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Only nine Nigerian states are fairly prosperous- Rewane



The Financial Derivatives Company Limited (FDC), Mr. Bismarck Rewane, has stated that only nine states in the country could be classified as fairly prosperous. These states, according to him, are Kwara, Oyo, Osun, Ekiti, Ogun, Ondo, Ed, Lagos and Anambra
Rewane made this statement in a paper titled “: Resource Rich & Cash Poor; Plenty Potential …Little Actual,” which he presented to mark the 60th Independence Anniversary of .

He also said 12 states fell within the category of highly miserable in the country. These states are Yobe, Borno, Jigawa, Kano, Bauchi, Gombe, Plateau, Adamawa, Taraba, Sokoto, Zamfara and Niger.

The remaining 15 states, namely Katsina, Kebbi, Kaduna, FCT, Nasarawa, Kogi, Benue, Enugu, Delta, Imo, Akwa Ibom, Bayelsa, Rivers and Ebonyi, were classified as fairly miserable.

Anambra State, according to him, has the least incidence of in the country with 14.2 per cent while Taraba State scored the highest on the misery index with 39.1 per cent.

The prosperity/misery index, as presented by Rewane, showed the level of prosperity or poverty in the country. Hundred per cent on the index represented perfect or total miseries while zero per cent represents perfect prosperity. Above 40 per cent stand for acute misery or poverty while Nigeria’s average scores of 26.3 per cent fell within the fairly miserable category.

Rewane recommended the emergence of dynamic leadership and strong institutions in order for the country to achieve positive economic outcomes, adding that “Nigeria needs a big-push that could awaken the sleeping giant “to break out of the vicious cycle of poverty.”

The CEO said the big push would provide economic stimulus, eliminate constraint and structural bottlenecks and build robust fiscal and external buffers through fiscal discipline, prudency and diversification of the country’s revenue base
Rewane, however, said that the country is currently faced with a binary choice, which is either to “do nothing” or pursue “revolutionary change” in the management of the economy.

He said the choice to, “do nothing” would mean a guaranteed failure or that the country would remain in the same state while a choice for revolutionary change have 45 per cent probability to succeed.”

Rewane pointed out further that the choice to do nothing would mean that the power sector reform would be partly implemented with modest new investments in power sector while some rail projects with limited linkages would be commissioned .It would also mean “partial exchange rate convergence, continued rationing of foreign exchange while intending international investors to remain tentative.”

He stated that the possible outcome of the choice would be to stymie the country’s opportunity to launch its economic take-off.

On the other hand, Rewane argued that a pitch for the revolutionary change in the management of the Nigeria’s economy would deliver the needful big-push for sustained economic take-off, increase total factor productivity by 2,5 per cent and encourage massive investments that could enhance gross fixed capital formation to 35 per cent of the GDP.

He noted that this would entail the passage of the Petroleum Industry Bill, the sale of failed refineries as scrap, the commercialisation of NNPC and the launching of the reform of the oil and gas sector. This would also, according to him, imply the removal of subsidies, the deregulation of petroleum products’ prices and the unification of the foreign exchange market by the CBN under flexible exchange rate regime.

He also postulated that the revolutionary change might encourage the International Monetary Fund, the World Bank and the African Development Bank to, “provide additional support of $3billion to $5billion” and the restructuring of the Eurobond while the foreign direct investment into the country might surge to $5billion and $7billion in 2021/2022.”

He identified the transformational steps to the country’s economic “take-off” as the removal of constraints, exchange rate unification, power reforms, the elimination of petrol subsidies, etc.






Rivers State Governor, Nyesom Ezenwo Wike, has announced N20 Million compensation to the families of each of the soldiers and policemen killed by members of proscribed Indigenous Peoples Organization of Biafra (IPOB) in Oyigbo last week.

In addition, the Governor has promised to rebuild all burnt police stations in Oyigbo and vowed to ensure that the terrorist organisation no longer exist in Rivers State.

Governor Wike stated this during a condolence visit to the Rivers State Commissioner of Police, Joseph Mukan and families of the slain policemen at the Rivers State Police Command on Wednesday.

The governor who was accompanied by the Secretary to the State Government, Dr Tammy Danagogo; the Commissioner of Information, Paulinus Nsirim; and the Attorney General and Commissioner of Justice, Professor Zacchaeus Adangor, described the gruesome murder of the policemen and soldiers as unacceptable and unfortunate.

He stressed that the State Government will support the Police to make sure that all IPOB members who masterminded the killing of the policemen and soldiers, as well as the wanton destruction of Police stations in Oyigbo are apprehended to face the full wrath of the law.

“IPOB masterminded the killing of our gallant officers of the Nigerian Police and Army. We want to state clearly that Rivers State Government will support you to make sure that any of the perpetrators of this hideous crime does not go free. Enough is enough. You cannot continue to kill our policemen who have not done anything; who have not committed any crime” he said.

Emotionally stricken by the presence of the grieving wives and children of the killed policemen, Governor Wike, vowed to ensure that IPOB will no longer exist in any part of Rivers State. According to him, the killing of policemen was one crime that the State government will never condone.

The Governor announced that the State Government has decided to pay the sum of N20 million to each of the families of those killed by IPOB members in Oyigbo.

He further assured the Police Commissioner that the State Government will rebuild all the police stations torched by IPOB, and provide necessary support to policemen whose residence were vandalised and rendered homeless.

The Commissioner of Police, Joseph Mukan, said the Governor by his decision to commiserate with the Command and the deceased families, has demonstrated he is a compassionate father of the State.

Mukan explained that the Police and the Army have taken over all IPOB stronghold in Oyigbo and will ensure that the group cease to exist anywhere within the State.

The Police Commissioner maintained that the Command will not abdicate its responsibility by ensuring that IPOB which had been declared a terrorist group by the Federal Government in 2017, continue to use Rivers State as launch pad for its terrorist attacks.

Special Assistant (Media) to the Governor.
October 28, 2020

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Rivers state governor, Nyesom Ezenwo Wike, has charged the 23 council chairmen, and youths in the state to fish members of the proscribed Indigenous Peoples Organisation of Biafra (IPOB) in the State.

Governor has also warned that any council chairman that allows IPOB to hold processions and hoist its flag within their jurisdiction in Rivers State, risk sack.

He made this assertion during a meeting with all the 23 Local Government chairmen, Community Development Committees and youths leaders at the Government House, in Port Harcourt on Monday.

The governor described Rivers state as the most accommodating state for all Nigerians. To buttress this, he stated that here has never been any historical incident of different ethnic groups clashing in the State as has been the witnessed in other parts of the country.

“We can never be against any ethnic group. We can never do that .we have lived in harmony with the Ibos, the Hausas, and with Edo people. Everybody that comes to this state we have lived in harmony with. And so Nigerians must commend Rivers State as a place where you have never had problem between this group and that group ” he said.

Governor Wike, however, maintained that while the people of Rivers State believe in the unity of the country, they will not allow criminals under the aegis of a terrorist group called IPOB to continue to threaten the stability of the state.

“There is one terrorist group they call IPOB. I did not declare them terrorist group, the court declared them terrorist group. Not me. The federal government declared them a terrorist group. IPOB cannot use Rivers state to be place where they will be launching attack. If you allow that, your future, your children’s future is gone” he said .

Infuriated by IPOB’s effrontery to hoist its flag in Oyigbo, the governor directed the council chairman to ensure there will not be another occurrence of this treasonous act.

“Go to Oyigbo and see what they have done. Destroyed the court. What did the court do? See the soldiers they killed and burnt them. See the policemen they killed and burnt them and then you said people will sit and fold their arms”.

The governor, while calling for vigilance on the part of Rivers people, however, warned sternly that IPOB members should not delude themselves because Rivers state cannot be colonised or annexed by any group, particularly, while he is still the incumbent governor of the State.

He asserted that Rivers state can never be annexed to any state, to any zone. According to him, Rivers state is Niger Delta and will remain in Niger Delta.

He explained that while every Nigerian is allowed to reside in Rivers State, but those who wish to do so must live in peace with the people of the State.

“Ibos are living and doing their business here and they will continue to live and do their business here. We support that.
But that terrorist group call IPOB, cannot determine what happens in our state. To tell us where they own. It will never happen and we must not allow it to happen”.

Governor Wike charged all chairmen of councils, youth leaders, CDCs to go into their various communities and identify all those IPOB members. He has meanwhile emphasied that nobody of Ibos extraction legitimately residing and doing business in the state must be harassed.

“But there are criminal elements that we must not allow, and the criminal elements are those who said they are IPOB members. Federal government has proscribed them, I have proscribed them” he said .

He called on the people to defend the territory of Rivers State and ensure no part of the State is annexed by a criminal organisation or terrorist organization.

“We cannot allow it. All our vigilantee groups must be encouraged. Everybody must be at alert. Work with the security agencies to make sure nothing call IPOB exist in this state. No procession. Not even a meeting anywhere. Identify where they hold meeting” he said

Rivers State Commissioner of Youth Development, Hon. Ohia Prince Obi, lauded the governor for interfacing with the youths as this will give them a sense of belonging in the affairs of the State.

The chairman, National Youth Council of in Rivers State , Chijoke Ihunwo, appeal to Governor Wike for clemency for wanted , Stanley Mgbere, who led IPOB members to attack the palace of the king of Onne, was rejected.

Kelvin Ebiri

Special Assistant (media)to the Governor

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