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RSG Shocks Sahara Energy …Terminates Sale Of Power Plants To Subsidaries …As Wike Inaugurates State University Teaching Hospital Board

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The Rivers State Government has approved the termination of the share sale contract for the sale of 70-percent equity of the State Government-owned power generation assets held by First Independent Power Limited in Omoku, Afam, Trans-Amadi and Eleme Gas Turbines to NG Power-HPS Limited.
The Rivers State Government also terminated the concession of the Rivers and Bayelsa State-owned Olympia Hotel to Cenpropsaroten Hotel Management Limited.
The state government further terminated the concession agreement between the Government of Rivers State and Kild Concession Limited in respect of the construction of a Toll road and Secondary developments in Abonnema Wharf, Port Harcourt.
These were part of resolutions at the State Executive Council meeting presided over by the Rivers State Governor, Nyesom Ezenwo Wike last Friday at the Government House, Port Harcourt.
The three companies that had their contracts/concessions terminated are subsidiaries of Sahara Energy Limited, used by the immediate past Rivers State Governor, Rotimi Amaechi to acquire state assets.
Briefing journalists after the State Executive Council meeting, Information and Communication Commissioner, Emma Okah said that the State Government arrived at the resolutions in line with yet to be implemented recommendations of the White Paper on the Report of the Judicial Commission of Inquiry for the Investigation of the administration of Governor Chibuike Rotimi Amaechi on the sale of Valued Assets of Rivers State and other related matters under the chairmanship of Justice George Omereji.
The Rivers State Government directed the Honourable Attorney General of the State to take further steps as contained in the White Paper.
Meanwhile, Rivers State Governor, Chief Nyesom Wike has inaugurated the Board of the State University Teaching Hospital, with a charge to the members to develop a world class medical personnel training institution.
Inaugurating the Board at the Government House, Port Harcourt last Friday, Wike urged the members to bring their wealth of experience into building the teaching hospital.
He said: “I congratulate the members of the Board. You have made history as the pioneer members of this all-important board.
”As pioneer members, you have a duty of developing this teaching hospital from the scratch. We are doing our best to see that we give the best to our people”.
He assured that the State Government will support the Board to ensure that it achieves its set objectives.
He said: “You have to promote team-work. This is important to achieve our goal of training quality doctors.
”Team work will consolidate the gains of setting up the Teaching Hospital and the college of Medical Sciences at the Rivers State University”.
Governor Wike charged the Board members to commence work immediately, despite the Christmas Period.
Chairman of the Board of the Rivers State University Teaching Hospital, Dr Jonathan Nimi Hart assured the governor that the members will deliver in line with his directives.
He said that the Board has the capacity to develop a world class Teaching Hospital.
The Chairman urged the Rivers State Governor to fund the new Rivers State University Teaching Hospital for the transformation of the Braithwaite Memorial Special Hospital into a modern, well equipped training facility.
”You will not be disappointed by the membership of the Board. The teaching hospital is for service, learning and research. There is need for manpower development at the Rivers State University Teaching Hospital “, he said.

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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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