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    MarketForces Africa » Economy » Retreat: NIWA Pledges Robust IGR to Boost Nation’s Economy

    Retreat: NIWA Pledges Robust IGR to Boost Nation’s Economy

    Julius AlagbeBy Julius AlagbeJanuary 11, 2024 Economy No Comments3 Mins Read
    Retreat: NIWA Pledges Robust IGR to Boost Nation’s Economy
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    Retreat: NIWA Pledges Robust IGR to Boost Nation’s Economy

    The National Inland Waterways Authority (NIWA) on Wednesday pledged to work tirelessly to harness ocean resources in raising the authority’s Internally Generated Revenue (IGR).

    NIWA’s Managing Director, Mr Bola Oyebamiji, made the pledge during an interview with newsmen shortly after the authority’s 2024 3-Day Special Retreat held at Edge Drive Hotel, Lokoja, Kogi.

    The managing director explained that its work would be targeted at boosting the nation’s economy, while ensuring safe water transportation.

    All the authority’s general and area managers signed a bond with the managing director at the retreat towards a better performance and service delivery as public servants.

    “We have to do this because the honourable minister of marine and blue economy with the permanent secretary signed a performance bond with the president of the Federal Republic of Nigeria.

    “This bond is to measure performance, evaluate performance, and see that all the ministers of the Federal Republic of Nigeria key into the vision of the Federal Government.

    “At the same time, they are expected to achieve the best in line with the thematics of Mr. President.

    “Therefore, my expectations from NIWA staff that have already signed the performance bond with me is for them to achieve the best for NIWA in all areas.

    “This is because Marine and Blue Economy is a ministry that is going to carry out the commercial leg of governance, and I can assure you that the minister is positioned for that,” he said.

    Oyebamiji said that the authority would partner with investors, local and foreign, to drive the opportunities in the ministry, and boost the economy by generating huge revenue.

    He said that this was the reason Mr. President created the ministry, adding that by God’s grace, it would add value to the Nigerian economy.

    He noted that there was going to be a lot of benefits to the citizens, such as employment creation, boosting the nation’s Gross Domestic Product (GDP).

    “The ministry is going to add value, especially in the areas of fisheries, aquaculture, and so many others that have been planned in its roadmap.

    “I can assure you that in the next couple of months and years, you will see the indicators that the ministry is firmly rooted to drive the Nigerian economy,” he said.

    Oyebamiji stressed that it expected the staff to achieve the best for the Ministry, while also achieving the best for Nigeria’s desired growth and development.  Naira Lost 11% as Banks Issue New Update on FX Spending

    He stated that in his effort to repositioning NIWA, the first thing that agitated his mind was safety.

    According to the managing director, in the last couple of months, the authority has seen series of boat mishaps.

    “This is uncalled for! This is criminal! I can tell you that there is going to be a committee going forward that is going to handle safety, registration of boats and partnering with the local boat builders to ensure standard boats.

    “We have drivers of these boats that are trained, and we have a rescue committee that is agile, vibrant, and can be tested anytime for the safe movement of people and goods on the waterways, ” he said.

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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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