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Nigeria Risks Losing $34bn In Annual Export Earnings – Report 

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A new study by Standard Chartered says Nigeria risks losing $34.3 billion in annual export earnings if it does not cut carbon emissions in line with the net-zero plans of the biggest multinational companies (MNCs) operating in the country.
The study, titled ‘Carbon Dated’, was done by surveying 400 sustainability and supply chain experts at multinational companies across the globe.
It assessed risks and opportunities for suppliers in emerging and fast-growing markets as large companies transition to net zero.
According to the survey, if Nigeria fails to transition alongside its multinational company  partners, it risks a loss in export revenues of up to $34.3bn.
Other countries on the list were China, with the biggest potential loss of $512.3bn; India ($273.7bn) and Hong Kong ($205.5bn).
South Africa is the second highest African country after Nigeria with $33.7bn of exports at risk. Kenya is the third African nation on the list with $3.9bn in potential export loss.
The study also said the current approach taken by the multinational companies could create a $1.6tn opportunity for the net-zero club, which are the businesses reducing emissions in line with multinational companies’ net-zero plans.
It was said that the results represented a major opportunity for net-zero-focused suppliers across the 12 markets in the study, but also quantified the potential losses to companies not embracing the zeri-net transition. 
According to the report, multinational companies are exploring other ways to help their suppliers’ transition to net zero. Some 47 per cent of them are offering preferred supplier status, identified as a sales advantage to sustainable suppliers, and 30 per cent are offering preferential pricing.
Some multinationals were said to be going further by offering grants or loans to their suppliers to invest in reducing emissions at about 18 per cent, for data collection; about 13 per cent, and others said they would pay a premium of seven per cent on average for a product or service from a net-zero supplier.
The Group Chief Executive of Standard Chartered, Bill Winters, said, “It’s no surprise that as multinational companies transition to net-zero, they are starting to look to their suppliers to help. However, suppliers, especially those in emerging and fast-growing markets, cannot go it alone.
“MNCs need to incentivise their suppliers to help them kick start their transition journey, but governments and the financial sector have a role to play too by creating the right infrastructure and offering the necessary funding.”
The Chief Executive Officer for Standard Chartered South Africa and Southern Africa, Kweku Bedu-Addo, said, “There is growing acceptance that decarbonisation is vital for the future of the planet to remain hospitable as we have known it for millennia”.

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Fubara Vows Full Support For Independent, Effective Judiciary

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Rivers State Governor, Sir Siminalayi Fubara, has pledged necessary support to ensure the Judiciary operates as a truly independent and effective justice system. Governor Fubara gave the assurance while formally declaring open the 2025/2026 Legal Year at a special Court Session at the State High Court Complex in Port Harcourt, recently.

He expressed satisfaction not only with the event’s success but also with the Bar and Bench’s commitment to advancing the integrity of the judicial system.

The Governor said that the Rivers State Judiciary ranks among the best in Nigeria, adding that it features some of the brightest judicial minds who courageously interpret and apply the law with a high sense of justice.

He reminded the lawyers, that as ministers in the temple of justice, they are under oath to conduct themselves honestly in their practice of the law before the courts, to uphold the rule of law and advance the course of justice at all times.

“Similarly, every judge is under a judicial oath to provide equal justice to all persons according to law to the best of their knowledge and ability without fear, favour, or affection”, he said.

He stressed that the judicial oath is not composed of mere words but demands that judges act with moral courage to resist pressure, and ensure that both friends and foes have access to equal and impartial justice.

He, therefore, requested that all courts, inferior or superior, should perform their duties with courage, adjudicate and interpret the laws and cases in ways that promote substantial justice, democracy, and citizens’ fundamental rights.

The Governor, however, declared that the political crisis is now over, with all parties fully reconciled, and his administration back on its feet, affirming that he holds no grudges or ill feelings toward anyone.

He stated that the administration is now re-energised and has resumed the implementation of people-centric policies, programmes, and projects with greater determination to achieve the developmental milestones set to enhance the well-being of the people of Rivers State.Governor Fubara reiterated his commitment to work with the State House of Assembly, the Judiciary, and other stakeholders to recover lost ground, sustain peace and accelerate development of the state.

He also appreciated the Chief Judge for providing functional, effective leadership, exceptional courage, and an unwavering determination to ensure justice is served to all who seek the aid of the courts.

Speaking earlier during the thanksgiving service at the Corpus Christi Catholic Cathedral, Port Harcourt, Governor Fubara called on the Judiciary to remain steadfast as a “true temple of justice”, urging the courts not to let the innocent suffer unjustly. In his remarks, Chief Judge of Rivers State, Justice Simeon Amadi, highlighted the absence of a Committee on Prerogative of Mercy in the state, which, he said has contributed significantly to congestion in custodial centres. He noted that the non-reduction of sentences for inmates, including 493 male and 15 female death-row prisoners, is beyond the Chief Judge’s powers, and called for government intervention.

He thanked the Governor for the support given to the Judiciary so far, and solicited for more encouragement to reduce the pressures judicial officers face in the performance of their duties. Also speaking, Chairman, Nigerian Bar Association (NBA), Port Harcourt Branch, Mrs. Cordelia Eke, said the 2024–2025 legal year began with optimism but was soon overshadowed by political and institutional turbulence.

She noted that the state of emergency and suspension of key elected officials disrupted democratic governance and tested the resilience of the justice system. “The absence of an Attorney General caused serious delays in justice delivery, unprocessed legal applications, and financial losses,” Eke stated.According to her, the situation underscored the urgent need to fortify laws that protect institutions and ensure that the justice system continues to function even in difficult times.

Speaking on behalf of the Body of Senior Advocates of Nigeria (BOSAN), Chief Onueze Okocha (SAN), expressed concern over the battered image of the Judiciary, lamenting that many Nigerians have lost faith in the courts due to inconsistent judgments and prolonged case delays.He urged judges to resist personal interests that could influence their professional conduct, calling for renewed integrity and faster dispensation of justice.

Earlier in his homily during the thanksgiving service, Apostolic Administrator, Catholic Diocese of Port Harcourt, Right Reverend Patrick S. Eluke, urged members of the legal profession to uphold moral and spiritual integrity in their practice, reminding them of their “sacred duty” to ensure that justice reflects honesty, compassion, and fairness.

He cautioned against hypocrisy, rivalry, and unhealthy competition within the legal profession, stressing that true justice must protect the vulnerable and remain unswayed by material or political influence.

He further called on elected leaders to demonstrate patriotism and accountability to the people who entrusted them with power, noting that democracy and justice thrive only where integrity and fairness prevail.

The Governor read the First Reading from 2 Chronicles 19: 5-9; while the Chief Judge took the 2nd Reading from Psalm 100: 1-5. Highlights of the event were presentation of gifts to the Governor, his Deputy, Speaker, Rivers State House of Assembly, Rt Hon Martin Amaewhule, and the Chief Judge as well as prayers for the Government, the Judiciary, the State and the Country.

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RSG Cancels ?134BN Secretariat Contract, Orders Refund Of ?20BN Mobilisation … Revalidates Four Projects

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The Rivers State Executive Council has revoked the ?134bn contract awarded to the China Civil Engineering Construction Corporation (CCECC) for the renovation, retrofitting, and furnishing of the Rivers State Secretariat Complex by the State of Emergency Administration.

 

The council directed the immediate refund of the ?20bn mobilization fee already paid to the contractor.

 

Relatedly, the Council also approved the revalidation of the bidding processes for four contracts, consisting of the renovation of the State Secretariat Complex, construction of reinforced concrete shoreline protection and reclamation works in several riverine communities of Opobo/Nkoro, and Ogba/Egbema/Ndoni Local Government Areas. The projects earlier advertised for which bid documents were cancelled by the Emergency Administration and fees returned to the companies that had earlier purchased them.

 

The decisions were reached during the State Executive Council meeting held on Thursday at the Government House, Port Harcourt, and presided over by Governor Siminalayi Fubara.

 

Briefing newsmen, the Permanent Secretary, Ministry of Works, Dr. Austin Ezekiel-Hart explained that the contracts had been awarded in a hasty manner without following due process. He said the council, therefore, approved the revalidation of the bidding process for all four contracts that were earlier advertised in national dailies on February 19, 2025.

 

With the revalidation process now on, Dr. Ezekiel-Hart stated that a fresh bidding will be advertised in newspapers for competent and experienced contractors to prequalify and submit both technical and commercial bids.

 

He listed the projects to include, “The construction of 4.8km reinforced concrete shoreline protection and reclamation of Queenstown, Epellema, Oloma, and Minima communities in Opobo/Nkoro Local Government Area in Rivers State. The construction of 2.5km shoreline protection and reclamation in Ndoni-Onukwu, Isikwu, and Aziazagi communities in Ogba-Egbema-Ndoni Local Government Area.

 

“The construction of 2.5km shoreline protection and reclamation in Utuechi, Obiofu, Isala, Ani-Eze, and Odugri communities in Ogba-Egbema-Ndoni Local Government Area. The renovation, retrofitting and furnishing of the Rivers State Secretariat Complex,” he added.

 

Also speaking, the Permanent Secretary, Ministry of Education, Dr. Azibaolanari Uzoma-Nwogu, announced that the council approved the constitution of a committee to develop a proposal for the creation of Computer-Based Test (CBT) Centres and ICT Laboratories across the three senatorial districts of the state.

 

She explained that the initiative is in line with the Federal Government’s directive that beginning in 2026, all examinations conducted by the West African Examinations Council (WAEC) and the National Examinations Council (NECO) will be computer-based.

 

The committee, chaired by the Deputy Governor, has the Secretary to the State Government, Permanent Secretaries from the Ministries of Education, Works, Information and Communications and Commissioner for Energy as members. Dr. Uzoma-Nwogu said the move will prepare Rivers youths for a digital future and improve the quality of education across the state.

 

On issues of employment, the Commissioner for Employment Generation and Economic Empowerment, Dr. Chisom Gbali, said the council reviewed ongoing efforts to create jobs for Rivers youths. He disclosed that his ministry has been directed to develop a framework for job creation and economic empowerment, noting that the government is determined to open up more opportunities for the young population.

 

“We want to assure Rivers youths that there will be a rising tide of employment and steady waves of economic empowerment,” Dr. Gbali said. “We know our Governor, when he makes a promise, he ensures it is fulfilled.”

 

On his part, the Permanent Secretary, Ministry of Information and Communications, Dr. Honour Sirawoo, said council also deliberated extensively on the recent flash floods experienced in some parts of the state. He said the council directed immediate remedial intervention to address the situation, and cautioned residents against the indiscriminate disposal of waste into drainage channels and building on waterways, which worsens flooding.

 

Dr. Sirawoo further noted that Governor Fubara remains deeply committed to the development of Rivers State and determined to accelerate the pace of governance despite time lost. He added that the administration’s renewed focus and energy will soon place Rivers State firmly back on the path of sustainable growth and progress.

 

 

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Fubara Reassures Rivers People Of Completion Of PH Ring Road Project

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Rivers State Governor, Sir Siminalayi Fubara, has reaffirmed his administration’s commitment to the completion of the 62.650km Port Harcourt Ring Road project, despite the setbacks that have slowed its progress.

 

The Governor gave the assurance during an on-site inspection tour of the project on Monday, where he emphasised that the state government remains resolute in its determination to deliver the massive infrastructure for public use.

 

Addressing journalists at the Eneka Flyover axis of the project, Governor Fubara stated that his visit was to verify the level of compliance and commitment shown by the construction firm, Julius Berger Nigeria Plc.

 

Governor Fubara noted that discussions with the contractor had been ongoing to ensure that work resumes at full capacity after a period of financial challenges that affected the project’s continuity.

 

“You are aware that this project was, I won’t say abandoned, but somehow, for lack of funds, the contractor withdrew from the site. We have been discussing with them, and they gave me their word that although we have not finished all the discussions, they have already moved back to site, and I’m here to confirm that.”

 

The Governor described the Port Harcourt Ring Road project, which traverses six local government areas, as one of the most significant infrastructure undertakings in the state’s history, noting that its completion would not only ease traffic congestion in the capital city but also stimulate economic activities across multiple local government areas.

 

Governor Fubara reiterated his administration’s resolve to continue prioritising infrastructure development as a foundation for economic growth and social progress.

 

“I want to make this promise to our good people of Rivers State,” the Governor declared. “This project that we started, by the special grace of God, we are going to complete it. We owe our people a responsibility to deliver on our commitments, and this project will not be an exception,” he added.

 

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