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We Stand On Fiscal Federalism – Wike …Says APC Has No Electoral Value

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The Rivers State Governor, Chief Nyesom Wike, says only fiscal federalism will guarantee even development and equitable status of all states of the federation.
Wike made the assertion during his mid-term report and town hall meeting with the citizens as part of his two years anniversary and Democracy Day celebrations held at Dr. Obi Wali International Conference Centre, last Monday, in Port Harcourt.
Aside state government, the governor also said fiscal federalism should be extended to the local government councils as the third tier of government.
According to him, “our geographical terrain is very difficult and we consider the neglect of Rivers State in federal projects as if Rivers State is not part of the federation.”
Wike held that if fiscal federalism is enforced, it will lead to faster development as each state of the federation has unique terrain and challenges that requires special funding.
On the achievements of his government so far, the governor remarked that “Our state is sound, strong and progressive.”
He explained that there was no sector that has not been touched with infrastructure and roads leading in the administration’s priorities.
So far, he said about N120billion has been expended on capital projects in the city and rural areas, adding that, “for the first time both rural and city roads are being attended to shore up infrastructural deficit.”
Listing the areas covered so far, Wike said in health sector, the administration has released $4million for equipping of Braithwaite Memorial Specialist Hospital, renovating 13 general hospitals across the state.
In education, he revealed that the state has paid its counterpart funding to the Universal Basic Education and was accessing fund to rehabilitate schools.
Before then, he said renovation of Nyemoni Grammar School at Abonnema, Birabi Memorial Secondary School at Bori, and Rumuokwuta Government Girls School, were among a pilot scheme to return boarding system to secondary education.
Security wise, he said despite attempts by the Federal Government to frustrate his quest to beef up security, the state government has purchased over 100 security patrol vans to security agencies, acquired 10 gunboats for patrol on the waterways to check sea piracy.
In the next two years, he disclosed that the administration plans to diversify and boost the economy of Rivers State, insisting that, “We must find other ways of finding economic development, and our commitment is for the economic renaissance to remain at the top.”
He said the plan will be built on infrastructure, tourism and foreign investment drive.
Besides, he stated that the state will soon become judiciary hub in Nigeria considering the provision of infrastructure for the judiciary, opening of the court including a planned estate for retired judges which will be unveiled by the Chief Justice of the Federation.
Earlier, Chairman of the occasion and former Chief Judge of the state, Justice Iche Ndu, had congratulated the governor for the 50th anniversary celebrations.
Ndu said the governor has impressed Rivers people so far in his service and style of governance.
Also speaking, Secretary to the State Government, Kenneth Kobani, said, “We are celebrating transformation and purposeful leadership.”
Kobani remarked that in the past two years, Wike has governed in defence of rights of Rivers people, and has remained focused to deliver on his electoral promises despite distraction from the federal level.
Meanwhile, the Rivers State Governor, Chief Nyesom Wike, has declared that aside the planned reliance on the security agencies to rig elections in 2019, the All Progressives Congress (APC) has no electoral value.
He said the disgraceful poor performance of the APC has totally devalued the party, adding that Nigerians have discovered that the APC is full of empty promises, with no accompanying implementation.
Commissioning the Igbogo road in Obio/Akpor Local Government Area, yesterday, Wike said: “Several promises, not one fulfilled. I have challenged the APC to come to Rivers State and say what they have done.
“If not for the dependence on security agencies for rigging of elections, no APC member will come forward to contest elections”.
The governor said where democracy is practiced in line with the rule of law, PDP members would have gone to sleep, knowing they would walk over APC in 2019.
On developments in Rivers State, Wike said while other states ended their Democracy Day, last Monday, his administration will continue the commissioning of several projects in the coming weeks.
He said that for the people of Akpor Kingdom, the administration has executed projects in all the ten communities of the area.
He noted that the Rivers State Government will begin to reach out to all supporters, which will be in form of direct empowerment.
Also speaking, Commissioner of Works, Iheanyichuwu Bathuel, said that the Igbogo road has revived the community, adding value to the residential houses in the area.
The Choba community in appreciation of the new road conferred a chieftaincy title to Wike.

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Tinubu Hails NGX N100trn Milestones, Urges Nigerians To Invest Locally

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President Bola Tinubu yesterday celebrated the Nigerian Exchange Group’s breakthrough into the N100tn market capitalisation threshold, saying Nigeria has moved from an ignored frontier market to a compelling investment destination.

Tinubu, in a statement signed by his Special Adviser on Information and Strategy, Bayo Onanuga, urged Nigerians to increase their investments in the domestic economy, expressing confidence that 2026 would deliver stronger returns as ongoing reforms take firmer root.

He noted that the NGX closed 2025 with a 51.19 per cent return, outperforming global indices such as the S&P 500 and FTSE 100, as well as several BRICS+ emerging markets, after recording 37.65 per cent in 2024.

“With the Nigerian Exchange crossing the historic N100tn market capitalisation mark, the country is witnessing the birth of a new economic reality and rejuvenation,” Tinubu said.

He attributed the stellar performance to Nigerian companies proving they can deliver strong investment returns across all sectors, from blue-chip industrials localising supply chains to banks demonstrating technological innovation.

The President added, “Year-to-date returns have significantly outpaced the S&P 500, the FTSE 100, and even many of our emerging-market peers in the BRICS+ group. Nigeria is no longer a frontier market to be ignored—it is now a compelling destination where value is being discovered.”

Tinubu disclosed that more indigenous energy firms, technology companies, telecoms operators and infrastructure firms are preparing to list on the exchange, a move he said would deepen market capitalisation and broaden economic participation.

He also cited what he described as a sustained decline in inflation over eight months—from 34.8 per cent in December 2024 to 14.45 per cent in November 2025—projecting that the rate would fall below 10 per cent before the end of 2026.

“Indeed, inflation is likely to fall below 10 per cent before the end of this year, leading to improved living standards and accelerated GDP growth. The year 2026 promises to be an epochal year for delivering prosperity to all Nigerians,” he said.

The President attributed the trend to monetary tightening, elimination of Ways and Means financing, and agricultural investments, which he said helped stabilise the naira and ease post-reform pressures.

Nigeria’s current account surplus reached $16bn in 2024, with the Central Bank projecting $18.81bn in 2026, reflecting a trade pattern shift toward exporting more and importing less locally-producible goods.

Non-oil exports jumped 48 per cent to N9.2tn by the third quarter of 2025, with African exports nearly doubling to N4.9tn. Manufacturing exports grew 67 per cent year-on-year in the second quarter.

Foreign reserves have crossed $45bn and are expected to breach $50 billion in the first quarter, giving the CBN ammunition to maintain currency stability and end the volatility that previously fuelled speculation, according to the President.

Tinubu also highlighted infrastructure expansion in rail networks, arterial roads, port revitalisation, and the Lagos-Calabar and Sokoto-Badagry superhighways, alongside improvements in healthcare facilities that are reducing medical tourism costs, and increased university research grants funded through the Nigeria Education Loan Fund.

“Our medicare facilities are improving, and medical tourism costs are declining. Our students benefit from the Nigeria Education Loan Fund, and universities are receiving increased research grants,” he said.

He described nation-building as a process requiring hard work, sacrifices, and citizen focus, pledging to continue working to build an egalitarian, transparent, and high-growth economy catalysed by historic tax and fiscal reforms that came into full implementation from January 1.

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RSG Kicks Off Armed Forces Remembrance Day ‘Morrow  …Restates Commitment Towards Veterans’ Welfare

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The Rivers State Government has reiterated its commitment towards the welfare of veterans, serving officers and widows of fallen officers in the State.

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?The Secretary to the Rivers State Government, Dr. Benibo Anabraba, in a statement by ?Head, Information and Public Relations Unit, SSG’s ?Office, ?Juliana Masi, stated this during the Central Planning meeting of the 2026 Armed Forces Remembrance Day in Port Harcourt, yesterday.

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?Anabraba thanked the Committee for their contributions to the success of the Emblem Appeal Fund Ceremony recently held in the State and called on them to double their efforts so that the State can record resounding success in the remaining activities.

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?According to him, the remembrance day events will begin with Jumaàt Prayers on Friday, 9th January at the Rivers State Central Mosque, Port Harcourt Township, while a Humanitarian Outreach/Family and Community Day will be hosted on Saturday, 10th January, by the wife of the governor, Lady Valerie Siminalayi Fubara, for widows and veterans.

?”On Sunday, 11th January, an Interdenominational Church Thanksgiving Service will hold at St. Cyprian Anglican Church, Port Harcourt Township while the Grand-finale Wreath- Laying Ceremony will hold on Thursday, 15th January at the Isaac Boro Park Cenotaph,  Port Harcourt”, he said.

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?The SSG noted that one of the highlights of the events is the laying of wreaths by Governor Siminalayi Fubara and Heads of the Security Agencies.

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Fubara Redeploys Green As Commissioner For Justice

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The Governor of Rivers State, Sir Siminalayi Fubara, has approved a minor cabinet reshuffle in the State Executive Council.

Under the new disposition, Barrister Christopher Green, who until now served as Commissioner for Sports, has been redeployed to the Ministry of Justice as the Honourable Attorney General and Commissioner for Justice.

This is contained in an official statement signed by Dr. Honour Sirawoo, Permanent Secretary, Ministry of Information and Communications.

According to the statement, Barrister Green will also continue to coordinate the activities of the Ministry of Sports pending the appointment of a substantive Commissioner to oversee the ministry.

The redeployment, which takes immediate effect, was approved at the last State Executive Council meeting for the year 2025, underscoring the Governor’s commitment to strengthening governance, ensuring continuity in service delivery, and optimising the performance of key ministries within the state.

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