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Don’t Borrow Money Without Approval, Wike Warns New LG Chairmen
The Rivers State Governor, Chief Nyesom Wike, has told newly sworn-in chairmen of the 23 local government areas of the state not to approach any financial institution to borrow money without first clearing with the state government.
The governor gave the warning shortly after the elected chairmen of the 23 LGAs took their oath of office at the Banquet Hall of Government House, Port Harcourt, yesterday.
According to Wike, the caution has become necessary in order to stem unguarded desire of some council chairman to access money without any development plan.
“Don’t go and borrow money without the state government approval. Some of you tried it last time and started with your blackmail, saying help us, we are finished. You have no authority to go and borrow money. Even we as state government, before we go and borrow money we get approval from the Debt Management Office. No bank will even give us.
“Before you borrow money, the state must know what you want to use it for, and how you will pay it back, so that others who are coming will not suffer because of your indebtedness.”
Wike also charged the council chairmen to pay proper attention to issues of security in order to stem likely security breaches in their various councils.
The governor particularly urged them to establish a robust working relationship both with the Divisional Police Officers (DPOs) and the traditional rulers that will engender having regular security meetings for proper briefings.
“Stay in your council areas. Don’t stay in hotels and in Port Harcourt. If you’re not at home, how do you know about the security situation in your local government? Security is key!
“Relate with your DPOs. It does not cost you anything. Even if it cost you, governance is not easy. Governance is expensive. Security is expensive. Some of you cannot relate with the DPOs.
“It’s only when you have a problem that you relate with your DPOs and some of them are intelligent and when you call them that time, they turn their face the other way. You must make effort to relate with your DPOs.”
The governor urged the council chairmen to ensure they hold Security Council meeting weekly or better still, once in every two weeks for proper briefing.
Speaking further, Wike warned them against embarking on needless travel outside of the state and the country without notifying the state government.
He also encouraged them to work to strengthen the unity of the party in their various councils, consult widely with the leaders over appointments, and on other issues that will give everybody a sense of belonging.
Wike frowned at the worsening sanitary conditions particularly in Obio/Akpor, Port Harcourt City, Eleme, Oyigbo LGAs, and charged the council chairmen to work assiduously to regularly evaluate refuse dumped on major roads in their councils.
The state governor revealed that the state government prevented the former chairmen whose tenure ended, last Wednesday, from paying local government workers salary due to security report and complains by some councillors and political appointees that they will not be paid what was due them.
“So, I decided to suspend the payment of local government workers and political appointees, so that the newly sworn-in chairmen will have to pay them without any crisis whatsoever.”
He said the state government will set up a committee to oversee the payment of all entitlement of immediate past chairmen, their political appointees and councillors.
According to him, “All the former council chairmen, all political appointees and councillors must be paid their money.”
Wike said he has received intelligence report that some council chairmen have sworn that they will not swear in some elected councillors who they perceive to be opposed to them.
He warned that if this happens, appropriate sanction will be taken against the erring council chairmen.
The newly sworn-in chairmen are, Daniel E. O. Daniel (Abua/Odual); Benjamin Eke (Ahoada East); Hope Ikiriko (Ahoada West); Rowland Sekibo (Akuku-Toru); Barrister Awortu Erastus (Andoni); Onengiyeofori George (Asari-Toru); Irimagha David ( Bonny); Michael Williams (Degema); Obarilormate Ollor (Eleme); Dr. Lloyd Chidi (Emohua); Obinna Anyanwu (Etche); Deko Confidence (Gokana); and Engr Nwanosike Samuel (Ikwerre).
Others include, Bariere Thomas (Khana); Barrister Ariolu George (Obio/Akpor); Nemieboka Vincent (Ogu/Bolo); Akuro Tobin (Okrika); Nwaiwu Chisorom (Omuma); Vincent Job (Ogba/Egbema/Ndoni); Enyiada Cookey-Gam (Opobo/Nkoro); Nwaogu Akara (Oyigbo); Ihunda Allwell (Port Harcourt City); and Mbakpone Okpe (Tai).
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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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