Connect with us

News

Recession: Reps Urge FG To Review Monetary Policy

Published

on

The House of Repre
sentatives has urged the Federal Government to direct its finance and planning agencies to review existing monetary policies with a view to developing sustainable lending rate.
The House specifically asked the government to give the directive to the Central Bank of Nigeria, Ministry of Finance and Ministry of Budget and National Planning.
The call was sequel to a unanimous adoption of a motion on ‘Urgent Need to Address the Economic Downturn in Nigeria’ by Mukaila Kazim.
Moving the motion, Kazim said that a review of the country’s monetary policy will foster real sector growth and enhance economic development.
He stressed the need for the Federal Government to take urgent steps to resuscitate the comatose government-owned industries.
He said that the step would help to create employment, provide raw materials for local producers and preserve scarce foreign exchange.
Kazim noted that the fall of oil price from over 120 dollars per barrel to about 45 dollars per barrel had impacted negatively on revenue available to finance expenditure.
He explained that the current bank lending rate of 14 per cent was discouraging borrowing, especially by Medium, Small and Micro Enterprises, and impeding meaningful economic growth.
Contributing, Rep. Tajudeen Yusuf (PDP-Kogi) said that there was a need to reconcile dollar­naira relationship in the country’s foreign exchange dealings.
He said that restrictions on foreign exchange transactions crippled the ability of manufacturers to pay for materials to boost local manufacturing.
Rep. Haruna Goni (Yobe-APC) called for sustained activities to return to agriculture, saying it was the mainstay of the economy.
He also called for review of land policies and lending rate to boost agriculture as a way out of the recession.
He said, “There is also need for timely supply of agricultural materials like seeds, fertilisers and equipment if diversification into agriculture will be actualised.”
However, the House Minority Leader, Rep. Leo Ogor (PDP-Delta), said that Nigeria was paying lip service to diversification campaign.
He said, “We have been paying lip service to the concept of diversification; our ministers came here and nobody was able to look at the challenges in line with the volume of mineral resources we have.
“Where will we get the level of specialisation from if everybody is interested in the oil? Today, the price of oil has dropped and I think we have vast land for agriculture.
“We have mineral resources in every part of the country but nobody is looking at them because there is lack of specialisation.
Ogor said that there was need for the National Assembly to review the exclusive and legislative lists, and divert some of the powers to the states and local governments to address issues of diversification.

Continue Reading

News

Fubara Assures Greater Collaboration With Navy 

Published

on

Rivers State Governor, Sir Siminalayi Fubara, has assured greater collaboration with Navy and other security agencies in combatting crimes and criminality in the State.

 

The governor also hailed the appointment of Vice Admiral Idi Abbas as the Chief of Naval Staff, saying he will deliver on his mandate based on his track record of excellence and meritorious service.

 

Fubara gave this assurance when Abbas and his team paid the governor a courtesy call at the Government House, Port Harcourt, yesterday.

 

The governor also commended the efforts of the Nigeria Navy in tackling criminality on Rivers waterways and protecting critical national assets.

 

He emphasized the need for more security surveillance on Rivers State coastal environments to safeguard lives and properties.

 

According to him, the Navy’s superior technology, manpower, and tactical competence are vital to protecting the state’s vast waterways.

 

“We need to work together for us to succeed,” he said, stressing that collaboration remains the most effective way to keep residents, assets, and the environment safe.

 

Pointing out the strategic significance of Rivers State as the hub of Nigeria’s crude oil and coastal infrastructure, Fubara commended the Navy for its continuous efforts in preventing losses to lives, livelihoods, and the ecosystem, and assured the service of the government’s sustained cooperation and support.

 

On his part, Abbas said his visit was part of a nationwide tour aimed at assessing operational readiness across naval formations since assuming command on October 30, 2025,

 

The new Naval Chief noted that Rivers State hosts several critical energy installations that fall under the Navy’s mandate to protect, adding that the state also remains central to the Navy’s training operations, with several key units located within its territory.

 

Abbas commended Governor Fubara for the State’s consistent support, citing the provision of six gunboats and the donation of a school building as significant contributions that have boosted the Navy’s operational efficiency.

 

He appealed for continued collaboration as the Navy intensifies efforts to secure the maritime domain.

 

Taneh Beemene

Continue Reading

News

Fubara Tasks Traditional Rulers On Peace, Security …Says Education, Job Creation ‘ll Receive Boost In 2026 Budget

Published

on

Rivers State Governor Sir Siminalayi Fubara has declared that amidst glaring challenges, his administration has remained determined and focused to dispense good governance and put in place the needed development in the State.

 

The governor disclosed this while addressing the 123rd and 124th combined quarterly general meeting of the Rivers State Council of Traditional Rulers at the Council Secretariat on Monday.

 

Fubara who commended the traditional rulers for their supports and efforts in promoting peace and development in the State, urged them to live up to their roles as custodians of peace by becoming alert and more vigilant in their domains to tackle the menace of insecurity especially in boundary communities.

 

He advised the traditional rulers to work with local government chairmen and security agencies to safeguard lives and properties in their domains.

 

“Let me thank everyone of you from the bottom of my heart, I met you in Government House to say a big thank you, because the royal fathers stood as fathers in our most trying moments.

 

“I say thank you again for your support, for understanding that your role is fatherly role, and one of the reasons you were elected or selected to be head is to bridge the gap in terms of crisis, and to play fatherly role when called upon. Thank you for ensuring that peace reigns in Rivers State,” he said.

 

The governor reaffirmed his commitment towards the protection of lives and property in the State.

 

“Our vision is to ensure that Rivers State is safe, our vision includes the provision of good health care services, which we are doing, the records are there, people from the south east are witnessing what is happening in the Zonal Hospital in Bori, presently. I’m sure that before the end of this year, the Omoku and Ahoada Zonal Hospitals will be commissioned while Degema is 80% completed, we’re not just talking, we’re doing it,” he said.

 

Fubara, however, dismissed speculations making the rounds on the issue of 10,000 jobs, urging the public to discountenance the false information.

 

He assured that employment will be carried out in the state based on needs, and not on political considerations.

 

He disclosed that the 2026 budget will make provision for job creation and the refurbishment of schools in the State which, he noted, are currently in deplorable conditions, having given due consideration to roads and the health sector.

 

“Let me use this medium to address an issue, I saw some people sending messages to my WhatsApp, they want to protest against 10,000 jobs, they claim was included in the budget, which budget? We are going to employ based on the needs of the state, I’m not going to employ politically to please anybody,” he assured.

 

The governor promised to address the requests of the traditional rulers, and charged them to ensure that their meeting brings out a strong position that will make the State stronger.

 

Earlier in his welcome address, the Chairman of the Rivers State Council of Traditional Rulers, and Eze Oha Apara 1V, of Apara Kingdom, HRM Eze Chike Amadi Worlu-Wodo, thanked the governor for personally attending the meeting.

 

The royal father restated the support of the traditional rulers to the State Government, and presented some requests of the Council to the governor.

 

“Your Excellency, the news that we have received all over the State is quite cheering and symbolic of the peaceful life and developments that Rivers people yearn for in the State. You have brought back those glorious old days of harmonious living and peaceful coexistence the way it was. May the Almighty  God bless you and help you to sustain this laudable feat,” the royal father prayed.

 

In his remarks, the State Commissioner for Chieftaincy Affairs , Egnr.Charles Amadi, expressed gratitude to the governor for his developmental strides in the State, and also commended the traditional rulers for their unwavering commitment towards promoting peace in the State.

Continue Reading

News

Tinubu Swears In Christopher Musa As Defence Minister

Published

on

?President Bola Tinubu, yesterday swore in retired Gen. Christopher Musa as the new Minister of Defence.?
?
?The president administered the oath of office on Musa in his office
at the State House, Abuja.
?
?Tinubu had described  Musa as a “fine gentleman” whose track record in service positions him to drive a more integrated national security response.”
?
?The new defence minister’s appointment comes less than 48 hours after the resignation of his predecessor, Alhaji Badaru Abubakar.
?
?Musa, 58, served as the Chief of Defence Staff from 2023 to Oct. 2025, during which he oversaw broad counterterrorism operations and inter-agency coordination efforts.
?
?His nomination was transmitted to the Senate on Tuesday and was swiftly confirmed after rigorous screening on Wednesday, a development Tinubu praised as an evidence of legislative support for his security vision.
?
?With the swearing-in now complete, Musa assumes full ministerial duties as the Tinubu administration pushes to consolidate recent gains and accelerate reforms aimed at delivering lasting peace and national stability.
?
?The brief ceremony was attended by top government officials including Senate President, Godswill Akpabio, National Security Adviser (NSA), Nuhu Ribadu and thd Minister of Information and National Orientation, Mohammed Idris
?
?Musa told State House Correspondents after the event that he would ensure better synergy among the Armed Forces to tackle terrorism and all forms of insecurity in the country.
?
?”My immediate priority is to make sure that defence takes its place fully in the country.
?
?”The synergy between the armed forces and other security agencies and all Nigerians being carried along as we have always said, that security is everybody’s responsibility.
?
?” It is that synergy that we need to build on and work on it, and that’s what we’re going to and I can assure you, within the shortest possible time, Nigerians will see results.
?
?” I want to use this medium to appreciate all Nigerians. Nigerians have shown me love, and I will guarantee them that I am going to work whatever it takes to ensure that Nigeria is secured,” he said.

 

Continue Reading

Trending