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European Investors Rate Rivers Best Economic Destination …As Wike Puts State On Frontburner In London …RSG Raises Alarm Over Plot To Stifle Economy
The management of The Financial Times of London and other leading European investors have rated Rivers State as Nigeria’s leading economic destination due to the programmes instituted by the state Governor, Chief Nyesom Wike.
Top member of the management of the World renowned economic and investment newspaper gave the indication yesterday. during a special investment programme organised for Rivers State by The Financial Times tagged: ‘Invest In Rivers State’ at its headquarters in London.
Speaking at the programme,Editor, Special Reports of Financial Times, Leyla Boulton said that Rivers State has become Nigeria’s leading economic destination due to the programmes initiated by Wike.
The Chief Executive Officer of Invest Africa and United Kingdom Business Council for Africa, Karen Taylor said that the government has redefined the economic advantage of Rivers State, making it attractive to the world.
Vice Chairman of Westminster Africa Business Group, Tim Johnsen noted that the presentation of Wike has highlighted key areas of investments to be explored by European investors.
In his remarks, Commercial Director of Financial Times in charge of Africa and Middle East, Mark Cowardine assured the Rivers State governor that the message of the investment potentials of Rivers State will promote economic growth in the state.
Senior Consultant at Control Risks, Imad Mesdoua, expressed satisfaction with the quality of information and opportunities that Wike has exposed to Europe on Rivers State.
Speaking at the occasion,the Rivers State Governor, Chief Nyesom Wike declared that his administration has implemented sound economic policies and programmes that have made the state the investment destination of Nigeria, adding that return on investment in the state is the highest in Nigeria.
Wike said: “The Government of Rivers State remains committed to making Rivers State the best place in Nigeria to live, work and do business through the implementation of sound policies and creating the enabling peaceful, secure and friendly environment for doing business in Rivers State. Investors are warmly welcomed, Rivers State awaits you”.
The governor assured intending investors that his administration has lined out incentives that have made the state investor friendly.
According to the Rivers State governor, the Rivers State Government under his leadership has provided visibility gap funding, minimum revenue guarantee, provision of land for development, provision of subsidies and reduction of/exemption from payment of taxes and levies.
“There is a stable, focused and progressive government that is committed to the state’s economic objectives, which is to build a strong, balanced and growing economy for Rivers State.
“The government has created the most business friendly environment for Rivers State with unprecedented investments in infrastructure, tax reforms and related economic incentives to reduce cost of doing business”, Wike explained on why European investors should invest in Rivers State.
Wike added: “We have given unprecedented attention to security of lives and property, Rivers State is now safe and secure for businesses and investors”.
The governor added that his administration has eliminated double taxation, instituted expeditious processing and grant of land documents, facilitation of investment processes and regulatory approvals.
Wike said that intending investors in oil and gas would benefit from the presence of the Oil and Gas Free Zone in the state, noting that the facility provides opportunities for the establishment of businesses across the oil and gas value chain.
The governor declared that the Rivers State Government has institutionalised laws, processes and policies to protect investments in the state.
He said: “Besides national laws, the Rivers State Government has also put in place appropriate legal framework to promote and protect investments in the state”.
Wike said as a gateway into the South-South and South-East zones, Rivers State also boasts of immense investment opportunities in the area of information and communication technology.
He added that there are remarkable investment opportunities in the areas of tourism and hospitality, pointing out that as the destination of choice for organisers of events, conferences and sporting events, Rivers State investment climate will reward any foreign investor.
The governor pointed out the successes recorded by establishing the innovative Port Harcourt Pleasure Park, which is now a regional centre of tourism, attracting several thousands of Nigerian and foreign visitors.
Wike informed the European investors that investment opportunities exist at the Greater Port Harcourt City Development Authority, where his administration has established framework for public-private partnerships, land subsidies and the development of infrastructure.
He also stated that there are investment opportunities in the area of manufacturing where investors can take advantage of the Trans-Amadi Industrial Estate.
The state chief executive added that public housing and property development remain another profitable outlet because of the population of the state.
The governor maintained that the availability of vast arable land and water makes Rivers State the national hub of agriculture and agro processing.
He said: “The state’s population, including the middle class is increasing in geo-metric proportions. Besides, the availability of a young educated, skilled and semi skilled population eager for employment offers abundant workforce and large emerging and relatively untapped market for consumer products and services.
Wike said that Rivers State possesses abundant natural resources, two existing seaports, an international airport and Nigeria’s second largest economy, waiting for credible international investors.
Wike was accompanied by Senator George Sekibo, Commissioner for Information and Communications, Barrister Emma Okah, Chairman of Greater Port Harcourt City Development Authority, Chief Ferdinand Anabraba, Commissioner for Sports, Boma Iyaye and former Deputy Speaker of the House of Representatives, Austin Opara.
The Rivers State Government says there are sinister moves by enemies of the government to stifle the economy of the state through orchestrated media-sponsored propaganda.
The Permanent Secretary, Rivers State Ministry of Information and Communications, Pastor Paulinus Nsirim stated this while speaking as chairman during a media chat by the management of Showers Group of Schools at Grace Plaza, Woji Road in Port Harcourt, yesterday.
Nsirim opined that the intention of the purveyors of the scheme was to blackmail the state government and cripple economic activities with insecurity-sponsored propaganda in the media, adding that the state was safe more than any other state in the country.
According to him, the state is the hub of oil and gas production which sustains the country, lamenting that due to the media-induced propaganda, some of the operators were moving out of the state.
He urged the media to change the narrative by telling the world and the society the proper situation of things in the state with a view to informing the public about prevailing peace and security and the aboundant business opportunities in the state.
“A lot of businesses in the state are moving to the West due to the media propaganda.
“As journalists, we must help to change the narrative. If you go to Onne and other places, you will see that there is nothing happening”, he stressed.
The permanent secretary averred that those living and doing business in the state owe it as a duty to support the state government in its effort to better the economy by painting the true picture of the state.
“If you live in the state and do business here, you owe it a duty to protect the economy of the state. In fact, the Nigeria Union of Journalists (NUJ) and the media must rise above this sentiment, and help tell the true story of Rivers State”, he added.
Nsirim, however, said there was the need to support those who were providing qualitative education in the state so as to encourage them to succeed in their business of human development.
Earlier in her speech, the Chief Executive Officer, Showers Group of Schools, Mrs Ekama Emilia Akpan said the essence of the media chat was to build good relationship with the media as well as showcase some achievements recorded by the school.
Ekama said the passion of using the youth to capture the society was the reason why she chose education as the only way to achieve the target, adding that the school has commenced A-Level programmes for Nigerian students aimed at affording them opportunity to gain direct admission into tertiary institutions abroad.
She also disclosed that her students have made outstanding performances in their academic careers within and outside the shores of the country.
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No Child Should Be Denied Access to Education – Fubara
The Rivers State Government has called on stakeholders, community leaders, parents and relevant education authorities to intensify efforts to identify and enrol out-of-school children across Nigeria, stressing that every child deserves access to quality and inclusive education.
Governor Siminalayi Fubara made the call, yesterday, during the regional campaign on engaging community structures to promote the enrolment of out-of-school children and the regional flag-off of the 2026/2027 enrolment drive for southern states, held in Port Harcourt.
Represented by the Secretary to the State Government, Dr Dagogo Wokoma, Governor Fubara reaffirmed that education remains a fundamental pillar of sustainable development and emphasised the need to ensure that no child is left behind because of economic hardship, social background or other barriers to schooling.
He noted that expanding access to education was essential to promoting sustainable development, social inclusion and equal opportunities, enabling children to reach their full potential and contribute meaningfully to society.
The governor urged participating states and communities to translate their commitments into concrete and measurable actions by reaching vulnerable children, strengthening community engagement and encouraging parents and guardians to make their children’s education a priority.
He reiterated the state government’s commitment to initiatives aimed at expanding access to education, particularly for children excluded from formal schooling.
“Rivers State remains committed to supporting initiatives that expand access to inclusive and quality education, particularly for vulnerable children who may have missed the opportunity to attend formal schools,” Fubara stressed.
Also speaking, the Executive Secretary of the Universal Basic Education Commission (UBEC), Aisha Garba, described the growing number of out-of-school children as one of the major challenges confronting the education sector.
She called for a collective and collaborative approach among governments, communities, parents and other stakeholders to address the problem, stressing the need to ensure that no Nigerian child is denied the fundamental right to education.
The programme was organised by the Universal Basic Education Commission in collaboration with the Rivers State Government, as part of efforts to strengthen community participation and promote school enrolment across the southern states for the 2026/2027 academic session.
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FAAC: FG, States, LGs Share N2.428trn For September
The Federation Account Allocation Committee (FAAC) has shared the sum of N2.428 trillion among the Federal Government, 36 states government and the 774 Local Government Councils (LGCs) as revenue for the month of September.
The Director, Press and Public Relations, Office of the Accountant-General of the Federation (OAGF), Mr Bawa Mokwa, said this in a statement in Abuja, yesterday.
Mokwa said the allocation was approved by FAAC at its October meeting held in Abuja.
He said the N2.428 trillion distributable revenue comprised of statutory revenue of N1.672 trillion, distributable Value Added Tax (VAT) revenue of N756.587 billion.
Mokwa quoted the FAAC communiqué as saying that total gross revenue of N3.913 trillion was available in the month of September 2026.
He said a total deduction for cost of collection was N131.758 billion while total transfers, refunds and savings of N1.352 trillion.
According to him, a gross statutory revenue of N3.096 trillion was received for the month of September 2026.
“This was higher than the sum of N2.850 trillion received in the preceeding month by N246.384 billion.
“Gross revenue of N816.872 billion was available from the Value Added Tax (VAT) in September 2026.
“This was lower than the N834.843 billion available in the month of August 2026 by N17.972 billion,” he said.
Mokwa explained that the Federal Government received N832.242 billion and the state governments received the sum of N799.872 billion.
He said the LGCs received N560.660 billion, while the sum of N236.049 billion (13% of mineral revenue) was shared to the benefiting state as derivation revenue.
Mokwa said in the N1.672 billion distributable statutory revenue, the Federal Government received N756.583 billion and the State Governments received N383.749 billion.
He said the LGCs received N295.855 billion and the sum of N236.049 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.
The director said from the N756.587 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N75.659 billion, the State Governments received N416.123 billion and the LGCs received N264.805 billion.
“In September 2026, Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Petroleum Royalties, Import Duty, CET Levies and Excise Duty increased significantly.
“Also, Companies Income Tax (CIT), CGT & SDT, Value Added Tax (VTA), Mineral Royalties, and Gas Flared Penalty, Rental Gas Flared Fee and Misc. Oil Revenue decreased considerably,” he said.
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NLC Gives FG Two-Week Ultimatum To Reduce Petrol Price …Begins Minimum Wage Talks
The Nigeria Labour Congress (NLC) has given the Federal Government a two-week ultimatum to reduce the price of petrol, commence renegotiation of the national minimum wage and implement outstanding agreements with workers.
The ultimatum followed a joint meeting of the National Executive Council and Central Working Committee of the NLC held at the Olaitan Oyerinde Hall, Labour House, Abuja.
In a communiqué signed by the NLC President, Joe Ajaero, and made available to newsmen, yesterday, the union said the two-week ultimatum would commence on Friday, October 9, 2026.
It warned that failure by the government to meet its demands would compel the Congress to take further action.
The NLC specifically demanded that the government reduce the price of Premium Motor Spirit to the level it was when the current national minimum wage was signed into law in 2024.
It also demanded the immediate commencement of negotiations for a new minimum wage, implementation of the February 5, 2026, Terms of Settlement reached with the Joint Health Sector Unions and Assembly of Healthcare Professionals, and action on the demands of the Joint Public Sector Negotiating Council.
The Congress further demanded tax relief and immediate wage awards for workers, arguing that the measures were necessary to cushion the impact of rising living costs.
The NLC said, “The current national minimum wage has been rendered worthless by the relentless depreciation of the naira and the astronomical rise in the cost of living.”
It added that workers could no longer meet basic needs, including food, shelter, healthcare, transportation and education, on their current earnings.
The labour body, therefore, demanded that the Federal Government commence renegotiation of the national minimum wage before the end of October.
“NEC-in-session demands that the Federal Government commence the renegotiation of the national minimum wage before the end of this month,” the communiqué stated.
The Congress also linked the erosion of workers’ purchasing power to the high cost of petrol, saying the price of the commodity had continued to drive up transportation costs and the prices of other essential goods.
“The exorbitant pump price of petrol has had a cascading effect on the cost of transportation, food, and other essential goods, further deepening the hardship of workers and the masses,” it said.
The NLC further demanded that the government grant tax relief to workers and immediately introduce wage awards, describing the measures as “the bare minimum required to alleviate the suffering of Nigerian workers and restore a measure of dignity to their lives.”
The latest ultimatum escalates the labour movement’s pressure on the Federal Government after public-sector workers under the Joint National Public Service Negotiating Council embarked on a three-day warning strike earlier in October over rising living costs, petrol prices, wage awards and minimum wage negotiations.
The workers had demanded, among other measures, a reduction in petrol prices and the commencement of negotiations for a new minimum wage.
The NLC had also raised concerns in September over the declining purchasing power of workers, with Ajaero arguing that the N70,000 minimum wage had been overtaken by increases in the cost of food, transportation, housing, education and other essential expenses.
The current minimum wage was approved by President Bola Tinubu in July 2024 after negotiations involving the government, organised labour and the private sector.
Tinubu increased the Federal Government’s offer from N62,000 to N70,000 and agreed that the wage should be reviewed after three years rather than five years.
The NLC’s latest demand comes as the Federal Government announced fresh measures aimed at containing petrol-price pressures.
Yesterday, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the government was negotiating a ceiling of N1,350 per litre on the ex-gantry or landing cost of petrol, with monthly reviews, as part of measures to reduce price volatility.
The proposed ceiling does not mean petrol would necessarily sell at N1,350 per litre at filling stations.
The government also announced a 30-day discount on petrol dispensed by the Nigerian National Petroleum Company Limited (NNPCL), with priority given to public transporters.
Oyedele said the arrangement was not a return to subsidy but an effort to sell the product at cost.
However, the NLC is seeking a more substantial reduction, insisting that petrol should return to the price level that prevailed when the N70,000 minimum wage was enacted in 2024.
The Congress also called for the implementation of the agreement reached with JOHESU in February, as well as the demands presented by the Joint Public Sector Negotiating Council.
It warned that failure to respond within the two-week period would have consequences.
“Failure of which the NLC will be compelled to take remedial steps as would be directed by the relevant organs,” the communiqué said.
The union consequently directed its affiliates and allies to remain prepared for further action.
“NEC-in-session reaffirms the historical responsibility of the NLC to resist all forms of exploitation and oppression,” it stated, urging its affiliates to remain “on high alert and fully prepared to engage in decisive efforts against all anti-people policies.”
The development also comes amid fresh labour tensions in Abuja, where the FCT Council of the NLC commenced an indefinite strike on Wednesday over disputes with the FCT Administration concerning teachers’ promotion policies.
The council directed workers across public and private establishments to withdraw their services after the expiration of a seven-day ultimatum.
The latest NLC ultimatum puts renewed pressure on the Federal Government to address wage and fuel-price concerns as both sides grapple with disagreements over the implementation of previous labour agreements and measures to cushion the impact of economic reforms.
The NLC said its demands were aimed at protecting workers and the wider population from further deterioration in their standard of living, insisting that Nigerian workers must remain “resolute, organised, and uncompromising” in the struggle for improved living conditions.
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