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S’Court Hears Case On Rivers, Imo Oil Well Dispute, Jan 17
The Supreme Court order of injunction restraining the Federal Government and its agencies from ceding oil wells in Akri and Mgbede, Rivers State to Imo State, still subsist.
At the resumed hearing of Suit No. SC.1037/2020 filed by Attorney General of Rivers State (plaintiff) vs Attorney General of the Federation and others (defendents), last Monday, the Supreme Court adjourned the case to January 17, 2022 for hearing of the substantive matter.
At the court session, last Monday, the Attorney General of the Federation and Attorney General of Imo State suffered setback, as the Supreme Court tacitly did not take an intended motion to set aside the exparte order restraining the Federal Government and its agencies from ceding oil wells, located in Akri and Mgbede communities, to Imo State.
The counsel to the Attorney General of the Federation, Remi Olatubura; and Attorney General of Imo State, Olusola Oke; had wanted their motion challenging the jurisdiction of the Supreme Court to hear the matter to be heard, but the counsel to the Rivers State Government led by Emmanuel Ukala, SAN, countered with a motion for direction to streamline all the other motions.
However, the seven-member Supreme Court panel of justices led by Kudirat Kekere-Ekun, adjourned the matter to January 17, 2022 to hear the substantive matter.
Speaking to journalists outside the court, counsel to Rivers State Government, Sebastian Hon, SAN, said the matter was adjourned to January 17, when all interlocutory applications would be withdrawn, and the substantive matter heard.
“There is a boundary dispute with respect to some oil wells against Imo State. But we joined the Attorney General of the Federation who is a necessary party, because of the regulatory bodies like the National Boundary Commission, the Revenue Mobilisation and Fiscal Allocation Committee, etc that are federal agencies.
“Basically, it is a dispute that borders on some oil wells which Rivers State is claiming belongs to it. They (defendents) said the court ought to have taken their motion challenging jurisdiction first, but we said no, we have a motion for direction to streamline all the other motions.
“Then, the court said instead of wasting time, let’s wait till January to hear the substantive matter. Everything will be taken on that day. They (defendents) actually wanted the court to quash the injunction, but tacitly the court refused to go into that.”
It would be recalled that the Rivers State Government had filed a suit against the Attorney General of the Federation and the Attorney General of Imo State before the Supreme Court, asking for a declaration that the boundary between Rivers State and Imo State as delineated on Nigeria’s Administrative Map, 10, 11 and 12th editions and other maps bearing similar delineations were inaccurate, incorrect and do not represent the legitimate and lawful boundary between Rivers State and Imo State.
Rivers State, through its Attorney General, also sought a declaration that the country’s Administrative Map 10, 11 and 12th editions and other maps bearing similar delineations with respect to the boundary between Rivers and Imo, are unlawful and void, and cannot be relied on to determine the extent of the territorial governmental jurisdiction of Rivers State and to determine the revenue accruing to the state from the federation account, including the application of the principle of derivation and other revenue allocation principles as contained in the 1999 Constitution.
The Rivers State Government prayed the Supreme Court to declare that all the oil wells within Akri and Mgbede communities are wrongly attributed to Imo State and that they are all oil wells within the territory of Rivers State and form part of Rivers State, and that only Rivers is entitled to receive the full allocation of the distributable revenue from the oil wells on the basis of the 13percent derivation as contained under Section 162 of the 1999 Constitution.
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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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