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What I will Do With Bayelsa Money if Elected Governor-Agbedi

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Hon. Fred AGBEDI is a third time member in the House of Representatives. He was  former state chairman of the Peoples Democratic Party(PDP) in Bayelsa State. He also served as Special Adviser to Governor Dickson on Political Matters.

Agbeti who represents Sagbama/ Ekeremor Federal constituency in the House of Representatives is one of Governorship Aspirants  in the forth coming governorship election in Bayelsa state.

   In this interaction with the members of the Federated Correspondents the Aspirant bares his mind on the development of the state and his plans if elected.

Excerpt:

Can you speak briefly about yourself?

I am Fred Agbedi from Agoro community in Ekeremor Local Government Area  of Bayelsa State, I am the member of the House of Representatives, representing Sagbama/Ekeremor Federal Constituency, of course the third time member in the House of Representatives.

I was first in the House in third Republic which was 1992 under the National Republican Convention (NRC), today as a member of PDP, am serving my second term in the ninth Assembly at the House of Representatives. In Bayelsa state, I have held series of offices. I was the pioneer Secretary of NRC in Ekeremor LGA which office I contested and won to the House of Representatives. I have been chairman of PDP in Bayelsa state since 2005 to 2008. I have also  been  Special Adviser, Political Matters to Gov. Dickson and of course two times Director General  of Dickson Campaign Organisation, the Restoration Campaign 2011-12 and also 2015
to 2016, I have led three campaigns across the length and breath of
Bayelsa State and that makes me an household name and a committed loyal member  of the PDP.
I attended COE  where I read English and History, I attended
Uniport where I read English, I attended University of Abuja where I read Master in Public Administration am currently defending my seminar
on my thesis at Uniport. I pride myself as a professional politician, I have
been in politics for about four decades, I believe that am the only
professional politician that is running for the governorship position in Bayelsa state. I am also a professional in many respects, as teacher, character moulder, trainer, a Counsellor. As somebody who studied English, I can expressly express the desire of
my people and as graduate of Public Administration, am an
administration expert and for you to be a governor, you must have that
competence which I have as a development study student, a development expert of course

  Why do want to be Governor of Bayelsa State?

why I want to be a governor is to develop Bayelsa and I believe that if you want to be a governor, then you must understand the essence of a governor, the essence  number one is to realize that you are to be a servant and you must be able to render service, you should not see yourself as boss or rather you should see yourself as the servant of the people that is what I know very well and that is what I have come to do, to be the servant of the people. I also know that the position of a governor is a supervisor, yours is to supervise others, you understand the essence of supervision and you
too must have the capacity to supervise, because the governor does not do everything by himself, the governor identifies competent and capable hands who represent him in implementing policies and actions of Government and until you understand that a governor is a supervisor and that as a
supervisor, your first responsibility is to identify the right people
who have competency and capacity to implement policies of Government is what makes you stand out as a man who  knows your job from day one and so I realize that as a governor your duty is to supervise and understand how to check, monitor and applaud your lieutenants when they have done well, the ability to call your lieutenants to order when you believe that they are straying out of the radar and of course treat where it’s important and necessary to treat policies and their implementation and if you see that they are not achieving the desired goals and because I know and understand this, and I feel that the only way to express this is to serve at a greater height, which is the geographical expression that we refer to as Bayelsa.

  Can you talk about your contributions to  develop your constituency?

I am  serving at my Federal constituency, I have rendered projects to my federal constituency as a member of House of Representatives. I have attracted empowerment to atleast 16 to 20 communities  in my constituency, I think that I have gone to the level that I have come to seek the same role at the center and that is why I have come and have been mandated to fly the flag of Peoples Democratic Party in the November 16, governorship election in the state.

 What is your plan to develop Byelsa?

One of my plans is to render services, to serve my people. I feel that Bayelsa should be empowered. First and most important is the empowerment of Bayelsans.
  Bayelsans don’t have financial
empowerment, if they don’t have skill empowerment, then of course
there is nothing you can bring to Bayelsans that will be worth more
than empowerment.

Ques. What is empowerment?

What is empowerment, it is to make sure that  Bayelsans have access to funds, how do they get access to funds, we have Bayelsans that have core competencies in business that as a governor, you must identify the
core competencies of Bayelsans and patronize them, you don’t only
patronize them, you ensure that the service they rendere is paid for
that is the only way to grow your people, as a contractor, business
men, the state patronises you, we should be able to pay you so that
you can make profit, revenue with which you move forward. Once you
empower Bayelsans very well, they will turn the state’s economy around, they will make the economy robust and they will move to compete at the national level and our government will not only empower them and leave them to go and compete at the national level, we will also assist
them where the governor needs to intervene where they are in a
competition and how they are going to have such ventures.  Bayelsa government will
follow up and ensure that we support them to have  ventures at the end of the day. Not only that, we want to grow Bayelsa, not only
to the national level but also to the international level because if we want to be a
national and world player, we must have financial muscle. No matter how competent you are, no matter how effective you are in delivery of
projects, if you don’t have the financial muscle, you will not be able to compete at the national and global level and so that is what our
target is that at the end of the day, Bayelsans, whatever, it will cost
them  to be in competition at the national level and globally, we would ensure that they have that basis to be able to compete wherever they find themselves in Nigeria and across the globe.

  What  do intend to do about encouraging   investors?

If we are talking about investors, the people that can invest  locally are the Bayelsans and if Bayelsans have access to funds that enable then   build factories, industries, it’s the business men that are going to enter into partnership with other business men to  come and grow industries, to come and build factories and so we want to empower Bayelsans in such a situation whereby Bayelsan business men can pull N2 – N5bn  together to say this is the factory we want  to built and they will use the financial muscle and strength they have to
attract partnership to build that factory, to build that industry.

  What does government need to do actualize this?

What Government needs to do is to create enabling environment, a conducive climate, build infrastructure, social amenities and security that will bring a driving economy base, that is what our Government is going to do. Anything about factory, industries and funding of public projects  that are industry oriented will be the responsibility
of businessmen to partner with other businessmen to bring them. Take for example, we are talking about Aggae Deep Sea Port, where the state government has done so much and has done a lot of works and are still looking for investors to come and invest, if we have Bayelsans who can
pull together 3 to 5 Billion Naira, am sure that we would have achieved
a lot or long mileage as it is today because government funds are not
sufficient to develop Bayelsa as it ought to be.  So, once Bayelsans
have good money, once they have financial muscle and financial
capabilities they can attract partners that can put-in so much
billions to bring such projects into fruition, you will see that
Bayelsan money will be domiciled in Bayelsa and they would be financially empowered to strength Bayelsa economy and to attract other investors to come and partner with our business men to invest in factories and industries and to grow Bayelsa, employment will come. Its by so doing we will have robust economy in Bayelsa,   and as a
government we will also attract revenue to boost our internally Generated Revenue.

 Do you have any  plan to establish a   refinery?

Yes, our government when we come onboard will  also bring to the table the issues of oil production. Bayelsa state has oil wells, we have the attala farm, the marginal oil field and what do we need, do we need to sell crude, which is between 40 to 60 dollars per barrel and failed like the way Nigeria fail in selling raw materials?  For me, the right way to go is to tell our partners with the Bayelsa oil company to build refinery. We don’t need to sell the raw crude, we need to refine. If people who don’t have access to crude oil want to built refinery, what about us that  already have access to crude oil. What we need is a refinery to process the crude and this will bring down the cost of this finished products.  Because in Nigeria, Bayelsa is paying more than any other state and other part of this country because Bayelsa has deep riverine areas and anything you are buying at deep riverine, you can never determine what the cost is, so for me, Bayelsa oil company will encourage our partners
to built refinery, process the crude to     what ever finished products that is going to  come out of the crude
oil.  If we have a refinery,
people will be employed, the petrol, diesel that we are going to
process in Bayelsa will reduce the cost of the finished products in
the state, it will create employment opportunities and of course the
government will also draw revenue from it. I am also saying that as a
chairman House Committee on oil and gas resources in the eight
Assembly in the House of representatives, I went into a number of discussions with the major players in the oil industry. You all
know that the Bonny NLNG is a success story and it’s one of the
highest finance contributors to the Federal Government   
and if the Bonny NLNG will bring two more NLNGs will certainly solve the financial  problems of the country,  whatever amount you want to fund your budget with three NLNGs in  Nigeria can solve that problem and they are desirous of getting it done. In the course of our discussion with SHELL, we have agreed that the bony NLNG should invest in Brass NLNG and shell has also volunteer to invest in that project and so, that dream is ongoing, as chairman of that resources in the House of
Representative, we have taken discussion largely to implementation level such that it’s only when some of us come on board, having realise it to this point,  as a governor I can drive it to completion. And what do you
expect, an NLNG in Brass will open up the brass axis, it will bring
employment opportunity for our teeming youths and will also promote businesses and then as a state we are going to drew revenue from it. That is the way to go.

What will your administration do about  the brass fertilizer company?

The Brass fertilizer company that has been on the dream line, I have discussions to the extent that the former Managing Director of NNPC has said what will need to do to make it come on stream and by that discussion their expectation is not much 
beyond Bayelsa state government’s power and having understood that
this is what they want to have Brass fertilizer company to come on
stream because it will also generate employment again, which will generate business, which will generate income, I think that, that is
the way to go because if don’t address the issue that will create
employment, issues that will,   bring about robust business environment, issues that will create more
revenue base for the government, then of course, we will still be
relying on feeding bottle democracy.  

  How do you mean?

We say we are  a federal government, but we are practicing unitary system of government, at the end of the month, we all go to Abuja to collect whatever they appropriate to us, we do don’t know what they are given to us, they just say this is what belongs to you and you pick it and come back, which is not enough to sponsor our budgets and as for some of us, the first and most important thing to do is to look inward and generate an economy that will be self serving and we talk about this because if investors are coming to Nigeria and they land in Lagos, the moments they talk to Lagos audience and they know that it is  a business that is going to succeed, Lagosians will tell you am buying it half  a billion naira, or one billion or two billion and of course
they don’t have any reason to come to Bayelsa when there is already
money, when there is local content that is going  to boost their
investment of course they have to talk to that audience and then move
away from there, that is the sentiment we are coming to government to solve. Bayelsans will have the capacity to put money on the table in negotiating and creating business partnership that will develop our state.

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CBN Records N165bn Surplus in 2024

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By Tony Obiechina, Abuja

The Central Bank of Nigeria (CBN) has recorded a surplus of N165 billion in 2024 as its bottom-line improved from a deficit position of N1.3trn in 2023.This was contained in its financial statement just released by the apex bank and the 2024 Financial Position Indicates Improved Performance.

According to the apex bank, the turnaround is a direct consequence of effective containment of expenditure, gains on investments made by the Bank and increased income from foreign exchange transactions.
The 2024 financial statement also reflects the Bank’s commitment to economic stability, sound policy implementation, and strategic financial management, highlighting improvements in external reserves, asset quality, cost efficiency and overall bottom-line improvement.
The External Reserves recorded an increase from $36.6bn in 2023 to $38.8bn in 2024. This is largely attributable to improvement in accretion to external reserves from portfolio investors, diaspora remittances and Federal Government receipts following improvement in the confidence in the economy, facilitated by better coordination with the Nigerian National Petroleum Company (NNPC) and diaspora engagement strategies. Also, proper investment management decisions aimed at boosting the reserves of the Bank.This performance reflects the CBN’s firm commitment to external sector stability, ensuring Nigeria is better positioned to meet its international obligations, stabilize the Naira, and boost macroeconomic confidence.The financial statements also show a notable reduction in loans and receivables from N16.1trn to N11.9trn. This is primarily attributed to significant recoveries from earlier intervention lending programs, a deliberate policy shift away from intervention lending and monetary financing through ways and means in line with the Bank’s new stance on allowing market mechanisms to drive credit allocation and financial sector development.The Bank also said other Operating Expenses in 2024 were well-managed and optimized, reflecting a cost-conscious culture. This was achieved through strategic cost rationalization initiatives, including reduction in non-essential spending and streamlined operations across regional branches and departments.In line with the Financial Reporting Council (FRC) regulatory requirement on ICFR, the Central Bank was able to carry out an assessment of its internal controls which was further certified effective by the joint external audit team.As a testament to the effectiveness of this initiative, the joint external auditors issued an independent assurance report declaring the Bank’s ICFR framework to be “effective” for the 2024 reporting period.While the Bank’s 2024 financial results reflect operational improvements, some expenditure lines posed challenges.One of the notable upticks in the Bank’s expenses in 2024 was related to liquidity management operations. These costs rose to N4.5trn from N1.5trn in 2023. This increase was in tandem with the tightening monetary policy stance adopted to combat inflationary pressures throughout the year. In pursuit of that the Bank conducted more frequent and higher-value Open Market Operations (OMO) to mop up excess liquidity arising from fiscal injections at a significant cost.This is a responsibility the CBN is carrying out on behalf of the Federation, in some jurisdictions; this cost is borne by the Government.The financial statements also reflect an increase in the loss on settled derivative contracts during the year from N6.3trn in 2023 to N13.9trn in 2024. This development is a direct consequence of the high volume of derivative contracts settled by the Bank in 2024. These are legacy transactions which the current management met on resumption of their office. This proactive settlement effort was undertaken as part of management’s broader strategy to Reduce outstanding foreign exchange liabilities, thus lowering its FX exposure, boost net foreign reserves, thereby improving Nigeria’s external buffer and investor confidence, restore credibility to Nigeria’s forward markets and address legacy obligations transparently.The improved performance of the Central Bank of Nigeria in 2024 is not coincidental but a product of deliberate and strategic management efforts.With these developments, the Bank’s leadership has reinforced governance and accountability, instilled operational discipline, and pursued a balanced monetary policy stance, ensuring price and financial system stability.According to the Bank, these reforms have collectively repositioned the CBN as a credible monetary authority, with its 2024 financial results serving as proof of its unwavering resolve to support economic recovery, safeguard financial stability, and build public trust.

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Nasarawa Tiv Farmers Stage Protest over Alleged Land Seizure

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By Abel Zwànke, Lafia

Tiv farmers from various communities in Obi Local Government Area of Nasarawa State yesterday, staged a protest against forceful seizure of their ancestral lands by the state government.They also accused the state Government of deliberate refusal to seek their consent before embarking on any activity on their legitimate land.

Part of their demands during the protests were calls for justice and a message to the state Governor, Abdullahi Sule to immediately halt all processes so far taken on the disputed land.
The protesters, drawn from Ayakeke, Osula, China, Shankodi, Udugh, Ikychiha, Utsuwa and Daura communities, had earlier expressed their frustration during the governor’s visit to inspect farmlands intended for the 2025 farming season.
Benjamin Tyoga, who spoke on behalf of the protesting group, said the lands in question have been in the possession of their forefathers for hundreds of years and any attempt to take them without proper dialogue will amount to oppression and illegality.“We don’t believe the governor’s words because the land belongs to our fathers, hundreds of years ago. If it is to be taken, we should have been consulted—not just for him to come and inspect and talk to us because we are protesting.“He said we should send our leaders, but we are the people—all of us here. Why can’t he talk to us directly? It is not fair. This is purely a seizure of our lands by force,” he added.Tyoga further argued that infrastructure developments such as roads, will mean nothing if the people are deprived of their main source of livelihood which is farming.“If you create roads and we don’t have what to eat to survive, what have you done? We are predominantly farmers, and we want the governor to consider the fact that we are citizens of Nasarawa State. We have the right to protest and demand for things that belong to us,” he said.He lamented the difficulty involved in having access to the Governor when they need him the most, stressing that the protest provided a rare opportunity for a direct engagement, which the governor did not fully utilize.He maintained that “Engineer Sule is the governor, but meeting him is difficult. This is an opportunity to talk to us in a language we understand. But what he did was to say we should send our leaders to meet him.”How do we get to him? We are calling on the Governor to leave our land. If he wanted to speak to us, he would not have come first to see the lands before calling to see us. If not for our protest, he wouldn’t have even talked to us. We will not rest until justice is served,” Tyoga stated.Another protester, Terhemba Iveren, echoed the same concerns.According to him, “This is not just land; this is our identity, our history, our home.”You cannot just come and take it without talking to us directly. We are not saying we don’t want development, but let it not come at the cost of our survival,” she said.In his response to the protesters Earlier, Governor Abdullahi Sule cautioned the farmers against inciting unrest and urged them to channel their grievances through recognized leadership.His words, “Send your leaders to represent you to speak to me. Don’t send troublemakers because if you send troublemakers, you all will be in trouble,” Governor Sule warned.He assured the people that the initiative is in their best interest and not a personal venture.“I am the first governor to visit your community and even Jangwa.”There are other things we intend to do for you, good roads and other infrastructure that will better your community. The farm is not my personal property but for the people of Nasarawa State, including you. That is why I came here myself to see things,” he said.The governor maintained that the farmland project is already attracting investment and emphasized that, legally, all land belongs to the state government.“All lands belong to the state government. We can only allow and give time for those that have economic trees, and if need be, we will compensate,” he explained.Despite the assurances, local elders and community members expressed dissatisfaction with the handling of the matter. Elder Iorliam Aondofa called on the governor to organize a town hall meeting for more inclusive dialogue.“The governor must return with his team to genuinely meet with us—not just visit our land and leave. Let there be a town hall meeting where everyone can air their views. That is how democracy works,” Aondofa said.Several other farmers confirmed they were not officially informed about the project and that they were shocked when government officials began visiting their land.“They just came one day and said the land is for a government farm project. That is not how things should be done,” said Terver Gbakough, a young farmer. “We deserve respect and fairness. If there is any plan to take land, it must be with our full knowledge and agreement.”Human rights advocates in the state have begun raising concerns. Comrade Isaac Gbande, a land rights activist, warned that the government’s approach could lead to long-term conflict.“This is not just a policy issue, it’s a human rights matter,” Gbande said. “The government must follow the principles of free, prior and informed consent before displacing any community, even for development purposes. Anything short of that will create long-term resentment and resistance.”Security operatives present at the scene were able to keep the situation under control as tensions ran high. Observers have since called for a more transparent and community-inclusive approach moving forward.For now, the protesting Tiv farmers have vowed to continue demanding justice and recognition of their ancestral rights.“We are not against development,” Benjamin Tyoga concluded. “We are against the injustice of being ignored, displaced, and spoken to like we don’t matter. All we ask is to be treated with respect and fairness in our own state.”

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World Bank: 75.5% Rural Nigerians Live Below Poverty Line

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By David Torough, Abuja

The World Bank has disclosed that a staggering 75.5 percent of rural Nigerians are now living below the poverty line, reflecting deepening hardship in the country’s hinterlands.

This was revealed in the Bank’s April 2025 Poverty and Equity Brief for Nigeria, which paints a grim picture of worsening economic hardship, widening inequality, and persistent underdevelopment across much of the nation.

While poverty is widespread among urban populations, the report emphasised that the situation is significantly worse in rural areas, where economic stagnation, high inflation, and insecurity have exacerbated living conditions.

“Based on the most recent official household survey data from Nigeria’s National Bureau of Statistics, 30.

9 per cent of Nigerians lived below the international extreme poverty line of $2.15 per person per day in 2018/19 before the COVID-19 pandemic,” the report stated.

The report also highlighted Nigeria’s enduring regional disparities. “Nigeria remains spatially unequal. The poverty rate in northern geopolitical zones was 46.5 per cent in 2018/19, compared with 13.5 per cent for southern ones. Inequality measured by the Gini index was estimated at 35.1 in 2018/19.

“Nigeria’s Prosperity Gap — the average factor by which individuals’ incomes must be multiplied to attain a prosperity standard of $25 per day for all — is estimated at 10.2, higher than most peers.”

Despite successive policy interventions, these figures underscore a persistent economic divide across the country.

The report’s demographic analysis found that children aged 0 to 14 years had a poverty rate of 72.5 per cent, reflecting the scale of deprivation among the youngest segment of the population.

Gender disparities were also observed, with 63.9 per cent of females and 63.1 percent of males classified as poor under the $3.65 per day lower-middle-income threshold.

Education emerged as a significant determinant of poverty, with Nigerians lacking formal education experiencing a poverty rate of 79.5 percent. This contrasts with 61.9 percent for those with primary education and 50.0 percent for secondary school graduates. Only 25.4 percent of those with tertiary education were considered poor.

The report also drew attention to multidimensional poverty indicators, which further reflect widespread deprivation.

According to the World Bank, about 30.9 percent of Nigerians live on less than $2.15 daily, 32.6 percent lack access to limited-standard drinking water, 45.1 percent do not have limited-standard sanitation, and 39.4 percent have no electricity.

Education access remains a challenge, with 17.6 percent of adults yet to complete primary education, and 9.0 percent of households reporting at least one school-aged child not enrolled in school.

The report noted that even before the COVID-19 pandemic, efforts to reduce extreme poverty had largely stalled.

“Before COVID-19, extreme poverty reduction had almost stagnated, dropping by only half a percentage point annually since 2010. Living standards of the urban poor are hardly improving, and jobs that would allow households to escape poverty are lacking,” the report read.

Although the World Bank acknowledged recent economic reforms aimed at stabilising Nigeria’s macroeconomic outlook, it warned that persistently high inflation continues to undermine household purchasing power, particularly in urban areas where incomes have not kept pace with rising costs.

In light of the worsening situation, the Bank called for urgent policy action to shield vulnerable groups from inflationary shocks and to drive job creation through more productive economic activities.

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