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Communal Rift Threatens Bonny-Bodo Road Project …As FG Plans To Withdraw Funding
The Federal Government has threatened to withdraw funding for the suspended N120billion Bonny-Bodo Road project as a result of lack of cooperation by host communities meant to benefit from the project in Rivers State.
It called on leaders of the affected communities to unite, adding that the N60billion fund released for the project by the Nigeria Liquefied Natural Gas (NLNG) might be refunded, if the host communities failed to agree on specified terms.
The Minister of Power, Works and Housing, Babatunde Fashola, gave the warning to leaders of the communities at a meeting in Abuja, which had prominent traditional rulers from the Niger Delta region, officials of Julius Berger Plc, NLNG and council of elders from Ataba and Gokana, among others, in attendance.
Fashola begged the leaders of the communities to forget their differences, and stated that if the discord persisted, he might petition President Muhammadu Buhari over the issue and ask him to withdraw the N60billion contract sum already released for the project.
He explained that the Bonny-Bodo road project had enjoyed the largest funding, as the NLNG was providing N60billion with additional N60billion counterpart funding from the Federal Government.
The minister told his guests that the contractor handling the project had been mobilised, yet the project was suspended due to lack of cooperation from the benefitting communities.
Fashola expressed worry over the position of the elders, who insisted that the project would not be implemented except they were carried along, and an additional route constructed in Ataba.
He said, “You must work this peace. Today is Thursday, since you said you know the permanent secretary, I will leave you with him. All I want is a peace accord and an invitation to Julius Berger not later than Wednesday, February 28. Otherwise, I will write a report to Mr. President that it doesn’t seem that this project is ready to go, but we can move the money to another project.
“Whether it is Ataba, Ogoni or Gokana, you must own this project. The people you call militants are not spirits. They take their cue from how you react. You are leaders there. If you go back home today, and say it is over, the militants too will calm down. They don’t do anything without alerting the leaders.”
Fashola added, “For us, we can’t keep the money down. The contractor has received his money but now he can’t work. There are projects where contractors are waiting for money, but they don’t have it. That is a contradiction that will not last long.
“So, I will leave you. You know where we stand. We have an idea of where you stand. For me, it is a compromise that holds the project. The NLNG will not be there forever. It took time to even beg them to release this money. So, if you don’t take ownership of the project and put it to use, we might as well tell them to take their money back, and that the project is not ready,” the minister added.
“We need to have a position within two weeks for MoU of compromise to be signed assuring us that there will be peace in that place.
“You must invite the contractor back to site and ensure that you suggest to them anything you want the contractor to do because you can’t take over their business,” he said.
“I must emphasise at this time very clearly that it is in your hands as people who will be affected to either own this project or turn your back on it.
“I am sad to hear that the contractor is being attacked, his property in Gitto yard being vandalised, topographic survey and other works being stopped in your communities.
“My sense is that if a major Federal Government project is coming to your area, you put your differences aside, particularly for the fact that the project is a potential live changing assets,” he added.
Fashola added that the commencement of the project was conceived by the Federal Government within the context of agitation for better quality of life in the Niger Delta.
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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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