Business
Food Crisis: Rivers Govt Receives FG’s 21,650 Bags of Grains
The Rivers State government has received a total of 21,650 bags of grains from the federal government as part of the presidential food palliative initiative to cushion the effects of hunger and the economic hardship faced by many families across Nigeria
Speaking after receiving the bags of grains in Port Harcourt yesterday, which consists of 3,680 bags of garri and 17,970 bags of corn, Governor Siminalayi Fubara, expressed gratitude to President Bola Tinubu for donating the food items to the state, saying it would go a long way in addressing poverty and hunger, especially in the rural areas.
Fubara, who was represented by the Secretary to the State Government, Dr. Tammy Danagogo, revealed that local organising committees (LOCs), headed by the caretaker committee Chairmen of the 23 local government councils in the state, have already been setup and will distribute the food items to the most vulnerable people in every nook and cranny of the state.
He said: “This is a very welcome development. Everyone can see that there is need for all levels of Government at the Federal, State and Local governments to intervene in the fight against hunger.
“In Rivers State, we have put in place several machineries to ensure we tackle the challenge of hunger. First, by tackling insecurity, encouraging agriculture at all levels and also providing direct palliative interventions. I can recall we distributed food palliatives in December, April and today the Federal Government headed by Mr President, through NEMA intervention is here to support what the state has been doing.”
The governor emphasized the support of the state government to the Renewed Hope Agenda of President Tinubu, noting that he will continue to do so to ensure there is peace and security, food and other necessary amenities in the country.
He said: “Please extend our goodwill to Mr President, Rivers State is indeed happy and we key in and support the Renewed Hope Agenda. We are also doing everything possible to support the federal government fight against the scourge of hunger affecting all parts of the country.
“We will continue to support Mr President’s fight against insecurity in the country because one of the major causes of the food challenge is insecurity, particularly in the rural areas. Rivers State Government is doing everything possible to ensure we have absolute peace so that our farmers and fishermen can freely go out and produce food for the populace.
“We assure Mr President and the people of Rivers State that in conjunction with NEMA, we have put in place quick machinery to ensure the food gets to the smallest and farthest part of the state and also make certain every section of the state will benefit from what you have provided today.
“Committees have been setup at the LGA levels, headed by the CTC Chairmen. They are to work directly with the Director of NEMA in the State, the Permanent Secretary, Ministry of Special Duties, a director from the SSGs Office and NEMA officials to ensure effective distribution of the grains to the rural people.”
Carrying out a need assessment, the governor further encouraged NEMA to also consider bringing food items that can be easily consumed by indigenes of the south-south such as garri, rice or beans in its next intervention.
He said: “We are hoping that during the next intervention, you will take into consideration the actual needs of the people in the south-south region,” he stressed.
The South-South Zonal Director of NEMA, Mr. Walson Brandan, said the food items were from the National Strategic Reserve under the custody of the Federal Ministry of Agriculture and Food Security approved by Mr President for vulnerable Nigerians.
Brandan said: “It is worthy of note that based on the allocation table, Rivers State has been allocated 17,970 bags of 50kg maize and 3,680 bags of garri. The above food items will be shared equally to all the LGAs in the state. On behalf of the federal government of Nigeria, handover to Rivers State the above food commodities for onward distribution.”
The cryptocurrency market is stabilising after a turbulent start to the week, gaining nearly $89 billion and pushing the total market cap to $2.61 trillion.
Bitcoin rebounded above $80,000, with analysts suggesting a breakout past $82,761 could lead to $85,000, supported by strong investor confidence.
In the U.S., Speaker Mike Johnson urged patience, saying, “People need to be patient in waiting to see what President Trump was planning for the economy.”
White House Press Secretary Karoline Leavitt reassured investors, stating, “The recent market volatility was a transitory period, not a trend or a long-term one.”
Earlier in the week, crypto markets saw nearly $1 billion in liquidations as Bitcoin and Ethereum hit monthly lows.
However, stability returned, and in the past 24 hours, total liquidations reached $384.4 million—$138.2 million from long positions and $246.2 million from short positions.
Despite the recovery, analysts remain cautious. While reduced geopolitical risks and trade tensions have helped, inflation data, Federal Reserve policies, and ongoing global uncertainties could still impact markets.
The coming weeks will determine whether the market sustains its gains or faces renewed volatility.
In a move to support Nigeria’s transition to renewable energy, global technology giant Huawei has collaborated with the Office of the Head of the Civil Service and the Ministry of Power to equip Nigerian civil servants with essential skills in the green energy sector.
The two-day training programme theme “Green Energy and Solar Power Training” held in Abuja, targeted Directors of Engineering Departments across various ministries and agencies, aiming to enhance their knowledge of solar energy technologies and further champion its adoption in Nigeria. Participants were trained in making informed decisions on solar product selection, system maintenance, and ensuring energy efficiency in government operations.
Speaking at the opening of the training, Minister of Power Chief Adebayo Adelabu, represented by Permanent Secretary Alhaji Mahumuda Mamman, highlighted Huawei’s critical role in advancing renewable energy solutions.
“Huawei, as a global leader in technology and innovation, has been instrumental in making solar energy more efficient, scalable, and accessible,” Adelabu stated.
“Their involvement in this programme reflects their commitment not only to technological advancement but also to the education and empowerment of Nigeria’s energy leaders.”
Adelabu expressed confidence that the training would equip participants with valuable skills that would benefit their careers and contribute to Nigeria’s goal of energy independence and sustainability.
“The success of our energy transition depends on collaboration—between government, industry, and the technology sector,” he added.
“By working together, we can develop the infrastructure, policies, and human capital needed to accelerate Nigeria’s shift to a green energy economy.”
In his welcome remarks,Huawei Board Director Jim Zhang underscored the company’s longstanding presence in Nigeria, emphasising its contributions to the country’s digital and energy sectors.
“A lot of people know Huawei for our equipment, headsets, and laptops. However, we also provide digital power solutions, smart photovoltaic (PV) systems, and energy storage solutions (ESS) in Nigeria,” Zhang said.
He noted that Huawei has been in Nigeria for 26 years, operating two headquarters in Lagos and Abuja, alongside a training centre, an operations centre, and an innovation hub.
“We have already supplied nearly 100 megawatts of power through our smart PV and ESS systems in Nigeria,” Zhang revealed.
“We also collaborate with several universities, offering training programmes for students and professionals.”
Zhang reaffirmed Huawei’s commitment to working closely with the Nigerian government and businesses to address electricity challenges and enhance energy efficiency.
Head of the Civil Service of the Federation, Mrs Didi Esther Walson-Jack, represented by Permanent Secretary Dr Danjuma Usman Kalba, commended Huawei’s efforts in training civil servants. She stressed the importance of institutionalising such initiatives to ensure continuous capacity building in the public sector.
“We cannot thank Huawei enough for making itself available and organising this training,” Walson-Jack said.
“We hope this will become a continuous initiative within the civil service.”
She further emphasised the economic and environmental benefits of renewable energy, urging ministries and agencies to align their strategies with global sustainability policies.
“The world is increasingly focusing on climate change and its impact. It is essential that Nigeria aligns with global renewable energy policies,” she said.
“I encourage participants to seize this opportunity to understand solar energy systems, particularly their maintenance and practical applications.”
The 2-day training program features technical sessions tailored to enhance participants knowledge and capabilities in solar power, as well as site visits to Huawei-implemented project sites as part of the effort to equip participants with practical knowledge and drive the nation towards a sustainable and energy-efficient future.
By Abubakar Yunusa
Oil marketers have cried out about the negative impacts of unstable prices of Premium Motor Spirit or petrol in the country on their businesses.
President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gilly-Harris raised concern during Channels Television’s Business Morning on Tuesday.
According to him, fluctuating petrol prices in the last few weeks are constituting potential threats to the survival of businesses of its members.
Gilly-Harris’ concern comes on the heels of ongoign price war between the Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL).
Following the announcement of a price cut by the Dangote Refinery by N65 at the ex-depot price, the retail price at filling stations affiliated with Dangote dropped from N925-N930 to N860.
No sooner after, the NNPCL also reduced its price at its retail stations, further deepening rivalry between the two dominant players.
Billy-Harris said “In our consistently weekly reviews, we discovered that the size of loss, and the possibility of most of us getting out of business is glaring at us in the face. Because in today’s Nigeria, we have collaborative efforts being made between all the stakeholders, and we reach out to one another to know how the businesses are doing.
“As much as we are making efforts to make sure that Nigerians have product affordability from our end as the last mile in the industry, we also want to stay afloat and liquid.
“The challenge we have is that we buy products at a price today, and before the close of business, the price has reduced. We thought there should be a mechanism by which prices are analysed and ensure it doesn’t impact negatively on the industry.
“I have always said that every business can only survive by making some minimal profits that are commensurate to the price of paying the cost of doing business.
“We are fully aware that the international prices of crude oil and other related expenses are also being reduced. But when we invest to buy products at say N880, we are not going to sell at that price. And if such products become reduced to N840, N850, N860 or even N870 per litre, it becomes challenging how we will be able to recover our costs.”
Commenting on price monopoly in the downstream sector, Gilly-Harris said its members can either import products or buy from local refineries, however, it would not sell products at the expense of the survival of PETROAN members’ businesses.
He said “Yes, we have been in the forefront of always implementing what stakeholders agree. We have the capacity to import our products. We also have the capacity to buy locally refined products. But we see that prices consistently shift up or down, and there is no clear business consultation on how this should be done. That is why we said the NMDPRA and the consumer protection agency should swing into action and be able to work together with other stakeholders so that we can be able to have a stable market and a stable price.”