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Rep Urges Regulation Of Illegal Refineries

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A member of the House Representatives, Mr Ehiozuwa Agbonayinma, said rather than destroy illegal refineries in the Niger Delta, Federal Government should license and regulate them.
He told newsmen in Abuja, yesterday, that the government should leverage on the skills of operators of the refineries to develop small outlets for refining crude oil for domestic use.
Agbonayinma, who represents Egor/Ikpoba-Okha Constituency of Edo State, said that his advice to government became necessary at the backdrop of failure of persons given licenses to build refineries by previous administrations, to do so.
He also said that it was because of the inability of the government to fix existing refineries and had resorted to sustained importation of petroleum products.
He said that the number of illegal refineries being destroyed and the rate at which they resurfaced was evidence that the operators had some engineering skills that government should harness.
According to him, rather than destroying the so-called illegal refineries, government through the Ministry of Niger Delta, NDDC and Amnesty Programme should bring together the youths engaging in the illegal refinery and harness their technology.
“The activities of illegal refineries operators should be regulated, licenses should be issued to them and crude oil allocated to them based on their capacities.
“In the civilized countries, what to do is to bring all those youths and look for a way to harness their brains rather than to destroy the refineries.
“They are doing what government cannot do by consistently refining crude oil into petroleum products; they deserved to be assembled and encouraged to do it better, under regulation.
“Call them and ask what quantity each of them can refine and allocate it to them; let them refine it and let Nigerians benefit from it.
“Destroying the refineries and at the end of the day, they keep coming back, building new ones will not help. The resources used in destroying the refineries should be used to encourage them,” Agbonayinma said.
He said that the activities of Niger Delta youths were not the major cause of the low oil production or its availability in sufficient quantity.
According to him, contrary to the claims by the Nigerian National Petroleum Corporation (NNPC), multinational companies which collude with some elite in the country to siphon Nigerian crude through back door are the major problem.
“The NNPC is crying here that Niger Delta militants or avengers are the problem whereas the real problems are multinationals that are the core and real avengers.
“Go to Niger Delta area and see the pollution and the degradation; the farmers can no longer farm, the fishermen can no longer fish, and the youth resorting to ingenuity of refining crude which NNPC has failed to do.
“The refineries are not working because NNPC has refused to solve the problem or fix them.
“They have a reason for not fixing them; they refused to fix them because of their own selfish gains,’’ the lawmaker said.
Agboniyanma said that it was only Nigerians that could help to put a stop to the stealing of the country’s crude oil.
“NNPC knows that once the refineries start working fully, the means of stealing will stop; so they don’t want the refineries to work.
“Let NNPC be unbundled, that does not solve the problem,” he said.
The lawmaker also advised Nigeria to emulate the United Arab Emirate in the use of its oil sector for national development.
“Since British left, we have not been able to get it right. So, I will say that we should do what Dubai did.
“They have oil; they invited and negotiated with US government and their firms to help them to develop the country. They told US `come, see our oil, manage it for us and develop our country’.
“Dubai was a desert 10 or 15 years ago; today that same Dubai is where Nigerians go for holidays as well as send their children to for studies, while we are killing our country,’’ he said.
Agbonayinma said that Nigeria could also negotiate with its oil for a period of four or eight years contract to develop the county.
“We go into contracts because we don’t know how to run the government and so far, so good; we have run it and we have failed. Nothing works in Nigeria, and the laws are there.

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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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