Connect with us

Featured

FG Recovers N3.7bn From NDDC Contractors, Directors …As Buhari Inaugurates 1st Advisory Committee In 20 Years …Wike, Okowa, 11 Others Make History

Published

on

President Muhammadu Buhari, yesterday, in Abuja said law enforcement agencies have recovered over N3.7billion as well as various assets worth billions of Naira from contractors and former directors of the Niger Delta Development Commission (NDDC).
The president disclosed this at the inauguration of NDDC Advisory Committee, comprising the nine governors of the Niger Delta Region and the Ministers of Niger Delta Affairs and Environment.
Specifically, Buhari said: ‘‘To date, the EFCC and other agencies of government have recovered over N3.7billion in cash as well as various assets worth billions of Naira from some contractors and former directors of the commission.
‘‘Furthermore, I am told that government agencies have placed liens on over N6billion of assets which are being investigated.’’
The president told the committee that these abuses of the past clearly show the need for strict and diligent oversight, going forward.
He, therefore, charged them to discharge the new assignment diligently and effectively, working closely with the relevant ministries, adding that he looked forward to seeing positive changes in the affairs of the commission as well as on the ground in the Niger Delta region.
Buhari recalled that in 2016, his administration launched the “New Vision for the Niger Delta (NEVIND)”, aimed at bringing sustainable peace, security, infrastructure and human capital development to the region.
He said the medium to achieve this noble objective was through the Ministry of Niger Delta Affairs, NDDC and the Presidential Amnesty Programme (PAP).
The president, however, expressed regret that in the past these institutions were unable to deliver their mandates due to mismanagement.
‘‘As a result, the people of the Niger Delta were left with abandoned infrastructural projects and substandard social programmes which were designed to improve their living conditions.
‘‘It is to reverse this trend that I approved, in February, 2020, the constitution of a 10-Man Presidential Monitoring Committee (PMC) as provided for in Section 21 of the NDDC Establishment Act.’’
He noted that the PMC, which will be chaired by the minister of Niger Delta affairs and its members drawn from various MDAs, will focus on monitoring the operations and activities of the commission, and will be reporting to him.
In the same vein, the president said the inauguration of the NDDC Advisory Committee is in line with the provisions of Section 11 (I) of the NDDC Establishment Act, explaining that the committee is charged with the responsibility of advising the board and monitoring its activities.
Justifying the decision to inaugurate the committee ahead of the reconstitution of the NDDC Board, Buhari said: ‘‘This is to enable us develop insights into the affairs of the commission which will properly guide the board when reconstituted once the forensic audit exercise on the commission is concluded.
‘‘You may recall that the Federal Executive Council, on 5th of February, 2020 approved the appointment of the Lead Forensic Auditors. I am told they are concluding their pre-engagement activities and should be ready to commence work soon’’.
Speaking on behalf of the members of the Advisory Committee, Delta State Governor, Dr Ifeanyi Okowa, thanked the president for inaugurating the committee and granting the request of the governors, from the region, for a forensic audit of the NDDC.
The governor expressed the hope that the report of result from the forensic audit would help streamline activities of the NDDC with a view to putting it on course to deliver on its mandate to the people.
Underscoring the roles of the advisory committee, the Delta State governor noted that for sustainable development of the region, the NDDC must perform its duties in close collaboration with the states to avoid duplication of projects.
‘‘We do not want to criticise what has happened in the NDDC for quite some time, but the fact is that the cooperation between the states and the NDDC has not been strengthened overtime and we have various cases of duplication of projects that are not properly planned.
‘‘But I believe that with the inauguration of this body we will be able to sit down, meet together, work in collaboration and supportively to bring greater developments to our people,’’ he said.
The members of the committee, who witnessed the inauguration include Governors Nyesom Wike of Rivers, Udom Emmanuel of Akwa Ibom, Ifeanyi Okowa of Delta, Duoye Diri of Bayelsa, Ben Ayade of Cross River, Godwin Obaseki of Edo, and Rotimi Akeredolu of Ondo states.
The Deputy Governors of Imo, Prof. Placid Njoku and that of Abia, Ude Chukwu, represented their principals, who are also members of the committee.
Also present was the Chairman of the committee and Minister of Niger Delta Affairs, Senator Godswil Akpabio, the Minister of State for Environment, Mrs Sharon Ikeazor, among others.

Featured

Tinubu Hails NGX N100trn Milestones, Urges Nigerians To Invest Locally

Published

on

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.

Continue Reading

Featured

RSG Kicks Off Armed Forces Remembrance Day ‘Morrow  …Restates Commitment Towards Veterans’ Welfare

Published

on

The Rivers State Government has reiterated its commitment towards the welfare of veterans, serving officers and widows of fallen officers in the State.

?

?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.

?

?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.

?

?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.

?

?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.

?

Continue Reading

Featured

Fubara Redeploys Green As Commissioner For Justice

Published

on

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.

Continue Reading

Trending