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Investors’ Confidence In Rivers Rises …As Abraaj Acquires Stakes In Indoroma
Abraaj Group, a leading investor in global markets, has acquired a minority stake in Indorama Fertilizers, the largest urea fertilizer manufacturer in Sub-Saharan Africa, including Port Harcourt in Nigeria.
The company announced, yesterday, that it acquired the stake with its funds.
The stake was purchased from Indorama Holdings B.V. Netherlands, a wholly owned subsidiary of Indorama Corporation (“Indorama”), one of the world’s fastest growing petrochemical companies.
The Indorama petrochemicals operate in Asia, Africa, Europe and North America.
Indorama Fertilizers operates a world-class, 1.4 million metric tonnes per annum urea manufacturing facility based in Port Harcourt, Nigeria.
The plant has been developed to global environmental, social and construction standards.
It plays a key role in supporting the agricultural sector in Nigeria by providing a reliable supply of fertilizers for local farmers, thereby enabling import substitution and supporting the diversification needs of the Nigerian economy.
Indorama Fertilizers is also advantageously located to serve neighbouring West African countries and key Western hemisphere markets, including North America, South America and Europe.
The fertilizer industry is expected to experience long-term demand growth as increases in populations and incomes drive demand for food.
Urea is the most widely used fertilizer globally and continues to grow in market share due to its high nutrient content and ease of handling and storage.
Indorama Fertilizers is uniquely positioned to become a global fertilizer leader, given its execution capabilities, competitive production costs, and the strength of its management team.
Indorama Fertilizers will establish Nigeria’s reputation as a key producer and exporter of fertilizer, channelling foreign exchange into the country, while also enabling Nigeria to meet the significant requirements of the domestic fertilizer market.
Abraaj, which has been investing in Africa for the past two decades, will use its expertise and networks to support Indorama Fertilizer’s market penetration and future expansion plans, as well as help ensure best-in-class corporate governance.
The Founder and Chief Executive Officer of Abraaj, Arif Naqvi, said, “this is a landmark transaction for Abraaj in Sub-Saharan Africa.
“We are privileged to be partnering with Indorama Corporation to create a global fertilizer leader in Africa.’’
Since the establishment, Indorama Fertilizers has led the local market in an industry characterized by high levels of demand and insufficient supply of quality fertilizer in the region, he said.
“Having successfully invested in the fertilizer business in North Africa, we look forward to leveraging that know-how and working with the management team in developing the company’s route-to-market infrastructure, build its network and support its capacity expansion and product diversification plans in the region.”
The Group Chairman of Indorama, Mr Sri Prakash, welcomed Abraaj as an investor to fertilizer business.
He said they endeavour to create a world-class manufacturing and distribution network for fertilizers in the African continent, to meet the needs of underserved farmers and help propel the growth of the agricultural sector even further.
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Akpabio Withdraws All Defamation Suits After Priest’s Sermon
The Senate President, Senator Godswill Akpabio, has directed his lawyers to withdraw all ongoing defamation lawsuits against several individuals, saying he was moved by counsel during a New Year Mass.
Speaking at the Sacred Heart Parish in Uyo, yesterday, Akpabio said he had filed nearly nine lawsuits against individuals he accused of defaming him.
He said, “I had almost nine cases in court against some individuals who defamed me, who lied against me, who slandered my name.
“But I listened to the priest and suddenly realised he was talking to me, so I hereby direct my solicitor to withdraw all lawsuits against them.”
In 2025, Akpabio had filed several high-profile defamation lawsuits, including one against colleague Senator Natasha Akpoti?Uduaghan.
In late 2025, Akpabio filed a N200 billion defamation lawsuit against her over allegations of sexual harassment, which he denied and urged her to substantiate in court.
Earlier in the year, Akpabio’s wife also filed defamation suits against Akpoti?Uduaghan over claims she said had harmed her family’s reputation.
Relations between the two lawmakers soured after Akpoti?Uduaghan accused Akpabio of influencing her suspension from the Senate in March 2025, following her public allegations of misconduct.
The Senator had previously challenged actions taken against her in court, including a N100 billion defamation suit she filed against Akpabio and other defendants over alleged remarks that she said damaged her reputation.
With yesterday’s announcement, Akpabio has formally ended all pending legal disputes arising from defamation claims, signalling closure to the publicised litigations as the year begins.
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‘Best Way To Show Gratitude Is To Deliver Tinubu in 2027’
Rivers State Governor, Sir Siminalayi Fubara, has declared that the best form of gratitude Rivers people owe President Bola Ahmed Tinubu for protecting the interest of the State is to galvanize massive support for the President in 2027.
Fubara disclosed this last Monday during the commissioning of Permanent Secretaries Quarters built by his administration at Elimgbu in Obio Akpor Local Government Area of the State.
He said that the State has what it takes to deliver the President during the 2027 general elections.
“We’ve taken a decision,our decision is for the good of Rivers State, our decision is to say thank you for the protection we have from Mr President, our decision is to prove that we have what it takes to deliver Mr President.”
Fubara expressed delight over the completion of the project, stating that the initiative was to provide accommodation, a basic need of life for public servants in the state to improve their productivity.
He explained that lack of effective social welfare was at the root of some incriminating actions that undermine the purpose of governance, noting that the commissioning of the newly built Permanent Secretaries Quarters marks a significant milestone in civil service welfare and institutional development.
“Insecurity begins when individuals are uncertain of what the next hour holds. This situation is especially challenging for family men and women, affecting confidence and decision-making,” he observed.
Fubara emphasized the need for proper maintenance of the facility and urged the beneficiaries to protect the project like a personal property, while directing the State Head of Service to appoint a facility manager to ensure long-term maintenance.
In her remarks, the Special Guest of Honour and Head of the Civil Service of the Federation, Mrs Didi Esther Walson-Jack, who unveiled the project, expressed appreciation to the governor and Rivers State for inviting her to commission the project.
She commended Fubara for prioritizing the welfare of Permanent Secretaries who are senior public servants and accounting officers, noting that the project reflects purposeful and visionary leadership, and urged other states to borrow a cue from the Rivers State Governor.
Walson-Jack described the initiative as a strategic investment in staff welfare and institutional continuity which she noted is in line with Renewed Hope Initiative on provision of mass housing and social stability.
“The commissioning of these houses reflect a deliberate commitment to the dignity, welfare, and productivity of senior public servants responsible for policy coordination and service delivery,” she said.
In his goodwill message, the National Secretary of the All Progressives Congress (APC), Senator Ajibode Bashiru, who led a high powered delegation on a visit to the governor, congratulated Rivers people for aligning with the Pan Nigerian political party, assuring that the interest of Rivers State will be duly protected in the APC.
He described President Bola Tinubu as a detribalised Nigerian who anchors his leadership on equity, fairness and justice, adding that the APC will provide a level playing ground for all.
The APC chief scribe also commended Fubara for providing good accommodation for public servants, stating that it will address issues of sabotage, compromise and disloyalty on the part of public servants.
Giving the project description, Permanent Secretary, Rivers State Ministry of Works, Dr. Austin Ezekiel-Hart, said the estate comprises 29 units, including nine standalone duplexes and 20 terrace buildings.
Facilities feature a water treatment plant, synchronized power generators, CCTV and alarm systems, a gym, recreational areas, and green spaces—designed to enhance comfort, performance, and productivity.
Earlier, the Head of the Rivers State Civil Service, Dr Mrs Inyingi Brown, had thanked the governor for his visionary initiative and unwavering commitment to the welfare of Rivers State Civil Servants, and restated the commitment of the State civil servants to the success of Fubara’s administration.
By: Taneh Beemene
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