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S’South Govs To Join VAT Case At S’Court
Governors of South-South states of Nigeria have resolved to join the suit currently before the Supreme Court of Nigeria over collection of Value Added Tax (VAT) between Federal Inland Revenue Service (FIRS) and Rivers State Government.
The governors declared that they unequivocally support collection of VAT by state governments in Nigeria.
This is part of the six-point communique read out to journalists by Delta State Governor and Chairman of South-South Governors’ Forum, Dr Ifeanyi Okowa, who presided over the meeting of the South-South Governors’ Forum at the Government House, Port Harcourt, last Monday.
“The BRACED Council met on Monday, October 4th, 2021. After an extensive deliberation, the council resolved; unequivocally supports the decision for states to collect Value Added Tax, and resolved to join the suit before the Supreme Court.”
The meeting,hosted by Rivers State Governor, Chief Nyesom Wike; was also attended by Akwa Ibom State Governor, Emmanuel Udom; Edo State Governor, Godwin Obaseki; and Bayelsa State Governor, Senator Douye Diri; also approved the South-South regional security architecture which would be launched very soon.
This is predicated on the fact that most of the BRACED Commission states have already established their state security outfits.
The BRACED Council called on President Muhammadu Buhari and the Federal Government to uphold the tenets of the law establishing the Niger Delta Development Commission (NDDC) by appropriately constituting its board.
In addition, the council expressed hope that the Federal Government would make the forensic audit report on the NDDC public and be courageous enough to deal justly and fairly with those found culpable in the report with a view to strengthening the capacity of NDDC to meet its obligations to the people of the region.
Also contained in the communique is the demand by the council on President Muhammadu Buhari and the National Assembly to take necessary measures to review some unfair aspects of the recently signed Petroleum Industry Act (PIA) in the spirit of fairness and equity.
“It (council) urged that the amendment should include clear definition of host community and that the trustees should be appointed by state governments.
“Council regretted that the president and the Federal Government have generally failed to give reasonable consideration to requests made by the region during the dialogue with the special federal delegation led by Chief of Staff to the President, Prof Ibrahim Gambari.
“Notable among the requests was the relocation of the NNPC subsidiaries and IOCs headquarters to the Niger Delta, and completion of a number of federal projects in the region, notably roads”, the communiqué indicated.
The council, however, expressed its appreciation to the host governor, for his warm hospitality and the success of the region.
It also commended the director general of the commission for his commitment to the region’s aspirations.
All the BRACED governors except Cross River State’s Prof Ben Ayade were present at the meeting.
The Director-General, BRACED Commission, Joe Keshi, was also present at the meeting.
The BRACED commission comprising the six South-South states of Bayelsa, Rivers, AkwaIbom, Cross River, Edo and Delta, is an initiative to foster integration, socio-economic and infrastructural development of the region.
Titled, “Communique of the Meeting of the South-South (BRACED) Governors Council held at the Rivers State Government House, Port Harcourt on Monday, October 4, 2021”, it reads in full: “The BRACED Governors’ Council met on Monday, October 4, 2021 at the Conference Room of the Rivers State Governor’s House, Port Harcourt.
“The meeting was presided over by Chairman of Council and Governor of Delta State, Senator Ifeanyi Okowa.
“Also in attendance were the governors of Bayelsa, Rivers, Akwa Ibom and Edo.
“After extensive deliberation, the Council resolved: Bearing in mind that most of the BRACED states have established their state security organs, approved the regional security architecture which would be launched soon.
“Unequivocally supports the decision for states to collect Value Added Tax (VAT) and resolved to join the suit before the Supreme Court.
Council urged the President and the National Assembly to take necessary measures to review some unfair aspects of the recently signed Petroleum Industry Bill to ensure fairness and equity. It urged that the amendment should include a clear definition of host communities and that the trustees should be appointed by state governments.
“Council called upon the President and the federal government to uphold the law establishing the Niger Delta Development Commission by appropriately constituting its board. In addition, it expressed the hope that the Federal Government would make the forensic audit report public and deal justly and fairly with the report with a view to strengthening the capacity of the NDDC to meet its obligations to the people of the region.
“Council regretted that the President and the Federal Government had generally failed to give reasoned consideration to requests made by the region during the dialogue with a special federal delegation led by Chief of Staff to the President, Prof Ibrahim Gambari.
“Notable among the requests were the relocation of NNPC subsidiaries and IOCs headquarters to the Niger Delta and the completion of a number of Federal projects in the region, notably, roads.
“At the end of deliberations, council expressed its appreciation to the chairman and commended the host governor for his warm hospitality and the success of the meeting.
“It commended the Director-General of the commission for his unwavering commitment to the region’s aspiration and the work of the commission done at Port Harcourt this day, Monday, October 4, 2021″.
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Tinubu Hails NGX N100trn Milestones, Urges Nigerians To Invest Locally
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
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
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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