Building Leaders - Role of Integrity, Courage and Determination

Speech by Babs Omotowa at Rivers State University on Friday, 8th November 2024 -------------------------------- Salutation The Executive Governor of River State, HE Sir Siminlayi Fubara, GSSRS Deputy Governor, River State, Prof Ngozi Odu, DSSRS Pro-Chancellor and Chairman of Council, RSU, Hon Justice Mary Ukaego Peter Odilli, CFR, DSSRS, JSC (Rtd) The Vice-Chancellor, Professor Nlerum Sunday Okogbule, DSSRS, FCIArb The Special Guest of Honour, HRM Dr Edmund Dakoru, King of Nembe Kingdom Principal Staff Officers of the University Distinguished ladies and Gentlemen, Please permit me to follow the established protocol. It is an honor and a privilege to be a Special Guest Speaker today. This is my first visit to Rivers State University (RSU), and I want to commend the State Government and the university staff for their dedication since the institution's founding in 1980, recognizing that its origins trace back to the Rivers State College of Technology, established i

Nigeria's debt stood at $91.46bn in Q1 2024. This includes $42.12bn external debts of $15.12bn Eurobond; $15.10bn World Bank, $5.05bn China Exim Bank; $2.03bn IMF, $1.63bn AfDB; $0.993bn African Development Fund; $0.65m France AFD, and $1.55bn International Bank for Reconstruction. Islamic Development Bank, etc. Whilst most of the debts have accumulated since 2006 Paris Club $30bn debt relief, the House of Reps recently reported that the government has borrowed $6.45bn in the last year, mainly from the World Bank. In addition, Afreximbank disbursed a $3.175 bn loan by June 2024 under an NNPC syndicated $3.3bn crude repayment facility. Yet during the last year, crude oil prices have averaged $76pb, Henry Hub gas prices at $3/MMBtu, and Asia LNG prices above $10/MMBtu since January 2021. They peak at $54/MMBtu in August 2022, well above the previous historical peak of $19/MMBtu in May 2012. In the same year, Nigeria's crude oil production averaged 1.5mbopd against a capacit