NEWS
World Bank Inaugurates Next Phase of Private Sector Investment Lab, Expands Membership

The World Bank Group on Wednesday announced the inauguration of the next phase of its Private Sector Investment Lab(PSIL), focused on implementing proven solutions at scale.
This is contained in a statement issued by the World Bank Online Media Briefing Centre made available to Newsmen on Wednesday.
The statement said the new chapter also expands the Lab’s membership to include private sector leaders in sectors critical to job creation in developing economies.
It said these sectors included infrastructure and energy, agribusiness, healthcare, tourism, and manufacturing.
“These industries have a proven ability to translate investment into broad-based employment and economic opportunity.
“This aligns directly with the Bank’s sharpened focus on job creation as a core driver of development.”
The statement quoted World Bank Group President Ajay Banga as saying, “with the expanded membership, we are mainstreaming this work across our operations and tying it directly to the jobs agenda that is driving our strategy.
“This isn’t about altruism, it is about helping the private sector see a path to investments that will deliver returns, and lift people and economies alike. It is central to our mandate.”
It said over the last 18 months, the Lab brought together leaders from global financial institutions to identify the most pressing barriers to private sector investment in developing countries and to test actionable solutions.
The statement said that the work had now been consolidated into five priority focus areas that were being integrated across the Bank Group operations and they include, Regulatory and Policy Certainty.
Others are Political Risk Insurance, Foreign Exchange Risk, Junior Equity Capital and Securitization.
It listed the new members of the Lab to include Bill Anderson, CEO, Bayer AG and Sunil Bharti Mittal, Chair, Bharti Enterprises.
Others are Aliko Dangote, President and CEO, Dangote Group, and Mark Hoplamazian, President and CEO, Hyatt Hotels Corporation.
The statement said the Lab’s founding members included senior executives from AXA, BlackRock, HSBC, Macquarie, Mitsubishi UFJ Financial Group, and Ninety One.
Others are Ping An Group, Royal Philips, Standard Bank, Standard Chartered, Sustainable Energy for All, Tata Sons, Temasek, and Three Cairns Group.
It said the Lab is chaired by Shriti Vadera, Chair of Prudential Plc.
The statement quoted Shriti Vadera, Chair, Prudential Plc. and Chair, Private Sector Investment Lab as saying, “We are grateful to the Lab leaders who helped deliver such important results in the first phase.
“We welcome our new members’ support in continuing our focus on five key areas.”
The statement also quoted Sunil Bharti Mittal, Chair, Bharti Enterprises, as saying, “The World Bank Group is leading the way with initiatives to grow economies and create opportunities in emerging markets around the globe.
“I have seen firsthand the power of connectivity to transform lives by creating opportunities for businesses to grow and communities to thrive.
“I hope that the successes of the telecommunications sector will be valuable as PSIL embarks on the next stage of its important work,” he said. (NAN)
NEWS
Ebonyi Refutes Flood Claims at State Airport
From Godwin Okeh, Abakaliki
Ebonyi state government has berated the social media critics and oppositions in the state for lying and alleging that there is flooding in the Chuba Okadigbo’s airport, Onueke Ezza South LGA.The government, however, urged all the regulatory bodies in Nigeria and the general public to ignore the lies by the social media critics and oppositions, who have continued to paint the great image and reputation of the Chuba Okadigbo’s airport in bad light.
Ebonyi state government through the Commissioner for Aviation and transport technology, Ngozi Obichukwu, who made this known shortly after bidding farewell to the governor, Francis Nwifuru, who took off his flight from the Chuba Okadigbo’s airport, said that those alleging that there is flood in the airport are born liars.Obichukwu who equally took some stakeholders of the state round the airport on assessment, warned those born liars critics to desist from purveying the airport in bad light, adding that no amount of criticism will stop the governor, Francis Nwifuru from succeeding in his administration.According to her, “Chuba Okadigbo international airport is one of the best in the country. And it remains the best.Telling lies, criticizing, and writing jargon does not change anything. If there is any problem you have, maybe anything you need, you can go straight to the government and request for it. And not criticizing.”It’s not true. There was nothing like flooding in this airport. This is a clean project that we are already putting in use. Aircrafts have been landing and taking off in this airport, we just received two flights this morning.”You saw one that was parked there. Another one is coming before 5 o’clock today. Like I’ve been saying, we have rules and regulations from the regulatory bodies of aviation.”The airport is not an ordinary keke park, or bus park, or ordinary motorcycle park. It is something that is scientific. And it is something that is technical.”The airport is where we want to ensure the safety of life. Let there be safety. And for you to get it right, you must do according to these laid down regulations. Right now, we are just ending with chartered flight regulation.”We are entering into another regulation of passenger lifting. And that is why if you go to some of our platforms, you see where I posted our flight operation in June.”Those of our passengers that are air friendly, the world air travelers, can board United Nigeria Airlines to Ebonyi from Abuja. They can board Abuja, or rather Ebonyi to Abuja. And then, they can board Lagos to Ebonyi, and Ebonyi to Lagos.”Again, further information about where you board, how you are going to pay, how you are going to land and all that, will be posted very soon. So, we are good to go. We are taking it one at a time.”We cannot run faster than our shadows. And we cannot do something that will close the airport. Any slightest mistake will close this airport from the federal regulators. That is why His Excellency, Rt. Hon. Francis Nwifuru, who is a determined man, a successful man, a seasoned/ divine administrator, is taking his time to make sure that whatever they require, whatever they ask him, he does it.”So, we are not in a hurry. We don’t want to make mistakes. The edifice is serving its purpose already. Very soon, the passengers will outnumber even the people that are not aware that Ebonyi is existing; will be aware that Ebonyi Airport is on. But let us take it one at a time.”Those who are saying that the Chuba Okadigbo’s airport is not working are liars.They are born liars. Some of them have never even crossed this gate. Some have never even entered the door of flight. And some will be telling you there is nothing. How will you know that the airport is working when you have not even been here?”And so, my governor is not moved by whatever negative criticism. He is determined to succeed. And he is succeeding. And nobody will stop him from getting to the goal. We are already there” she stated.NEWS
Security: Bayelsa Reaffirms Commitment to Fostering Inter-Agency Collaboration

From Mike Tayese, Yenagoa
Bayelsa State Government has reaffirmed its commitment to strengthening collaboration among the various security agencies for the security of lives and property in the state.Governor Douye Diri stated this on Monday when participants of Study Course 47 of the Armed Forces Command and Staff College, Jaji, paid him a courtesy visit in Government House, Yenagoa.
Diri, who spoke through his deputy, Sen. Lawrence Ewhrudjakpo, noted that Bayelsa had a robust and resilient security architecture, saying his administration was poised to make the state safest for business and residency in Nigeria.But to achieve this, he said the state government would continue to support the security agencies and ensure “that all hands are always on deck”According to the Bayelsa helmsman, the government exists mainly to ensure security of lives and property, and the welfare of the people, which requires complementation and not competition among security agencies.Diri, while expressing hope that the visit of the Senior Course 47 Defence Study Team to Bayelsa would further help the state improve on its security architecture, added that advanced security equipment were being installed for more effective surveillance in the state.His words: “On behalf of the government and people of our state, I welcome you to Bayelsa. We believe that your study is much focused, and the area of focus appears to be the one we have put our foot forward in the comity of states.”Government exists for two reasons: The primary responsibility of government is to provide security of lives and property, and to promote the well-being of the people.”We are happy that you are coming to look at our security architecture and to encourage us to improve on it. We have quite a robust, resilient and proactive security system. But we will continue to build on it until we make our state unarguably the safest in this country.”I believe you will have the time to see what we are doing to ensure that all hands are on deck. We believe that security is an issue of complementation and not an issue of competition.”When there is rivalry or competition among the security agencies, then the security architecture would be weakened and even defeated, because there is going to be infighting.”So we are working very hard to promote cooperation among the security agencies. So there is collaboration and not confrontation among the security agencies in Bayelsa. The security agencies are closely working cooperatively together here.”Speaking earlier, the Coordinator of Study Course 47, Armed Forces Command and Staff College, Jaji, Brigadier General E.A. Orakwe, said they were in Bayelsa on a study tour to ascertain how the state has been harnessing grassroots intelligence for enhanced internal security.Brigadier-General Orakwe, who noted that Bayelsa was selected among the few states for the study, thanked the state government for giving the team the needed support and cooperation to successfully carry out its assignment in the state.He promised that the team would make available a copy of their research findings in a detailed report at the end of the study tour.NEWS
NOA Urges Umuahia South LGEA Staff to Tap into Students Loan Scheme

From Chidi Precious, Umuahia
Staff of the Umuahia South Local Government Education Authority (LGEA), have been urged to fully embrace the Nigeria Education Loan Fund (NELFUND) initiative, as federal government data reveals the South-East zone continues to lag behind in accessing the national student loan scheme.
The call was made by Onyeka Anaga, the Community Orientation and Mobilisation Officer (COMO) for the National Orientation Agency (NOA) in Umuahia South LGA, during a sensitization session held at the LGEA headquarters. He was accompanied by fellow NOA officers, Bishop Alozie Uloma Mercy and Adanma Onyema.With millions still unaware or misinformed about the NELFUND programme, the sensitization effort in Umuahia South is part of a broader push to balance regional participation and ensure equitable access to educational opportunities across Nigeria.“This is your share of the national cake. Don’t let your children miss it,” Anaga told the gathered staff, decrying the low enrollment figures of South-East students compared to their counterparts in the North-East and North-West regions.Established in 2024 by President Bola Ahmed Tinubu, NELFUND was designed to provide accessible student loans to Nigerian undergraduates, with the aim of reducing financial barriers to tertiary education. The scheme is funded through national budgetary allocations, contributions from the Tertiary Education Trust Fund (TETFUND), and recovered funds from the Economic and Financial Crimes Commission (EFCC).As of April 2024, over 500,000 students have registered with the scheme. According to NELFUND records, more than 400,000 beneficiaries have received N21 billion in student upkeep allowances, while another N29.9 billion has been disbursed for tuition payments.Addressing common fears over loan repayment, Anaga urged parents and students not to be deterred. “Repayment is not immediate. The first step is to access the loan and support your child’s education. Worry about repayment later,” he assured.He also dispelled rumors that the scheme was a scam, asserting that it is fully backed by the federal government and designed to reach every eligible student across Nigeria.Highlighting the NOA’s role in grassroots awareness, Anaga emphasized the agency’s ongoing partnership with NELFUND to drive community-level participation. “We are committed to making sure every community understands and benefits from this policy,” he stated.“The future of our children depends on the choices we make today. Let’s not allow this opportunity to pass us by”, Anaga further advised.Speaking on behalf of the education authority, the Education Secretary of Umuahia South LGEA, Patrick Ubiaru, expressed gratitude to the NOA for the awareness campaign. He described the session as “timely and impactful,” encouraging staff to share the knowledge with families and neighbours