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Mbede, Akiri Oil Wells: Court Restrains FG From Deducting Rivers Funds …As RSG Moves To Rejig Sanitation Strategy In PH
The Federal High Court has restrained the Federal Government and her agencies from deducting funds meant for Rivers State in respect of the Mbede and Akiri Oil Wells.
Justice Tawo Tawo of the Federal High Court, Abuja, gave the ruling, yesterday, in an Originating Summons filed by the Attorney General of Rivers State against the Attorney General of the Federation, the Attorney General of Imo State, the Accountant General of the Federation, Revenue Mobilisation, Allocation and Fiscal Commission and the Minister of Finance.
The Attorney General of Rivers State moved the Originating Summons: “Pursuant to Order 3 Rule 6, 7, and 9 of the Federal High (Civil Procedures) Rules 2019 Section 7 of the National Boundary Commission (Establishment) Act Section 162 of the Constitution of the Federal Republic of Nigeria 1999 (as amended) and the inherent jurisdiction of the Federal High Court as preserved by Section 6 (6) of the 1999 Constitution.”
The immediate past Imo State Governor, Hon Emeka Ihedioha had written to the President demanding revenue from the Federation Account in respect of the Mbede and Akiri Oil Wells.
But the Rivers State Government went to court over the matter.
Ruling in the matter, the court declared that Rivers State Government is entitled to continue to receive and retain revenue from the Federation Account and other accounts maintained for the purpose in respect of revenue derived from oil wells within the territory of Rivers State based on the 13 per cent derivation formula currently applied by the 4th Defendant.
The Federal High Court further declared that the Rivers State Government (represented by the Plaintiff on record) is entitled to receive and retain revenue from the Federal Account as provided for under the Constitution of the Federal Republic of Nigeria 1999 (as amended) in respect of revenue drive from the oil wells generally referred to as Akiri and Mbede Oil Wells located within the Rivers State territory.
Justice Tawo declared that the President of the Federal Republic of Nigeria, and the Government of the Federal Republic of Nigeria, represented by the 1st Defendant on record), are not entitled to give directives to the 4th Defendant with regard to distribution of public revenue from the distributable pool account, including the Federal Account and that they are not entitled to interfere in any manner whatsoever with the distribution of public revenue from the distributable pool account, including the Federation Account.
The court held that the Government of Imo State (represented by the 2nd Defendant) is not entitled to alter or cause to be altered, to deny or cause to be denied, whether through the instrumentality of the President of the Federal Republic of Nigeria or the Government of the Federal Republic of Nigeria (represented by the 1st Defendant) or any manner howsoever the revenue due to the Rivers State Government in accordance with the principle and formula for distributing public revenue for the time being under the Constitution of the Federal Republic of Nigeria.
Justice Tawo further declared that until the conflicting claims over Akiri and Mbede Oil Wells by Rivers State and Imo State (represented by the 2nd Defendant in this suit) are resolved by the National Boundary Commission, the 4th Defendant cannot deny the Rivers State its due share of public revenue under the Constitution (as it is currently being distributed), or in any manner after the sharing formula or reduce the share of public revenue due to Rivers State on account of the claim of Imo State (represented by the 2nd Defendant) to the said Akiri and Mbede Oil Wells.
Meanwhile, the Rivers State Executive Council has directed the Rivers State Waste Management Agency (RIWAMA) to develop a comprehensive plan to rejig the sanitation arrangement in the state.
The State Executive Council reached the decision at a meeting presided over by the Rivers State Governor, Chief Nyesom Wike, yesterday, at the Government House, Port Harcourt.
The Rivers State Commissioner for Information and Communications, Pastor Paulinus Nsirim told journalists after the meeting that RIWAMA has two weeks to submit its report.
Nsirim said: “Rivers State Executive Council reviewed the sanitary condition of the state capital after an interaction with the sole administrator of Rivers State Waste Management Authority (RIWAMA), and directed the sole administrator of RIWAMA to develop a comprehensive plan that will rejig the sanitation arrangement in the state.
“The RIWAMA boss has two weeks to present his comprehensive plan to the council.”
He also stated that the Rivers State Executive Council set up a committee to outline the modalities for the implementation of the owner-occupier policy for judges.
“The State Executive Council also set up a committee to work out modalities for the owner-occupier government policy for judges who will retire from service.
“This is to ensure that judges who retire from service in the state have decent accommodation. That committee is headed by the Secretary to the State Government, attorney-general of Rivers State is secretary, commissioner for housing, commissioner for finance, commissioner for social welfare, the permanent secretary, Ministry of Lands and Hon. Justice Adolphus Enebeli, representing the judges, will be members.
“That committee has two weeks to submit its report,” he said.
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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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