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FG Spends N2.4trn On Fuel, Lubricant Imports

The Federal Government spent N2.4 trillion on the importation of fuels and lubricants in 2016, according to the National Bureau of Statistics (NBS).
The agency in its fourth quarter (Q4) foreign and merchandise trade statistics released at the weekend, disclosed that about 18.4 per cent of the total cost was used for the importation of Premium Motor Spirit (PMS) during the year under review.
On a quarterly basis Nigeria spent N699.2 billion for the importation of fuels and lubricants, which if retained in the country, could build institutions that would provide jobs for graduates.
The bureau further disaggregation of fuels and lubricants revealed that Premium Motor Spirit dominated fuel and lubricants imports with 20.2 per cent or N469.2 billion, while other fuels and lubricants accounted for the balance of 9.9 per cent during the period.
The bureau said the structure of Nigeria’s export trade is still dominated by crude oil exports, which contributed N2.4 trillion or 81.4 per cent to the value of total domestic export trade in Q4 2016.
The percentage of crude exports to total exports in Q4 thereby decreased to 81.4.0 per cent from 84.3 per cent in Q3, but increased when compared to Q4 2015, accounting for 79.3 per cent of the exports.
It disclosed that Nigeria’s import trade by origin in Q4 showed the country imported goods mostly from China, Belgium, Netherlands, the United States and India. They respectively accounted for N404.1 billion or 17.5 per cent, N356.4 billion or 15.4 per cent, N230.0 billion or 10.0 per cent, N205.6 billion or 8.9 per cent, and N113.9 billion 4.9 per cent of the total value of goods imported during the quarter.
Further analysis of Nigeria’s imports by continent during the period, revealed that it consumed goods largely from Europe with import value of N1, 127.9 billion or 48.9 per cent, adding that it also imported goods valued at N761.9 billion or 33 per cent from Asia and N312.8 billion or 13.6 per cent from the Americas.
The bureau stated: “Import trade from Africa stood at N82.7 billion or 3.6 per cent while imports from the region of ECOWAS amounted to N15.1 billion.
“For full year 2016, Nigeria imported mostly from China with 19.7 per cent of total imports followed by the Netherlands, 11.7 per cent then the USA, eight years.
“With respect to import by continent, Nigeria imported the most from Europe, 46.7 per cent then Asia, 35.8 per cent and the Americas, 12.2 per cent. Nigerian imports from Africa stood at 4.1 per cent of total imports in 2016, with imports from within ECOWAS at 1.2 per cent.”
The total value of Nigeria’s merchandise trade at the end of Q4 was N5, 286.6 billion, or 10.6 per cent above the N4.781 billion recorded in Q3.
“Total export value for fourth quarter of 2016 stood at N2.978 billion, which was 28.3 per cent more than the value of the previous quarter. Total import for fourth quarter of 2016 was N2.308 billion, which represented a decrease of 6.1 per cent with the value of the preceding quarter.
“The much faster rise in the value of exports relative to the rise in imports brought the Country’s trade balance to N671.3 billion during the review period, showing a stark improvement from the negative trade balance of -N136 billion recorded in the preceding quarter.
“This development stemmed from a rise of N656.3 billion or 28.3 per cent, in the value of exports combined with a decline of N150.9 billion or 6.1 per cent, in the value of imports against the levels recorded in the preceding quarter,” it added.
Meanwhile, the Executive Secretary, Lubricant Producers Association of Nigeria (LUPAN), Emeka Obidike, said indigenous blenders are constantly being threatened with the shutting down of their plants and seizure of their consignments.
He said they are also persistently faced with the risk of losing their businesses, corrosion of their goodwill and professional integrity, asphyxiating demurrages and transactions and default in the repayment of facilities.
Obidike alleged that the National Agency for Food, Drugs Administration and Control (NAFDAC) had in many occasions confiscated their consignments and also gone ahead to detain the consignments of importers, insisting on being presented with NAFDAC licences and proof of payment of dues.
He explained that LUPAN members are duly licensed by the DPR to import, store and blend base oil in Nigeria.
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RSG Commits To Workers’ Welfare …. Calls For Sustained Govt, Labour Partnership

The Administrator of Rivers State, Retired Vice Admiral Ibok-Ete Ekwe Ibas, has assured the commitment of Rivers State government to workers’s welfare and industrial harmony in Rivers State.
The Sole Administrator gave the assurance after meeting with leadership of organized labour unions at the Government House, Port Harcourt on Wednesday.
Ibas reaffirmed government’s policy of prompt payment of salaries and pensions to workers and retirees, stating that all local government employees are not receiving the approved minimum wage.
He disclosed that approval has been given for payment of newly employed staff at Rivers State University Teaching Hospital and the Judiciary, while medical workers in Local Government Areas will now receive correct wages.
Ibas explained that, Government is reviewing implementation challenges of the Contributory Pension Scheme ahead of the July 2025 deadline, adding that Intervention buses have been reintroduced to ease workers’ transportation ,with plans to expand the fleet.
He said specialized leadership training for top civil servants will commence within two weeks, while due consideration is being given to implementing the N32,000 consequential adjustment for pensioners and clearing outstanding gratuities.
Ibas commended Rivers State workers for their dedication to service and called for sustained partnership with labour unions to maintain industrial peace.
“This administration recognizes workers as critical partners in development. We remain committed to addressing your legitimate concerns within available resources,” he stated.
The State NLC Chairman, Comrade Alex Agwanwor, thanked the Administrator for the steps taken so far with regard to workers welfare while appreciating his disposition towards alleviating the transportation problem faced by workers.
He also expressed appreciation for the government’s openness to dialogue and pledged continued cooperation towards achieving mutual goals.
The Rivers State Government assured all workers of its unwavering commitment to their welfare and called for continued dedication to service delivery for the collective progress of our dear State.
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Labour Unions In Rivers Call For Improved Standard Living For Workers

The Nigeria Labour Congress (NLC), Rivers Council, has called for policies that will improve the economic situation of the country in order to ensure enhanced living standard for workers.
The State Chairman, Mr Alex Agwanwor, made the remark on behalf of the unions affiliated to Labour Congress during the 2025 workers day celebration in Port Harcourt, yesterday.
Agwanwor highlighted the demands of the Unions which included the immediate payment of pension arrears, implementation of the N32,000 minimum wage for pensioners, and payment of gratuities and death benefits without further delay.
“We are calling for the regulation and protection of e-hailing drivers, implementation of increments and promotions, and resolution of long-standing issues in the polytechnic sector,” he said.
Agwanwor on behalf of the unions appealed to President Bola Tinubu to reinstate the democratically elected Governor, Deputy Governor, and members of the Rivers State House of Assembly.
He stressed the importance of democratic governance and good working relationship with elected representatives.
According to him, the unions expressed disappointment over the imposition of taxes, increase in electricity tariff, and high cost of goods and services, which have further worsened the plight of workers.
“We urge the federal government to take measures to alleviate the suffering of citizens,” he said.
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Tinubu committed to unlocking Nigeria’s potential – Shettima

Vice-President Kashim Shettima says President Bola Tinubu is committed to unlocking Nigeria’s full potential and position the country as a leading force on the African continent.
Shettima stated this when he hosted a delegation from the Hertie School of Governance, Berlin, led by its Senior Fellow, Dr Rolf Alter, at the Presidential Villa in Abuja last Wednesday.
He said Nigeria was actively seeking expertise from the global best institutions to enhance policy formulation and implementation, particularly in human capital development.
The Vice-President noted that President Tinubu was determined to elevate Nigeria to its rightful position as a leading force in Africa.
“The current crop of leadership in Nigeria under President Bola Ahmed Tinubu is ready and willing to unleash the full potential of the Nigerian nation on the African continent.
” We are laying the groundwork through strategic reforms, and at the heart of it, is human capital development.”
He described the Hertie School as a valuable partner in the journey.
According to him, Hertie School of Governance, Berlin, has track record and institutional knowledge to add value to our policy formulation and delivery, especially in this disruptive age.
Shettima reiterated the government’s priority on upskilling Nigerians, saying ” skills are very important, and with our Human Capital Development (HCD) 2.0 programme.
“We are in a position to unleash the full potential of the Nigerian people by enhancing their capital skills.”
The Vice-President acknowledged the vital support of international development partners in that effort.
” I want to thank the World Bank, the European Union, the Bill and Melinda Gates Foundation, and all our partners in that drive to add value to the Nigerian nation,” he maintained.
The Vice-President said human capital development was both an economic imperative and a social necessity.
Shettima assured the delegation of the government’s readiness to deepen cooperation.
” We need the skills and the capacity from your school. The world is now knowledge-driven.
“I wish to implore you to have a very warm and robust partnership with the government and people of Nigeria.”
Shettima further explained recent economic decisions of the government, including fuel subsidy removal and foreign exchange reforms.
“The removal of fuel subsidy, the unification of the exchange rate regime and the revolution in the energy sector are all painful processes, but at the end of the day, the Nigerian people will laugh last.
“President Tinubu is a very modern leader who is willing to take far-reaching, courageous decisions to reposition the Nigerian economy,” he added.
Earlier, Alter, congratulated the Tinubu administration for the successful launch and implementation of the Human Capital Development (HCD) strategy.
The group leader described the development as ambitious and targeted towards the improvement of the lives of the citizens.
He expressed satisfaction with the outcome of his engagements since arriving in the country.
He applauded the zeal, commitment, energy and goodwill observed among stakeholders in the implementation of Nigeria’s HCD programme.
Alter said the Hertie School of Governance would work closely with authorities in Nigeria across different levels to deliver programmes specifically designed to address the unique needs of the country.
He, however, stressed the need for government officials at different levels to be agile and amenable to the dynamics of the evolving world, particularly as Nigeria attempted to successfully accelerate its human capital development aspirations.
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