the spirit of hardwork, discipline and integrity as sure parth to success.
Obi who is also a former Governor of Anambra State spoke recently when he held an inspiring interactive session with youths in Onitsha, Anambra State, at the invitation of the Faithspiration Initiative.
His empowering message centered on the importance of hard work, discipline, and integrity.
Obi reminded the youths that success in life is not determined by one’s background but by an unwavering commitment to doing the right things and working tirelessly towards achieving goals.
He shared his personal journey, explaining that although he was born and raised in Onitsha, success did not come easy.
He underscored that like many of them, he too faced challenges but was able to overcome them through hard work and discipline.
“There is no shortcut to success,” Obi stated. “It is not where you come from, but how determined you are to do the right things and work hard that truly counts.”
To further support the youths, Obi provided N300,000 each to 25 individuals to help them further their productive ventures, and pledged to continue empowering two more youths every month, starting in January.
In closing, Obi reiterated his belief in the potential of Nigerian youth to drive change. “A New Nigeria remains POssible,” he affirmed.
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