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See Rivers’ Victory On VAT As Fiscal Federalism Enabler, Wike Tasks States

Published

4 years ago

September 8, 2021

The Rivers State Governor, Chief Nyesom Wike has directed the Rivers State Internal Revenue Service (RIRS) to ensure the full implementation and enforcement of the state’s Value Added Tax (VAT) Law.
The governor’s directive follows the Federal High Court in Port Harcourt’s dismissal of an application by Federal Inland Revenue Service (FIRS) for a stay of execution over the court’s judgment that declared Rivers State as constitutionally empowered to collect VAT within its jurisdiction.
Wike, in a state-wide broadcast, asserted that with last Monday’s judgement, the way was now clear for his administration to enforce the Rivers State Value Added Tax Law 2021, until otherwise set aside by a superior courts.
“Consequently, I hereby direct the Rivers State Internal Revenue Service (RIRS) to ensure the full and total implementation and enforcement of this law against all corporate bodies, business entities and individuals with immediate effect.
“All corporate bodies, business entities and individuals are advised to willingly; truthfully and promptly comply with their tax obligations under this law to avoid the full weight of the stipulated sanctions, including having their business premises sealed-up.
“I wish to further assure every resident that we shall as usual make effective use of the expected proceeds from this tax to accelerate the development of our state and improve the wellbeing of everyone.”
He maintained that the benefits derivable from the judgement of the Federal High Court in Port Harcourt that empowered Rivers State Government to collect Valued Added Tax (VAT) within its jurisdiction also extend to other states because it was their constitutional right and authority.
The governor explained that what the Rivers Sate Government has done was to contribute to the advancement fiscal federalism, in which states can feel empowered to explore their potentials to generate internal revenue to address their development needs.
“And in doing so, our singular and progressive objective was to contribute to the advancement of fiscal federalism by enabling the federating states to explore and exploit their potential and capacity for generating greater internal revenues with which to fund their development goals and reduce the out-dated over-reliance on pitiable federal allocation and other hand-outs.
“Fiscal federalism remains the right path to economic self-reliance and sustainability for all our states and the benefits derivable from this case by all the states in the long run far outweigh the immediate revenue loss that some states may presently suffer.”
The governor noted that when the judgement was first delivered in favour of the Rivers State Government, the Federal Government, through the Federal Inland Revenue Service (FIRS), disagreed, and filed an appeal, and sought a request for stay-of-execution of the judgment before the Federal High Court.
According to Wike, while the appeal was pending, and without any stay-of-execution of the subsisting judgement, the FIRS went about to bully corporate bodies and business entities from paying the VAT to the Rivers State Government.
Wike said, FIRS did so, even when they knew that an appeal does not serve as a stay, neither was there anything to stay in a declaratory judgement.
“However, being a government that believes in the rule of law we decided on our own to suspend the enforcement of the Rivers State VAT Law 2021 pending the outcome of the FIRS’s application for stay-of-execution.
“Today, the FIRS has failed in its attempt to frustrate the enforcement of the state’s law on VAT with the Federal High Court’s dismissal of its application for stay-of-execution of the judgement.”
The governor stated that the Rivers State Government did no wrong in exercising its legal right under the country’s constitutional democracy to stop the continuing breach, denial and curtailment of the constitutional right of states.
Wike said it was wrong for FIRS to impose and collect VAT and other related taxes within the jurisdiction of Rivers State.
“It is, therefore, very unfortunate that some state governors led by that of Katsina State are vainly conspiring to truncate this progressive reality in favour of the inequitable status quo so that the Federal Government can continue to rob Peter to pay Paul as the nation’s self-imposed tax master-general.
“All that is required is for all of us to wear our thinking caps as elected governors to collectively fight for the greater devolution of resources, responsibilities and powers to the federating states.
“For us in Rivers State, we will continue to ensure and project our constitutional rights to access all possible resources we can take hold both within and outside our geographical boundaries to advance the progress of our state”, he added.

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Tinubu Hails NGX N100trn Milestones, Urges Nigerians To Invest Locally

Published

4 days ago

January 9, 2026

The Tide

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

Published

4 days ago

January 9, 2026

The Tide

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.

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Fubara Redeploys Green As Commissioner For Justice

Published

2 weeks ago

December 30, 2025

The Tide

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.